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FOUNTAIN ANNOUNCES COMPLETION OF MANAGEMENT REORGANIZATION; DR. FOUNTAIN TO REJOIN THE COMPANY

 FOUNTAIN ANNOUNCES COMPLETION OF MANAGEMENT REORGANIZATION;
 DR. FOUNTAIN TO REJOIN THE COMPANY
 LARGO, Fla., Aug. 31 /PRNewswire/ -- Fountain Pharmaceuticals, Inc. (NASDAQ: FPHI) announced today that it has completed the reorganization of management that was commenced during June 1992.
 Pursuant to the reorganization, the company hired John C. Walsh as its chief executive officer and president effective as of July 1, 1992. Walsh has extensive pharmaceutical industry experience, having served in various executive capacities for more than 20 years with Merck & Co., Inc., a worldwide leading pharmaceutical company.
 Walsh stated, "The company is also pleased to announce that after a brief personal leave of absence, Dr. Michael Fountain will rejoin the company as of September 1, 1992." According to Walsh, "pursuant to the terms of a new one year agreement, Dr. Fountain will serve as a member of the company's research and development group and chairman of a newly constituted Scientific Advisory Council. Dr. Fountain's efforts are expected to be provided on a full-time basis through the end of November 1992. Thereafter, he will serve as a consultant and will continue to coordinate the company's continuing research and development efforts in that capacity."
 "The company has also implemented additional personnel changes," according to Walsh, "naming Mr. Steven Heicklen as director of marketing, Mr. Francis J. Werner as director of Finance and Administration and Mr. Weldon Crow as director of Product Development. Additionally, Mr. Clark A. Marcus, formerly a director and general counsel, has elected to resign for personal reasons."
 Fountain Pharmaceuticals, Inc. is a development stage company that has specialized in the application of encapsulated drug delivery systems for the purposes of improving drug compound delivery and enhancing effectiveness of existing drug compound products. The company is currently reviewing opportunities for the development and marketing of a proprietary line of products with application in both the human health care and consumer goods industries.
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 -0- 8/31/92
 /CONTACT: John C. Walsh, of Fountain Pharmaceuticals, 813-392-5300/ CO: Fountain Pharmaceuticals, Inc. ST: Florida IN: MTC SU: PER


MJ-JS -- PH030 -- 5110 08/31/92 16:38 EDT
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Publication:PR Newswire
Date:Aug 31, 1992
Words:344
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