SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE: APRIL 29, 1997
OSTEX INTERNATIONAL, INC.
NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER
0-25250
COMMISSION FILE NUMBER
STATE OF WASHINGTON
STATE OR OTHER JURISDICTION OF INCORPORATION OR ORGANIZATION
91-1450247
I.R.S. EMPLOYER IDENTIFICATION NUMBER
2203 AIRPORT WAY SOUTH, SUITE 400, SEATTLE, WASHINGTON 98134
206-292-8082
ADDRESS AND TELEPHONE NUMBER OF PRINCIPAL EXECUTIVE OFFICES
[N/A]
FORMER NAME, ADDRESS AND FISCAL YEAR, IF CHANGED SINCE LAST REPORT
<PAGE>
ITEM 5. OTHER EVENTS
See the following press release, dated April 29, 1997, announcing the
retirement of Ostex International's Chairman of the Board of Directors and Chief
Executive Officer, H. Raymond Cairncross, and resignation of the President and
Chief Operating Officer, Robert J. Glaser.
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FINANCIAL CONTACT: COMPANY CONTACT:
Lillian Armstrong/Adam Aron Robert Littauer, CFO
Lippert/Heilshorn & Associates Ostex International, Inc.
(415) 433-3777 (206) 292-8082
e-mail: [email protected] e-mail: [email protected]
OSTEX ANNOUNCES MANAGEMENT CHANGES
SEATTLE, Washington -- April 29, 1997 -- Ostex International, Inc.
(NASDAQ NM: OSTX) today announced the retirement of H. Raymond Cairncross,
Chairman of the Board and Chief Executive Officer, and the resignation of Robert
J. Glaser, Chief Operating Officer. Messrs. Cairncross and Glaser also resigned
their seats on the Board of Directors.
Raymond Cairncross co-founded Ostex in 1989. Commenting on his
retirement Cairncross said, "I am stepping aside because I believe it is time
for new management to take the great opportunities at Ostex forward. I deeply
appreciate the opportunity to have been involved with the Ostex technology over
the past nine years, and I recommend and wholeheartedly endorse new and
aggressive leadership to assure the success of Osteomark(R) and its follow-on
technology."
Thomas J. Cable, an Ostex director since 1989, was elected Chairman.
Bob Littauer and Jeff Miller, Ostex' Chief Financial Officer and Senior Vice
President of Corporate Development, respectively, will serve in the
newly-created Office of the President. The company has initiated a search to
fill the CEO position. In addition, Fredric J. Feldman, Ph.D., an individual
with many years of experience in the diagnostic industry, was elected to the
Board.
Addressing the restructuring, Cable stated, "The Board of Directors
remains committed to maximizing Ostex' long-term opportunities. Our near-term
focus will be on identifying an effective, experienced individual for the CEO
position. We are also seeking additional candidates to strengthen our Board
membership. We are confident in the existing management team, as well as the
potential of the Company's core technology. Moving forward we will continue to
build our Board with exceptionally competent directors like Fredric Feldman. We
thank Mr. Cairncross and Mr. Glaser for their important contributions to Ostex
and wish them well."
Ostex International, Inc. is engaged in the discovery, development and
commercialization of diagnostics and therapeutics for diseases of the skeleton
and connective tissues. The company believes its lead product, Osteomark,
incorporates breakthrough technology in the area of bone resorption measurement.
Ostex has formed collaborative relationships with a number of leading diagnostic
and pharmaceutical companies to aid in the commercialization of Osteomark.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
OSTEX INTERNATIONAL, INC.
DATE: May 15, 1997 By /S/ ROBERT M. LITTAUER
--------------------------------
Robert M. Littauer
Senior Vice President,
Finance and Administration
(principal financial and
principal accounting officer)
