AAIPharma Services And Cambridge Major Laboratories Appoint Eric Evans As CFO Of Merged Company

AAIPharma Services, Corp. (“AAI”), a leading global provider of pharmaceutical analytical testing, product development and manufacturing services and Cambridge Major Laboratories, Inc. (“CML”), a global leader in pharmaceutical API development and manufacturing, announce the appointment of Eric Evans as the Chief Financial Officer (CFO) of the merged company (“AAI-CML”).

“Eric’s extensive financial experience in both the pharmaceutical and contract services sectors and his ability to work in a client-centered business structure make him a natural fit as chief financial officer of the merged company,” said Patrick Walsh, CEO of AAI-CML. “He brings leadership and experience managing contract development and manufacturing organizations through scalable growth.”

Evans brings more than 25 years of experience in financial leadership roles; most recently as chief financial officer of AAIPharma Services, Corp. Prior to AAIPharma, Evans was chief financial officer and executive vice president of Patheon, Inc. and vice president and controller for Novartis Pharmaceuticals. He was also chief financial officer for the U.S. division of Sandoz.

“I am excited about the potential that the merger brings for market leadership in end-to-end CMC services. I look forward to building on our strong foundation of proven capabilities to further establish the combined company’s leadership position in the growing pharmaceutical contract services market,” Evans said.

Evans earned his Master of Business Administration from Case Western Reserve University in Cleveland. He graduated from Queens University with a Bachelor of Arts and also earned a graduate degree from the University of Western Ontario, both in Canada.

AAI-CML is a premier global supplier of comprehensive CMC services, including process chemistry, solid state chemistry, API manufacturing, formulation development, analytical development and testing services, clinical and commercial finished dosage form manufacturing (oral solid and sterile), packaging and stability services. The merged company is a portfolio company of American Capital, Ltd. (NASDAQ: ACAS).

About AAIPharma Services Corp.

AAIPharma Services Corp. is a leading provider of contract services that support all phases of drug development. The company’s wide array of capabilities includes analytical and formulation development, material testing services, microbiology, clinical and commercial contract manufacturing, pharmaceutical packaging and stability services.

For more information on the company, visit  www.aaipharma.com.

About Cambridge Major Laboratories, Inc.

Cambridge Major Laboratories, Inc. (CML) is a leading global chemistry outsourcing partner to the pharmaceutical and biotechnology industries. The Company produces pharmaceutical intermediates and Active Pharmaceutical Ingredients (API), from early preclinical development to commercial manufacturing. Operating from FDA-inspected facilities in the US and Europe, CML is organized along five key Centers of Excellence, including: Process Chemistry, GMP Manufacturing, Solid State Chemistry, Analytical Services, and Quality/Regulatory Compliance.

For more information on the company, visit www.c-mlabs.com.

Copyright Business Wire 2010

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