VIMRx PHARMACEUTICALS INC. EXPANDS BOARD WITH THREE NEW DIRECTORS.Stamford, CT--(BUSINESS WIRE)--June 8, 1995--VIMRx Pharmaceuticals Inc. (Nasdaq SmallCap Market: VMRX (Common Stock), VMRXW (Warrants)) today announced that at its Annual Meeting of Shareholders held on June 2, 1995, shareholders elected three new directors: James V. Sorrentino, Ph.D., president of Healthcare Products Development, Inc.; Lowell Lifschultz, senior partner of the corporate and securities department at Epstein, Becker & Green; and Donald L. Weise, a business consultant to the Company. Philip McCarthy, a director since 1987, did not run for re-election. With these three new directors, VIMRx's Board of Directors was expanded from five to seven members.Donald Hudson, 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. of VIMRx, commented, "The addition of Messrs. Lifschultz, Weise and Sorrentino to our Board meaningfully strengthens VIMRx's expertise in the areas of research, development and finance. By drawing from this expanded pool of industry experience, we believe VIMRx is in a stronger position to diversify our opportunities into multiple development projects and to aid in funding these programs by expanding our efforts to obtain a corporate partner." James V. Sorrentino, age 58, has since 1992 served as President of Healthcare Products Development, Inc., a clinical research organization that designs, organizes and manages clinical trials for the pharmaceutical and biological industry. From 1990 to 1992, Dr. Sorrentino served as Director of Worldwide Clinical Development (Nonprescription non·pre·scrip·tion adj. Sold legally without a physician's prescription; over-the-counter. Drug Products) of The Procter & Gamble Company (Richardson-Vicks). Dr. Sorrentino served in several divisions of Richardson-Vicks, Inc. from 1971 to 1992. Lowell Lifschultz and Donald Weise bring financing and corporate development experience to VIMRx. Lifschultz, age 49, has served as VIMRx's attorney since 1989. He specializes in mergers and acquisitions as well as venture capital. He is also responsible for the development of an international lawyers network. Weise, age 60, recently retired as Director of Licensing and Acquisitions from the Ortho-McNeil Pharmaceutical Division of Johnson & Johnson. VIMRx Pharmaceuticals Inc. is developing therapeutic products to fight the spread of viral and retroviral diseases. The in vitro in vitro /in vi·tro/ (in ve´tro) [L.] within a glass; observable in a test tube; in an artificial environment. in vi·tro adj. In an artificial environment outside a living organism. antiviral antiviral /an·ti·vi·ral/ (-vi´ral) destroying viruses or suppressing their replication, or an agent that so acts. an·ti·vi·ral adj. properties of hypericin hy·per·i·cin n. A drug, produced synthetically or as an extract of Saint John's wort, used as an antidepressant and antiviral agent. hypericin were initially documented at the Weizmann Institute of Science The Weizmann Institute of Science (מכון ויצמן למדע) is a world-renowned institute of higher learning and research in Rehovot, Israel. in Israel. Further studies and the discovery of the antiviral properties of hypericin were made at NYU NYU New York University NYU New York Undercover (TV show) Medical Center. VIMRx has exclusive worldwide rights to develop and commercialize hypericin and its derivatives. CONTACT: VIMRx Pharmaceuticals Inc. F. Donald Hudson President & Chief Executive Officer (203) 329-0811 or INVESTOR RELATIONS Investor relations The process by which the corporation communicates with its investors. COUNSEL: The Equity Group Eileen Shell (212) 836-9606 Robert Goldstein (212) 371-8660 |
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