Company Press Release Tuesday June 10 8:51 AM EDT
Source: Paracelsian Inc.
Paracelsian Inc. Appoints Three New Members To Its Board Of Directors
ITHACA, N.Y., June 10 /PRNewswire/ -- Paracelsian Inc. (Nasdaq:PRLN) announced today that it has set the number of directors at seven and filled the three vacancies on its Board of Directors.
The Company elected Lee Henderson, Ph.D., Stephen Ip, Ph.D, and Steven Dentali Ph.D, to its Board of Directors. Dr. Henderson is the chairman and chief executive officer of Viral Therapeutics, Inc., an antiviral drug discovery company which also manufactures recombinant proteins. Dr. Henderson is also the discover of the HIV coreceptor, which he has patented. Dr. Henderson has been elected a Class II director whose erm will expire at the upcoming annual meeting.
Dr. Ip is the Executive Vice President and Chief Operating Officer of American Biogenetic Sciences, Inc., a biotechnology company, since Feb., 1997. Dr. Ip previously held the position of vice president, corporate & business development for Paracelsian in 1996 and has extensive knowledge of Traditional Chinese Medicine and herbs. Dr. Ip has been elected a Class I director whose term will expire at the 1999 annual meeting.
Dr. Steve it Dentali is currently the owner of Dentali Associates, a natural products consulting services company. Dr. Dentali, who served as a member of the Study Section for proposals submitted on herbal medicine for the Office of Alternative Medicine at the National Institute of Health in 1993, was elected a Class III director whose term will expire at the 1998 annual meeting.
Paracelsian also announced that its annual shareholders' meeting has been scheduled for Aug. 13, 1997, in Ithaca New York. All shareholders of record as of July 10, 1997, will receive notice of and be entitled to vote at and attend the meeting.
Paracelsian is a biotechnology company engaged in the discovery of useful products from herbal sources. Its discoveries are accomplished by applying the Company's proprietary screening technology based in signal transduction, to its library of extracts used in Traditional Chinese Medicine.
SOURCE: Paracelsian Inc.
Contact: Jeff Goodman of Ronald Trahan Associates, Inc., 617-332-0101 |
