Dear Threaders,
More good news:
Paracelsian Announces New Chief Executive Officer
Thursday, January 22, 1998 10:49 AM
> ITHACA, N.Y. -- Paracelsian, Inc. (Nasdaq Small Cap: PRLN)announced today that Bernard M. Landes has been hired to the positions of Chief Executive Officer and President. The hiring of Mr. Landes follows the recent announcements of additional financing for Paracelsian and the replacement of the Company's Board of Directors.
"Mr. Landes was selected to head Paracelsian based upon his successful track record of generating revenue," said Mr. T. Nelson Campbell, a newly appointed Director of the Company. "Mr. Landes possesses a wide range of skills, including research, product development and marketing. Perhaps the most important is his demonstrated ability to translate innovative ideas into commercial successes."
Mr. Landes has 22 years of senior management experience in the natural products industry, including the position of Director of Marketing at Health Valley Foods from 1986 to 1994. With oversight of clinical trials and other research, product development, regulatory affairs and marketing, Mr. Landes was primarily responsible for boosting annual sales at the company from $13 million to over $150 million. From 1993 to 1997, Mr. Landes also served on the Board of Directors and Executive Committee of the National Nutritional Foods Association, where he helped develop and promote passage of the Dietary Supplement Health Education Act. After leaving Health Valley, Mr. Landes joined Alacer Corp. as its Vice President and General Manager, where he was responsible for substantially expanding its existing product lines and developing an innovative group of herbal products. Mr. Landes holds an M.B.A. degree from the University of Delaware.
"Rarely does an opportunity come along in the field of health care that is as perfectly timed for the demands of the market as the Paracelsian opportunity," said Mr. Landes. "I am convinced that Paracelsian's scientific foundation is solid. During the time that Paracelsian's scientists were screening the Company's library of Traditional Chinese Medicines, the market for the products and services that Paracelsian is uniquely positioned to offer has exploded." Landes concluded, "I am confident that with the assets the Company possesses, including an experienced and highly qualified team of scientists and a world-class Board of Directors, Paracelsian will begin to generate the types of revenue that so many have believed it is capable of generating."
Mr. Landes replaces Dr. Thomas G. Tachovsky, Paracelsian's Acting CEO. Dr. Tachovsky was hired to guide Paracelsian through the transition period following Keith A. Rhodes's resignation as CEO.
Paracelsian is a company engaged in the discovery and characterization of uniquely beneficial constituents of herbs and other botanicals for use in the natural products and pharmaceutical industries. Its core technology consists of immuno-based and cell-based signal transduction assays.
/CONTACT: Bernard M. Landes, President and CEO of Paracelsian, 607-257-4224/
Quote for referenced ticker symbols: PRLN
c 1998, PR Newswire
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