Cynapsus Therapeutics Inc.
TSX VENTURE : CTH

Cynapsus Therapeutics Inc.

March 22, 2011 16:30 ET

Cynapsus Therapeutics Announces Resignation of Chairman David Pattenden

TORONTO, ONTARIO--(Marketwire - March 22, 2011) - Cynapsus Therapeutics Inc. (TSX VENTURE:CTH) announced today that Rochelle Stenzler, the current Chair of the Corporate Governance and Compensation Committee, was elected to the position of Chairperson. Ms. Stenzler will replace Mr. David Pattenden, who resigned as a director and Chairman for personal reasons. Mr. Pattenden was Chairman since joining the Board on June 25, 2007.

The newly appointed Chairperson, Ms. Stenzler, stated, "On behalf of the Board of Directors and the employees of the company, we would like to express our appreciation to David Pattenden for his leadership at Cynapsus over the past four years. We wish David success in his future endeavours and thank him for his contributions to the Company."

Mr. Anthony Giovinazzo, President and Chief Executive Officer, stated, "In the 17 months I have worked with David, he has been a valued and diligent leader of the Board. We all wish him the best. I would also like to welcome Rochelle to the Chairperson position, and I look forward to working with her in her new capacity. Her leadership experience in the pharmaceutical and health care industry will be a critical asset to the company going forward. "

About Rochelle Stenzler

Rochelle Stenzler has 25 years experience in the pharmaceutical/healthcare industry and has served on Cynapsus' Board since joining on March 15, 2006. She has served as the President and/or Chief Executive Officer of Pharma Plus Drugmarts, Revlon Canada, TLC Laser Eye Centers and TouchLogic Corporation, and currently serves as a Board advisor to PharmaTrust. Ms. Stenzler is a graduate of the University of Toronto with a BSc.Phm and the Rotman School of Management, Institute of Corporate Directors, with an ICD.D. 

About Cynapsus Therapeutics

Cynapsus is a specialty pharmaceutical company developing an improved dosing formulation of an approved drug used to treat the symptoms of Parkinson's disease. The prevalence of Parkinson's disease, a chronic and progressive neurodegenerative disease that impacts motor activity, is increasing with the aging of the population. Current medications only control the disease's symptoms; however, these treatments become less effective over time as the disease progresses. Between 25 percent and 50 percent of patients experience episodes in which they cannot move or talk. Cynapsus' lead drug candidate, APL-130277, is an easy-to-administer, fast-acting and oral reformulation of an approved drug, apomorphine, used to rescue patients from these episodes. The company is focused on rapidly maximizing the value of APL-130277 by advancing it to pivotal studies in advance of a New Drug Application expected to be completed by the end of 2013, followed by out-licensing to an appropriate pharmaceutical partner. More information about Cynapsus (TSX VENTURE:CTH) is available at www.cynapsus.ca.

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