Aspreva Pharmaceuticals Board of Directors today announced initiation of a process to search for a successor for founding CEO Richard Glickman, who today advised the board of his intention to step down for personal reasons. Mr. Glickman will continue in his capacity as CEO throughout the transition process, which is expected to be completed by the end of 2007.

George Milne, lead director of Aspreva’s Board of Directors stated, “We respect Richard’s decision to step down and thank him for his tireless work over the past six years. Richard has played a crucial role in founding and developing a company with an excellent financial base, strong global clinical and regulatory capabilities, and underpinned by an exceptional management team.”