Proteo Biotech AG Expands Management Board
December 05 2014 - 4:00AM
Business Wire
Proteo, Inc. (OTCQB: PTEO) and its wholly-owned subsidiary
Proteo Biotech AG today announced that the company strengthens its
Management Board. The Supervisory Board of Proteo Biotech AG has
appointed Dr. Juergen Paal as a new member of the company’s
Management Board, effective from Dec 1st, 2014. In this leadership
role as Proteo Biotech AG's new Chief Operating Officer, he will be
responsible for Proteo's clinical development program, product
launch preparation, business development and partnering
initiatives.
This appointment follows Dr. Paal's involvement with Proteo
Biotech AG since 2006 when he joined the scientific advisory board.
Dr. Paal has worked in two major international health care
companies where he has acquired more than 13 years of experience in
research and development, corporate strategic management and
business development. Dr. Paal joins from Fresenius Medical Care,
where he held a director's position with responsibility for
business development in therapeutic apheresis.
"We welcome Juergen to the Management Board. We have profited
greatly from Juergen's contributions in his former advisory role
for Proteo, and together with his international working experience
in leading positions in the health care industry, his appointment
to the Management Board represents an important cornerstone in the
preparation for the commercialization of Elafin" said Birge
Bargmann, Chief Executive Officer, and Oliver Wiedow, Chairman of
the Supervisory Board..
Dr. Paal commented: "It is an exciting moment to join Proteo
Biotech AG at this advanced stage of the clinical development of
the company's drug candidate Elafin after the drug has shown
promising results in phase I and phase II clinical trials. The
major focus is now on the pivotal clinical trial with Elafin in its
lead indication, and the exploration of partnering opportunities
for the marketing and distribution of Elafin to exploit the full
commercial potentials of this promising product."
About Proteo
Proteo, Inc. is a Nevada corporation and has one wholly owned
subsidiary, Proteo Biotech AG, a German corporation. The Company is
a clinical stage drug development company focusing on the
development of anti-inflammatory treatments for rare diseases with
significant unmet needs (www.proteo.de).
Forward-Looking Statements
Certain statements in this news release may contain
forward-looking information within the meaning of Rule 175 under
the Securities Act of 1933 and Rule 3b-6 under the Securities
Exchange Act of 1934, and are subject to the safe harbor created by
those rules. All statements, other than statements of fact included
in this release, including, without limitation, statements
regarding potential future plans and objectives of the company, are
forward-looking statements that involve risks and uncertainties.
There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ
materially from those anticipated in such statements. Technical
complications that may arise could prevent the prompt
implementation of any strategically significant plan(s) outlined
above. The company cautions that these forward looking statements
and risks and uncertainties involved are further qualified by other
factors including, but not limited to those set forth in the
company’s Form 10-K filing and other filings with the United States
Securities and Exchange Commission. The company undertakes no
obligation to publicly update or revise any statements in this
release, whether as a result of new information, future events or
otherwise.
Proteo, Inc.Dr. Barbara KahlkeEmail: info@proteo.deTelephone:
+49 431 8888-462Fax: +49 431 8888-463
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