Message #11 From:
TheMachine Date: January 20, 2009 09:23:35 AM
DORB Stock News : DOR BioPharma Announces Engagement of Amper, Politziner & Mattia, LLP as New Auditors
EWING, NJ -- (Marketwire) -- 01/20/09 -- DOR BioPharma, Inc. (DOR or
the Company) (OTCBB: DORB) announced today that it has engaged Amper,
Politziner & Mattia, LLP
(Amper) to serve as the Company's independent registered public
accounting
and auditing firm beginning with the fiscal year ending December 31,
2008.
Amper replaces Sweeney, Matz & Co., LLC (Sweeney) as the Company's
independent auditors.
"We are pleased to be working with Amper because of their life science
expertise," commented Evan Myrianthopoulos, Chief Financial Officer of DOR.
"Amper has a strong network in the life sciences industry, particularly in
New Jersey, and is ranked among the top 20 public company auditors
nationally. We look forward to working and growing with them."
Mr. Myrianthopoulos added, "Throughout our relationship, Sweeney has
provided DOR with excellent, professional service and a quality audit. We
thank Sweeney for their service."
The change in the Company's auditors was authorized by its audit committee
and board of directors. The Company and Sweeney did not disagree on any
matter of accounting principles or practices, financial statement
disclosure or auditing scope or procedure. Any disagreement with Sweeney,
if not resolved to their satisfaction, would have caused it to make
reference to the subject matter of the disagreements in connection with its
audit reports on the Company's consolidated financial statements.
About Amper, Politziner & Mattia, LLP
Amper, Politziner & Mattia, LLP is a regional firm of Certified Public
Accountants and Consultants with offices in New Jersey, New York and
Philadelphia. Founded in 1965, Amper is one of the 25 largest independent
CPA firms in the country and provides audit, tax and other services to
approximately 150 public companies.
About DOR BioPharma, Inc.
DOR BioPharma, Inc. (DOR) is a late-stage biopharmaceutical company
developing products to treat the life-threatening side effects of cancer
treatments and serious gastrointestinal diseases, and vaccines for certain
bioterrorism agents. DOR's lead product, orBecŪ (oral beclomethasone
dipropionate or BDP), is a potent, locally acting corticosteroid being
developed for the treatment of gastrointestinal Graft-versus-Host disease
(GI GVHD), a common and potentially life-threatening complication of
hematopoietic cell transplantation. DOR expects to begin a confirmatory
Phase 3 clinical trial of orBecŪ for the treatment of GI GVHD in 1st half
of 2009. orBecŪ is also currently the subject of an NIH-supported, Phase
2, randomized, double-blind, placebo-controlled trial in the prevention of
acute GVHD. Oral BDP may also have application in treating other
gastrointestinal disorders characterized by severe inflammation.
Additionally, DOR has a Lipid Polymer Micelle (LPM(TM)) drug delivery
technology for the oral delivery of leuprolide for the treatment of
prostate cancer and endometriosis.
Through its Biodefense Division, DOR is developing biomedical
countermeasures pursuant to the Project BioShield Act of 2004. DOR's
biodefense products in development are recombinant subunit vaccines
designed to protect against the lethal effects of exposure to ricin toxin,
botulinum toxin and anthrax. DOR's ricin toxin vaccine, RiVax(TM), has been
shown to be well tolerated and immunogenic in a Phase 1 clinical trial in
normal volunteers.
For further information regarding DOR BioPharma, Inc., please visit the
Company's website at www.dorbiopharma.com.
This press release contains forward-looking statements that reflect DOR
BioPharma, Inc.'s current expectations about its future results,
performance, prospects and opportunities. Statements that are not
historical facts, such as "anticipates," "believes," "intends," or similar
expressions, are forward-looking statements. These statements are subject
to a number of risks, uncertainties and other factors that could cause
actual events or results in future periods to differ materially from what
is expressed in, or implied by, these statements. DOR cannot assure you
that it will be able to successfully develop or commercialize products
based on its technology, including orBecŪ, particularly in light of the
significant uncertainty inherent in developing vaccines against bioterror
threats, manufacturing and conducting preclinical and clinical trials of
vaccines, and obtaining regulatory approvals, that its cash expenditures
will not exceed projected levels, that it will be able to secure
partnerships or obtain financing within the next nine months to meet
operating expenses and to conduct its upcoming confirmatory Phase 3 trial
of orBecŪ, that product development and commercialization efforts will
not be reduced or discontinued due to difficulties or delays in clinical
trials or due to lack of progress or positive results from research and
development efforts, that it will be able to successfully obtain any
further grants and awards, maintain its existing grants which are subject
to performance, enter into any biodefense procurement contracts with the US
Government or other countries, that the US Congress may not pass any
legislation that would provide additional funding for the Project BioShield
program, that it will be able to patent, register or protect its technology
from challenge and products from competition or maintain or expand its
license agreements with its current licensors, or that its business
strategy will be successful. Important factors which may affect the future
use of orBecŪ for gastrointestinal GVHD include the risks that: the FDA's
requirement that DOR conduct additional clinical trials to demonstrate the
safety and efficacy of orBecŪ will take a significant amount of time and
money to complete and positive results leading to regulatory approval
cannot be assumed; DOR is dependent on the expertise, effort, priorities
and contractual obligations of third parties in the clinical trials,
manufacturing, marketing, sales and distribution of its products; orBecŪ
may not gain market acceptance if it is eventually approved by the FDA; and
others may develop technologies or products superior to orBecŪ. These and
other factors are described from time to time in filings with the
Securities and Exchange Commission, including, but not limited to, DOR's
most recent reports on Forms 10-Q and 10-KSB. Unless required by law, DOR
assumes no obligation to update or revise any forward-looking statements as
a result of new information or future events.
