Cheung Laboratories Inc. appoints Verle D. Blaha as acting president and chief executive officer.COLUMBIA, Md.--(BUSINESS WIRE)--Sept. 6, 1996--Cheung Laboratories Inc. (CLI) (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CGLB) announced Friday that its board of directors has appointed Verle D. Blaha as acting president and chief executive officer to implement CLI's new business plan to develop and commercialize several recently-acquired patented technologies. On June 12, 1996, CLI entered into an exclusive license agreement with the Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, (MIT MIT - Massachusetts Institute of Technology ) for the commercialization of three MIT patents to be used for the treatment of cancer. On Aug. 27, 1996 CLI entered into a second exclusive license agreement with another party for a patented technology to be used for the treatment of benign prostatic hyperplasia benign prostatic hyperplasia n. Abbr. BPH A nonmalignant enlargement of the prostate gland commonly occurring in men after the age of 50, and sometimes leading to compression of the urethra and obstruction of the flow of urine. (BPH BPH abbr. benign prostatic hyperplasia BPH Benign prostatic hypertrophy, a very common noncancerous cause of prostatic enlargement in older men. ). BPH is a condition which affects more than 50% of all males over the age of 55. From 1957 to 1982, Blaha held a succession of senior management positions at Litton Industries Inc. and served most recently as senior vice president of Technology and Development of Litton's Microwave Cooking Products Division. Blaha was a key member of the management team that built Litton's microwave oven business from $12 million to $200 million. CLI has its main office in Columbia, is traded on the OTC market (symbol CGLB), and has offices in Toronto and Hong Kong. A technology leader in the application of microwave technology, CLI designs, manufactures and sells hyperthermia hyperthermia /hy·per·ther·mia/ (-ther´me-ah) hyperpyrexia; greatly increased body temperature.hyperther´malhyperther´mic malignant hyperthermia medical equipment used for the treatment of cancer and prostatic diseases. CONTACT: Cheung Laboratories, Inc., Columbia John Mon, 410/290-5390 |
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