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AspenBio Appoints Executive Chairman

AspenBio Pharma, Inc. (AspenBio) has appointed Daryl J. Faulkner as executive chairman of its board of directors, effective January 26, 2009. In addition, current chairman Gregory Pusey will become company’s vice chairman. Faulkner brings to AspenBio over 25 years experience in developing and commercializing medical devices, drug and drug delivery systems, life science research tools, and molecular diagnostics.

In his most recent endeavor, Faulkner served as president, chief executive officer (CEO) and member of the board of directors of Digene Corporation, a Nasdaq-traded company prior to its acquisition by Qiagen (traded on Nasdaq’s Global Select market). He has continued to serve as a consultant to Qiagen supporting the integration of the 2 companies and serving as co-chair of the executive steering committee with the new CEO of Qiagen. Faulkner also presently serves as a member of the board of directors of Osmetech.

Before joining Digene, Faulkner spent 8 years with Invitrogen in a number of senior positions, including senior vice president (SVP) Europe, SVP IVGN International Operations, and SVP of Strategic Business Units. Before joining Invitrogen, Faulkner’s career included 15 years with the Fortune 100 company Abbott Laboratories, holding leadership roles in manufacturing operations and plant management.

“Given his breadth of knowledge, experience and significant accomplishments, we’re fortunate Daryl will fill this new key leadership position at AspenBio,” stated Gregory Pusey, chairman of AspenBio Pharma. “Daryl’s long record as an industry leader in creating shareholder value through the development and commercialization of important medical products bodes well for AspenBio. We look forward to working closely with Daryl as AspenBio continues to advance its many opportunities.”

Faulkner commented, “I was introduced to AspenBio by John Landon, a recently appointed company director. After becoming acquainted with AspenBio’s impressive product development pipeline, I believe the foundation is in place to create appreciable value, especially with AppyScore™, which appears to be a medical breakthrough for the more accurate diagnosis of human appendicitis. The results of our recently completed study have validated the association of the AppyScore test and clinical appendicitis. We will soon begin new studies using both the ELISA assay and our planned commercial product utilizing the AppyScore electronic reader.”