Threaders -
Things are getting serious with BioFIT!
Paracelsian Announces Key BioFIT(TM) Appointment
ITHACA, N.Y., March 24 /PRNewswire/ -- Paracelsian, Inc. (OTC Bulletin Board: PRLN - news) announced today that Mr. Frank E. Reilly has been appointed to the position of Interim President of its key BioFIT(TM) Functional Testing and Product Development Division. Most recently, Mr. Reilly held the position of Vice President of Global Business Development for Nutrition with R.P. Scherer.
''Mr. Reilly is uniquely qualified to lead Paracelsian's most important core business unit,'' said Bernie Landes, Paracelsian's Chairman, President and CEO. ''Paracelsian's BioFIT(TM) division develops and implements the company's patent pending functional bioassay technology that is essential to the Company's long term success. For that reason, it requires aggressive, experienced leadership,'' continued Mr. Landes. ''We believe that Mr. Reilly's extraordinary Marketing, Sales, Brand Management and International Business Development experience with some of the best managed consumer nutrition and health care companies in the world provides Paracelsian the opportunity for significant appreciation in the Company's value in the future. The fact that we are able to attract a person of such extraordinary capability further underscores our belief in the strength of the BioFIT concept,'' Landes concluded.
In the initial period of Mr. Reilly's involvement, during which time he will be satisfying existing commitments, he will gradually take over the management of Paracelsian's BioFIT(TM) division from Chairman and CEO Bernie Landes. After the initial period, it is anticipated that Mr. Reilly's appointment will become permanent. The BioFIT(TM) Division develops and applies functional testing systems for Quality Assurance of botanical products and for the development of Dietary Supplements, OTC preparations, Functional Foods and Nutraceuticals.
Mr. Reilly has held senior positions with many of the leading global healthcare companies serving the Dietary Supplement, Prescription and OTC segments of the business. Prior to his most recent position with R.P. Scherer, Mr. Reilly also held the position of Vice President for Marketing and Sales for the HealthCare Division for North America for Nutritional, Prescription and OTC Products. During his tenure many highly successful new Liqui-Gels Branded Products were introduced with some of the largest consumer healthcare and pharmaceutical companies in the world.
In addition, Mr. Reilly has had a distinguished career in Brand Management for such well known brands as Alka-Seltzer, Alka-Seltzer Plus Cold Medicine, One a Day Vitamins, Flintstones Vitamins and Bugs Bunny Vitamins for Bayer's Consumer Healthcare Division. Mr. Reilly also held Sales Management positions for Bayer including the responsibility for Wal-Mart, the largest retailer of consumer health care products in the world. Mr. Reilly also held Sales positions with Johnson and Johnson and Nestle Foods prior to coming to Bayer.
Mr. Reilly has also served on the Board of the Council of Responsible Nutrition (CRN), the largest trade organization for the dietary supplement industry, for the last several years.
''I am very excited about being a part of the Paracelsian team, as BioFIT is uniquely positioned to capitalize on the growing emphasis on health related products for the aging population worldwide,'' said Mr. Reilly. ''As a former consumer package goods Brand Manager working on some of the largest, most successful and widely known OTC and Nutritional Brands in the world, I realized early on that unique product differentiation is critical to launching successful consumer brands in the market. The BioFIT technology is an excellent vehicle to achieve this objective,'' concluded Mr. Reilly.
With Mr. Reilly's appointment, Paracelsian now has appointed Presidents for two of it's three operating divisions. Recently the company announced the appointment of Dr. Hira L. Gurtoo, Ph.D. as President of Paracelsian's Drug Development Division.
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