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Biotech / Medical : Paracelsian Inc (PRLN) -- Ignore unavailable to you. Want to Upgrade?

To: helkel who wrote (3486)	2/26/1998 4:29:00 PM
From: Jonathan Schonsheck	Read Replies (1) \| Respond to of 4342

Threaders - The newest members of the team. Jonathan Paracelsian Adds Two New Directors, Regulatory Counsel At First Meeting of New Board ITHACA, N.Y., Feb. 25 /PRNewswire/ -- Paracelsian, Inc. (Nasdaq: PRLN) held the first meeting of the new Board of Directors appointed by Biomar International, Inc. under the terms of its recent investment in the company. Bernard M. Landes, President and CEO of Paracelsian was elected to the position of Chairman of the Board. Two new board members, Thomas Livingston and Hira L. Gurtoo, Ph.D. were also added to the group of directors previously named. Those included, Mr. Landes, T. Colin Campbell, Ph.D., T. Nelson Campbell, Robert A. Buchanan, MD, James Dunseith, and Lianping He, Ph.D. Thomas Livingston, CPA, is currently President of TLC Management Corporation, a consulting firm specializing in financial management. He has extensive experience in developing financial plans and structuring corporate financing. Mr. Livingston served as Vice President of Finance and Chief Financial Officer for First Carolina Communications (FCC) in an entrepreneurial, transaction intensive environment where he was responsible for internal and external financial reporting, treasury functions and bank/investment bank relationships. During his tenure, FCC consummated transactions, including acquisition, divestitures and financings, aggregating in excess of $1.0 billion, including an initial public offering of debt securities. Before joining FCC, Mr. Livingston spent 12 years with Price Waterhouse, most recently as Senior Audit Manager. Hira L. Gurtoo, Ph.D., a renowned cancer researcher, has been a senior research scientist at Roswell Park Memorial Institute in Buffalo, New York since 1980. He is also Research Professor of Pharmacology, Roswell Park Division of the Graduate School of the State University of New York at Buffalo, a position he has held since 1983. Dr. Gurtoo received his Ph.D. in Biochemistry from Virginia Polytechnic Institute and completed his Post-doctoral work at Yale University. Dr. Gurtoo is qualified to practice Veterinary Medicine and has served as a consultant to the National Academy of Sciences. Dr. Gurtoo has been published extensively. "Mr. Livingston and Dr. Gurtoo round out a highly esteemed Board of Directors that provide Paracelsian with extraordinary intellectual resources and access to key relationships that are absolutely essential to the achievement of the company's goals", commented new Board Chairman Landes. "With our team in place and our goals clearly established, Paracelsian can rapidly move toward the revenue positive position our stockholders hope for and expect," Landes added. The Paracelsian board also confirmed the retention of Sidley & Austin as regulatory counsel for the company. Sidley & Austin is one of the nation's top firms with particular expertise in the area of food and drug law. Sidley & Austin also serves as General Counsel for the National Nutritional Foods Association, a national trade organization representing manufacturers and retailers of natural products, including dietary supplements. Paracelsian, Inc. is a company engaged in the development and application of cell-based and biochemical assays (including its proprietary "signal transduction" assays) to identify and develop promising new drug compounds, over the counter remedies and dietary supplements derived from herbs and other botanicals. The company also provides Quality Assurance services which utilize these "biofunctional" assays to assure consistent batch to batch biofunctionality of herb and botanical based dietary supplements and over the counter remedies carrying label claims describing their benefit or function. Paracelsian also maintains a constantly expanding library of plant extracts (currently numbering in excess of 2700) that have been used in the practice of Traditional Chinese Medicine. These extracts have been screened for specific activity as anti-proliferative and anti-viral agents. The company continues to screen the collection to identify other unique benefits that these extracts provide, both individually and in combination. These extracts are the result of an ongoing agreement with the Institute of Nutrition and Food Hygiene in Beijing, China. Copyright 1998, PR Newswire CONTACT: Bernard M. Landes, President and CEO of Paracelsian,