FREEHOLD, N.J., June 16, 2005 (PRIMEZONE) -- New Life Scientific, Inc. (OTCBB:NWLF) announced today, the election and appointment of new officers and directors of the company.
Wieslaw J. Bochenek, M.D., Ph.D., F.A.C.P. has been elected to the board of directors and has been also been appointed as president of the company.
Eugene Zabolotsky, has been elected to the board of directors and has been appointed as corporate secretary.
Dr. Bochenek provides strong leadership and experience to the company, including fifteen years in the pharmaceutical industry with prior academic, clinical and bench research experience in the therapeutic areas of gastroenterology, diabetes, lipids, and osteoporosis. Dr. Bochenek also has an appointment as an Adjunct Clinical Associate Professor of Medicine at the Division of Gastroenterology, University of Pennsylvania, Philadelphia, PA.
Dr. Bochenek's previous positions range from Associate to Senior Director of Drug Development, including; developmental strategies from pre-clinical through NDA submission; supervision of the conduct of clinical projects (Phase II - IIIb) using in-house teams and CROs; medical monitoring of domestic and international phase I, II, III and IIIb, IV trials; and close interaction with drug discovery and pre-clinical drug development.
Dr. Bochenek has overseen the work of up to three clinical teams of 30 or more individuals, each working on different NDA track projects and has interacted with the FDA and international regulatory agencies for presentation of proposals for clinical studies. He has held the positions of President of PhamaTrails, International LLC; Senior Director, Gastroenterology Medical/Clinical Development for Pfizer; and Senior Director of Clinical Research & Development for Wyeth Ayerst Research.
Mr. Zabolotsky's impressive career includes positions as Director of Business Development at PharmaTrials International, a clinical research organization specializing in the management of clinical research programs for the pharmaceutical, biotechnology, and medical device industry; Director of Business Development at EZMED Inc., a consulting company that provides business services to healthcare companies ranging from medical group practices to start-up biotechnology companies seeking to introduce products or services to the marketplace; and, various positions in the sales and marketing divisions of Searle Pharmaceuticals, Monsanto, Pharmacia Corporation and Pfizer Inc.
Mr. Zabolotsky obtained his MBA in Health Care Management from Regis University and his undergraduate degree in Health Sciences from the College of Mount St. Vincent in Riverdale, NY.
The appointment of Dr. Bochenek and Mr. Zabolotky reflects the commitment on the part of New Life Scientific, Inc. to strengthen and solidify management and to continue to attract strong and experienced leadership with which to guide the company.
About New Life Scientific, Inc. (NWLF):
NWLF recently acquired Novo Life Scientific (Ukraine), the holder of a cooperation agreement with the Institute of Molecular Biology and Genetics of the Ukrainian Academy of Sciences (IMBG). Nova Life Scientific, in conjunction with IMBG, highly regarded for its extensive knowledge and expertise in the fields of molecular cell biology and molecular genetics research, intends to develop and market certain stem cell related products and therapies, and to establish a stem cell bank in the region of Ukraine. Novo Life Scientific (Ukraine) has been researching and is in the process of developing the business model for the creation of a stem cell bank and stem cell treatment facilities to be based in Europe. The company hopes to analyze and share its research regarding stem cell therapy and tissue regeneration with other scientific groups and to take advantage of the extensive research previously conducted in Ukraine by IMBG.
New Life Scientific, Inc. has also recently acquired PharmaTrials (PTI), a provider of services in the areas of clinical trials, market research and the regulatory approval of products for pharmaceutical companies and Contract Research Organizations (CROs).
Safe Harbor Statement:
This information includes certain "forward-looking statements." The forward-looking statements reflect the beliefs, expectations, objectives, and goals of the Company management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results. Important factors that may impact actual results include, but are not limited to commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation and regulations. Matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Forward-looking statements are intended to qualify for the safe harbor provisions of Section 21E of the Securities and Exchange Act of 1934, as amended.