Applied NeuroSolutions Appoints Ellen Hoffing as President and CEO.VERNON HILLS, Ill. -- Former Searle, Baxter and American Pharmaceutical Partners Senior Healthcare Executive Hired to Lead the Company 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 the appointment of former Baxter Healthcare Corporation (NYSE NYSE See: New York Stock Exchange :BAX) and American Pharmaceutical Partners (now called Abraxis BioScience)(NasdaqGS:ABBI Advanced Breast Biopsy Instrument (ABBI) Uses a rotating circular knife and thin heated electrical wire to remove a large cylinder of abnormal breast tissue. Mentioned in: Fibrocystic Condition of the Breast ) executive Ellen R. Hoffing as its President and 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. and a member of its Board of Directors, replacing John DeBernardis, Ph.D. who announced his intent to step down as CEO on July 19, 2006. Ms. Hoffing is an accomplished healthcare executive with a broad range of leadership experience in the following areas: strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. , global operations Global Operations is a first-person shooter computer game developed by Barking Dog Studios and published by both Crave Entertainment and Electronic Arts. It was released in March of 2002, following its public multiplayer beta version which contained only the Quebec map. , marketing, finance and business development. Prior to her tenure at American Pharmaceutical Partners, where she was Vice President, Strategic Planning, Ms. Hoffing served as Vice President, Renal Pharmaceuticals at Baxter Healthcare. In her 17 years at the Searle division of Monsanto, Ms. Hoffing took on roles of increasing responsibility, including Vice President, Global Analytics, where she was a key contributor in the market preparation and global launch of blockbuster drugs such as Celebrex(R). Although Dr. DeBernardis is stepping down as President, CEO and a member of the board he will remain with the Company as a senior advisor to Ms. Hoffing and will focus on the development of therapeutics to treat AD with Dr. Peter Davies, the Company's founding scientist. Commenting on the appointment, Robert S. Vaters, APNS Chairman of the Board said, "We are pleased to welcome Ellen to APNS and are confident that she has the skill set to lead APNS through our next stage of development. Her strong background in commercializing major pharma and healthcare products from the pre-clinical stage to global launch should be extremely valuable as we pursue significant licensing and partnership arrangements." In reaction to her new role Ellen added "It is a thrilling time to be joining the company as it is well positioned to make important contributions to address the needs of Alzheimer's patients and their families. I look forward to helping maximize the potential of APNS's unique technology in this large and growing market." 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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