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

To: John H. Farro who wrote (4097)	1/19/1999 12:38:00 PM
From: John H. Farro	Read Replies (1) \| Respond to of 4342

Paracelsian Announces CEO Contract Renewal ITHACA, N.Y., Jan. 19 /PRNewswire/ -- Paracelsian Inc. (Nasdaq: PRLN - news; paracelsian.com ) announced today that Bernie Landes, the Company's CEO and President, has signed a new employment contract with the Company, renewing his employment for another 12 month term. ''Bernie has been an effective CEO for Paracelsian, under adverse conditions,'' said T. Nelson Campbell, a Director of Paracelsian and Chairman of Biomar International. ''Under Bernie's leadership, the Company has redefined its business strategy, developed the BioFit™ testing program, secured a partnership with R.P. Scherer to generate BioFit™ revenue, and entered into an exciting pharmaceutical research collaboration with the Southern Research Institute,'' continued Mr. Campbell. ''We are pleased with this progress and look forward to Bernie's continued leadership,'' concluded Mr. Campbell. Paracelsian is a unique biotechnology company whose business centers on the development and application of functional bioassays. These assays are used for Quality Assurance of herbs, botanicals and other dietary supplements, in the development of dietary supplements, OTC and pharmaceutical products, and in monitoring environmental toxins and identifying carcinogens. Notice: This news release may contain forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including but not limited to, the results of research and development efforts, the effect of regulation by the United States Food and Drug Administration and other agencies, the impact of competitive products, product development, commercialization and technological difficulties, and other risks detailed in the Company's periodic reports filed with the Securities and Exchange Commission. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements. SOURCE: Paracelsian Inc.