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Biotech / Medical : Paracelsian Inc (PRLN)

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To: Rick Costantino who wrote (2524)	4/23/1997 4:18:00 PM
From: Jim Schnereger	of 4342

Wednesday April 23 1:51 PM EDT Paracelsian Inc says product launch delayed ITHACA, N.Y., April 23 (Reuter) - Paracelsian Inc said Wednesday it does not expect to meet its previously announced target date of May 1997 to launch its first product, a dietary supplement. The delay has been caused in part by recent management level resignations in the company and the need to further evaluate the proposed product, it said. "While a revised launch date has not been set, the company believes that the product will be launched before the end of the company' current fiscal year, Septebmer 30, 1997," it said. It said that, through an executive search firm, it has interviewed qualified individuals and intends to hire people to replace those who have left as soon as possible. Paraclesian is a biotechnology firm developing products from herbal sources.

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