Boston Life Sciences Names Peter Savas as Board Chairman and Chief Executive Officer.BOSTON -- Boston Life Sciences, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BLSI BLSI Boston Life Sciences, Inc. ) announced that Mr. Peter Savas has joined as Chairman of the Board and Chief Executive Officer. Mr. Savas brings 20 years of experience in the development and commercialization of life science related products and services. Prior to joining Boston Life Sciences, Mr. Savas served 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. of Aderis Pharmaceutical where he completed a $45 million equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. and strengthened its corporate partnerships, board of directors, management team and scientific advisory board. "Peter's experience and skill in raising capital, building collaborative relationships and product marketing will be invaluable to the Company," stated Dr. Robert Langer, who has served as interim Chairman. "I am pleased to join Boston Life Sciences at a pivotal stage in its evolution. With Altropane currently in Phase III Noun 1. phase III - a large clinical trial of a treatment or drug that in phase I and phase II has been shown to be efficacious with tolerable side effects; after successful conclusion of these clinical trials it will receive formal approval from the FDA and Axosine poised to begin Phase I, the Company is positioned to achieve important milestones over the next eighteen months," stated Mr. Savas. Boston Life Sciences, Inc. (BLSI) is a development stage biotechnology company engaged in the research and clinical development of novel therapeutic and diagnostic products for central nervous system diseases and cancer. The company's product pipeline include: ALTROPANE(R), AXOSINE(TM), FLUORATEC(TM) and Troponin I troponin I n. A subunit of troponin found in muscle and cartilage that inhibits the formation of blood vessels and is under investigation as a potential cancer therapy. . Statements made in this press release other than statements of historical fact represent forward-looking statements. Such statements include, without limitation, statements regarding expectations or beliefs as to future results or events, such as the expected timing and results of clinical trials (including the timing of the initiation of the Phase I Axosine study), achievements and milestones, schedules of IND, NDA (Non Disclosure Agreement) An agreement signed between two parties that have to disclose confidential information to each other in order to do business. In general, the NDA states why the information is being divulged and stipulates that it cannot be used for any and all other regulatory submissions and the possible approval of products. All such forward-looking statements involve substantial risks and uncertainties, and actual results may vary materially from these statements. Factors that may affect future results include: the availability and adequacy of financial resources, delays in the regulatory or development processes, results from clinical and pre-clinical trials, regulatory decisions, market acceptance of the Company's products, the ability to obtain intellectual property protection, the outcome of discussions with potential partners and other possible risks and uncertainties that have been noted in reports filed by the Company with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . |
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