MONTREAL, Quebec - Velan Inc. annoucned as part of the planned succession of the Company`s finance department, the appointment today of Rejean Ostiguy as its new Chief Financial Officer (CFO). He will be a key member of the company’s senior management team and is succeeding John Ball, who has been effectively carrying out his mandate as CFO since June 1, 2005. Ostiguy will report directly to Yves Leduc, CEO, and the Chair of the Audit Committee of Velan Inc.