OLGC Orthologic (MM)

TEMPE, Ariz., Oct. 24 /PRNewswire-FirstCall/ -- OrthoLogic Corp. (NASDAQ:OLGC) announced today the appointment of Dana B. Shinbaum to the position of Vice President of Business Development. In this newly created role, Mr. Shinbaum will be responsible for identifying, evaluating and negotiating potential in-licensing opportunities, marketing and development partners and other possible collaborations. "We are happy to add Mr. Shinbaum's strategic vision to the OrthoLogic Executive Management Team," said Dr. James Pusey, Chief Executive Officer of OrthoLogic. "His ability to identify collaboration agreements and execute strategic business opportunities will help advance the development and commercialization of our lead product, Chrysalin, and other potential product candidates, and will bring long-term value to the company and its shareholders." Mr. Shinbaum has nearly sixteen years of experience in the pharmaceutical industry. He joins OrthoLogic from Savient Pharmaceuticals, Inc. where he held positions of increasing responsibility in marketing, strategic planning and new product development, most recently as Vice President, Product Planning & Market Analytics. While at Savient his responsibilities included creating and developing new business opportunities, leading global project teams and managing product launches. He played key strategic planning roles in Savient's acquisition of Rosemont Pharmaceuticals Ltd. and the divestiture of Bio-Technology General Ltd., Savient's global biologics business. Prior to joining Savient, Mr. Shinbaum was at Wyeth-Ayerst Laboratories, where he served in a variety of market planning and marketing roles, including Product Manager for the PREMARIN(R) franchise. Mr. Shinbaum received a Master of Business Administration from Drexel University in Philadelphia and a Bachelor of Arts degree from Lafayette College in Easton, Pennsylvania. About OrthoLogic OrthoLogic is a biotechnology company focused on the development and commercialization of the novel synthetic peptide Chrysalin(R) (TP508) in three lead indications, all of which represent areas of significant unmet medical need -- fracture repair, diabetic foot ulcer healing and cartilage defect repair. Based on the Company's pioneering scientific research of the natural healing cascade, OrthoLogic has become the leading company focused on tissue and bone repair. OrthoLogic is committed to developing a pipeline of novel peptides and other molecules aimed at helping patients with equally under-served conditions. The Company maintains exclusive worldwide rights for Chrysalin. OrthoLogic's corporate headquarters are in Tempe, Arizona. For more information, please visit the company's Web site: http://www.orthologic.com/. Statements in this press release or otherwise attributable to OrthoLogic regarding our business that are not historical facts are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which include the timing and acceptability of FDA filings and the efficacy and marketability of potential products, involve risks and uncertainties that could cause actual results to differ materially from predicted results. These risks include: delays in obtaining or inability to obtain FDA, institutional review board or other regulatory approvals of preclinical or clinical testing; unfavorable outcomes in our preclinical and clinical testing; the development by others of competing technologies and therapeutics that may have greater efficacy or lower cost; delays in obtaining or inability to obtain FDA or other necessary regulatory approval of our products; our inability to successfully and cost effectively develop or outsource manufacturing and marketing of any products we are able to bring to market; changes in FDA or other regulations that affect our ability to obtain regulatory approval of our products, increase our manufacturing costs or limit our ability to market our products; our possible need for additional capital in the future to fund the continued development of our Chrysalin Product Platform; and other factors discussed in our Form 10-K for the fiscal year ended December 31, 2004 our Form 10-Q for the quarter ended March 30, 2005, and other documents we file with the Securities and Exchange Commission. DATASOURCE: OrthoLogic Corp. CONTACT: Media, Lauren Tortorete of Biosector 2, +1-212-845-5609, , or investors, Melanie Friedman of Stern Investor Relations, +1-212-362-1200, both for OrthoLogic Corp. Web site: http://www.orthologic.com/

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