Dear Threaders,
Here's the New Board of Directors:
Paracelsian Announces New Board Selections
Tuesday, January 20, 1998 09:53 AM
> ITHACA, N.Y. -- Paracelsian, Inc. (Nasdaq:PRLN) announced today that Biomar International, Inc. has selected a new slate of Directors for appointment to the Paracelsian Board of Directors. Under the terms of Biomar's recent investment in Paracelsian, the Paracelsian Board of Directors submitted their resignations and Biomar was provided the right to select their replacements. The appointments of the new Directors will take effect 10 days following shareholder notification by mail.
"Besides giving Paracelsian a fresh start, the new Board selections will provide the Company with expertise and relationships relevant to its mission," said Dr. Timothy J. Smith, President and CEO of Biomar. "The new Board selections include representation of the pharmaceutical and natural products industries, the financial community, Chinese interests and Biomar. In addition to possessing relevant expertise, these individuals have each achieved a high degree of success in their careers. For this reason, we believe they will provide Paracelsian with bold leadership and a clear vision of the future," said Dr. Smith.
Individuals selected by Biomar to serve on the new Board of Paracelsian include T. Colin Campbell, Bernard M. Landes, Robert A. Buchanan, Lianping He, James J. Dunseith and T. Nelson Campbell.
T. Colin Campbell, Ph.D., holds an endowed professorship at Cornell University and is world-renowned for his research of chronic degenerative diseases, particularly as they relate to nutrition. He has published more than 300 scientific articles; the research that is most often cited pertains to an ongoing, 16 year research collaboration in China, focusing on the effects of nutrition and other lifestyle factors on the incidence of cancer and other chronic diseases. Dr. Campbell was formerly a Director of Paracelsian, where he played a key role in establishing Paracelsian's research opportunities in China. Due to his dissatisfaction with that Board's policies and management he resigned in April of 1997. Dr. Campbell is also co-founder of Biomar and Chairman of its Science Advisory Board. Dr. Campbell received a Ph.D. in Nutritional Biochemistry from Cornell and currently resides in Ithaca, NY.
Bernard M. 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 and currently resides in Laguna Niguel, California.
Robert A. Buchanan, M.D., is a physician with extensive experience in pharmaceutical development and regulatory affairs. A graduate of the University of Michigan Medical School, he is board-certified in pediatrics. Dr. Buchanan has devoted most of his professional career to the clinical investigation of new pharmaceuticals, retiring from Parke-Davis/Warner-Lambert as Vice President, Medical Research. Subsequently he has prepared New Drug Applications as a medical consultant for other firms. His regulatory experience includes working with both the FDA and Common Market regulatory authorities. Dr. Buchanan has published some 60 articles in the medical literature, and authored two textbooks.
Lianping He, Ph.D., is the Executive President of the Chinese Service Center for Scholarly Exchange, Inc. This program, initiated by the Chinese government, provides networking benefits for Chinese student scholars in the United States, and also promotes technology transfer between China and the U.S. Prior to his involvement with the Chinese Service Center, Dr. Lianping He served as the First Secretary of the Chinese Embassy in Washington, D.C. While with the Embassy, he also directed the U.S.-China Education Exchange program, with responsibility for the selection and placement of Chinese scholars for study in the U.S. Dr. Lianping He holds Masters and Doctorate degrees in Education Administration from Cornell University. He currently resides in New York City.
James J. Dunseith is the former Chairman, President and CEO of Shields Capital Management. With over $10 billion in assets under management, Shields Capital was sold to Xerox Financial Services in 1988. Mr. Duaseith retired from the position of CEO and President in May 1991 and continued as a consultant to the firm until May 1993. Mr. Dunseith holds a Bachelors degree from Fordham University, and an M.B.A. from St. John's University. He presently resides in Long Island, NY.
T. Nelson Campbell, already appointed to Paracelsian's Board of Directors to represent Biomar during the interim period, has significant entrepreneurial experience, Mr. Campbell co-founded Biomar International and presently serves as that company's Chairman. Prior to founding Biomar, Mr. Campbell founded and served as President of Pacific Liaisons, where he managed a research operation and cultivated business relationships in China, and steered Pacific Liaisons into a merger with Paracelsian. He then served as a Vice President of Paracelsian until June 1996, when he resigned due to his dissatisfaction with the Company's management. Mr. Campbell holds a Masters degree in Economics from Cornell University and currently resides in Chapel Hill, North Carolina.
"We are gratified that people of such prominence will be serving on Paracelsian's Board. With these kinds of people involved, we are confident Paracelsian's potential can be realized," concluded Dr. Smith of Biomar.
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: Thomas Tachovsky of Paracelsian, 607-257-4224/
Quote for referenced ticker symbols: PRLN |
