BAUDETTE, Minn., July 16, 2013 /PRNewswire/ -- BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) today announced that it has hired Robert Schrepfer as Vice President of New Business Development and Contract Manufacturing, with an effective start date of August 12, 2013. As a result of this hiring, Mr. Schrepfer has resigned his position on BioSante's Board of Directors. BioSante's Board of Directors also appointed Daniel Raynor of The Argentum Group to the Board, effective July 12, 2013.
Mr. Schrepfer had been a member of the Board of Directors of ANIP Acquisition Company d/b/a ANI Pharmaceuticals, Inc. ("ANI") since 2010 and became a Director of BioSante upon the recently completed merger of ANI into a wholly-owned subsidiary of BioSante. Prior to joining BioSante, Mr. Schrepfer served as Managing Director and Assistant Portfolio Manager at Healthcare Value Capital, a healthcare investment firm, since 2005. Previously, Mr. Schrepfer was Vice President, Equity Research covering the Major and Specialty Pharmaceuticals sector at Bear Stearns & Cos, Inc. Mr. Schrepfer is a Member of the Health Sector Advisory Council at Duke University where he earned his MBA in Finance and Health Sector Management.
"We are excited to welcome Rob to our management team," stated Arthur S. Przybyl, President and CEO. "Over the last several years, Rob has been instrumental in identifying product and business opportunities as a member of our Board of Directors. He is familiar with our strategic objectives and we look forward to his continued contributions. As our Vice President of New Business Development and Contract Manufacturing, Rob will be responsible for identifying and advancing our product pipeline and contract manufacturing opportunities."
"With a solid balance sheet and a strong base business, BioSante is well positioned to leverage its unique assets. It is clearly an exciting time to join the Company," said Mr. Schrepfer. "I look forward to working with BioSante's talented team to expand both our marketed product portfolio and contract manufacturing revenues with the goal of driving shareholder value."