Applied NeuroSolutions Announces Intent of John F. DeBernardis to Resign as CEO.VERNON HILLS, Ill. -- Applied NeuroSolutions, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :APNS APNS All Pakistan Newspapers Society APNS Alliance to Protect Nantucket Sound ) (www.appliedneurosolutions.com), a biopharmaceutical company developing novel therapeutic targets for the treatment of, and diagnostics for the detection of, Alzheimer's disease Alzheimer's disease (ăls`hī'mərz, ôls–), degenerative disease of nerve cells in the cerebral cortex that leads to atrophy of the brain and senile dementia. (AD), today announced John F. DeBernardis, Ph.D. has decided to step down as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . The Company also announced the hiring of Sextant sextant, instrument for measuring the altitude of the sun or another celestial body; such measurements can then be used to determine the observer's geographical position or for other navigational, surveying, or astronomical applications. Search Partners, Inc. to assist the Company in its search for a new CEO. Stephen R. Bochner, M.D., a partner in Sextant's Private Equity and Health Care Practice will lead the CEO search. John DeBernardis, Ph.D., who has been with the Company since August 1993, and has served as the Company's President and CEO since October 2004, will step down as CEO when a new CEO is in place. It is anticipated that Dr. DeBernardis will remain with the company after a new CEO is named. This anticipated change of CEO follows the recent announcement that Robert S. Vaters has been appointed Chairman of the Board of Directors of the Company. Commenting on the recent management and director changes, Dr. Peter Davies For other persons of the same name, see Peter Davis. Peter Davies (born March 22, 1989) is a Welsh actor who has appeared in many minor roles in such BBC productions as Little Britain, Holy Cross, and the more recent Sweeney Todd. , the Company's founding scientist, noted, "It is a very exciting time for APNS, as we are making solid progress on our AD therapeutic platform. I look forward to working closely with Dr. DeBernardis as we focus on the therapeutic aspects of AD. The changes being made in the Company's management team and to the Board of Directors should enhance APNS's ability to move our technology platforms towards licensing and commercialization." About Applied NeuroSolutions Applied NeuroSolutions, Inc. (OTCBB:APNS) is developing novel therapeutic targets for the treatment of, and diagnostics for the detection of, Alzheimer's disease. The company's technology is based on discoveries originating from the Albert Einstein College of Medicine
The Albert Einstein College of Medicine (AECOM) is a graduate school of Yeshiva University. It is a private medical school located in the Jack and Pearl Resnick Campus of Yeshiva University in the Morris Park . Applied NeuroSolutions has developed a cerebrospinal fluid cerebrospinal fluid (CSF) Clear, colourless liquid that surrounds the brain and spinal cord and fills the spaces in them. It helps support the brain, acts as a lubricant, maintains pressure in the skull, and cushions shocks. (CSF Cerebrospinal Fluid (CSF) Analysis Definition Cerebrospinal fluid (CSF) analysis is a laboratory test to examine a sample of the fluid surrounding the brain and spinal cord. ) test to detect early-stage Alzheimer's disease with an 85%-95% accuracy in more than 3,500 patient samples. There are approximately 2 million new patients annually worldwide who are candidates for an AD CSF diagnostic test, according to the research firm Datamonitor. The company is also developing a blood serum-based screening test, as well as novel therapeutic targets for treatment of AD. Alzheimer's disease currently afflicts over 4 million Americans, and the market for AD therapy is expected to grow to 21 million patients by 2010 in the seven major pharmaceutical markets (USA, France, Germany, Italy, Spain, U.K. and Japan) according to BioPortfolio, Ltd. There is currently no FDA-approved diagnostic test to detect Alzheimer's disease. For more information, visit www.appliedneurosolutions.com. This press release contains forward-looking statements. Applied NeuroSolutions wishes to caution the readers of this press release that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, the risks associated with new product development and commercialization, clinical trials, intellectual property, regulatory approvals, potential competitive offerings, and access to capital. For further information, please visit the company's website at www.appliedneurosolutions.com, and review the company's filings with the Securities and Exchange Commission. |
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