American Diversified Holdings Corporation Enters into Broad Strategic Alliance with Leading Biotech Company INVENT Pharmaceuticals, Inc.
DEL MAR, Calif. -- Ernest B. Remo, Chairman/CEO of American Diversified Holdings Corporation (Pink Sheets: ADHC), announced today that ADHC has entered into a broad strategic alliance with INVENT Pharmaceuticals, Inc. Under the terms of the agreement ADHC will provide advisory services to INVENT ranging from equity investment, capital formation, regulatory compliance, financial and business operational consulting. American Diversified is eligible under the terms of the agreement to become a major equity shareholder in INVENT Pharmaceuticals upon successful capital formation. As a strategic partner, ADHC will provide consulting services to INVENT to enhance operational efficiency, business and corporate development, and positioning the company for IPO, and/or M&A by a major pharmaceutical or a biotech company.
Dr. Dale Dhanoa has been appointed a founding member of the Medical and Scientific Advisory Board of ADHC and will join internationally renowned anti-aging and wellness physician Dr. George Weiss.
Ernest B. Remo, Chairman of ADHC, commented, "This alliance with INVENT Pharma will enhance and diversify our investment focus in the biotech industry. We have now broadened our interest from the embryonic stem cell arena to development of small molecule therapeutics. The INVENT alliance has now put ADHC on the map as a developer of innovative solutions and therapies in the biotech sector that can potentially help patients suffering from debilitating diseases."
Dr. Dhanoa, President and CEO of INVENT Pharmaceuticals, added, "This strategic alliance with ADHC is an ideal partnership for our company. We feel that we are now in a much more visible position to present our story to Wall Street and the international financial community. We are fully committed to integrate the financial advice, increased market recognition, visibility to potential investors and drug development partners into our cooperate plan. We are primed for major milestone development of our core technologies and this partnership is a key component to this strategy."
ABOUT INVENT PHARMACEUTICALS
INVENT Pharmaceuticals is an innovative biotech company focused on inventing new drugs for the treatment of CNS and cardiovascular diseases with significantly large unmet medical needs. INVENT has discovered, developed and patented its proprietary new drug candidates with significantly improved safety, efficacy and pharmacokinetics than drugs currently in Phase 2 and 3 human clinical trials, for the treatment of Alzheimer's disease, anxiety/depression, hypertension, pulmonary arterial hypertension and chronic obstructive pulmonary disease. INVENT uses its innovative drug discovery approach to develop novel "Investigational New Drug (IND)" candidates rapidly for human clinical trials for FDA approval.
For more information visit http://www.inventpharma.com
ABOUT DR. DALE S. DHANOA
Dr. Dale Dhanoa is the President and CEO of INVENT Pharmaceuticals. He has 20 years of experience in senior management and has invented/authored nearly 120 patents and publications. Dr. Dhanoa's career began at Merck & Co. Dr. Dhanoa has also held senior management and R&D positions as a Research Fellow at Merck, Senior VP of R&D and Drug Discovery at Predix Pharmaceuticals, Executive VP of R&D and Chief Scientific Officer at PharmaCore, Executive Director at 3-Dimensional Pharmaceuticals (acquired by J & J), Director at Alanex (acquired by Agouron, now Pfizer), and Assoc. Director at Synaptic Pharmaceuticals (acquired by Lundbeck A/S of Denmark). He was awarded the 3-D Pharmaceuticals' President's Award for his outstanding achievements and directing drug discovery. At Predix Pharmaceuticals, one of the drug candidates discovered under Dr. Dhanoa's leadership for the treatment of Alzheimer's disease was partnered with GlaxoSmithKline for $1.2 billion.
This press release contains forward-looking statements pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. This press release in no way constitutes any recommendation regarding the securities of ADHC or its affiliates.
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|Date:||Sep 8, 2009|
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