HAYWARD, Calif., June 11, 2013 (GLOBE NEWSWIRE) -- Protelica Inc., a Silicon Valley based innovator in the field of protein engineering, has enlisted Mr. Ed O'Sullivan to join the company's board of directors.
A financial manager with over 20 years of experience in the growth of companies operating in the field technology and life science, Mr. O'Sullivan's has served as the CFO of start-ups as well as "Fortune 50" institutions, and promises to bring the financial insight gained during his past tenures to Protelica's economic outlook.
"Ed joins Protelica at the perfect juncture," said at the time of announcement Dr. Roberto Crea, President and CEO of Protelica. "The Company is implementing some major growth initiatives, and his experience will be invaluable."
Currently a Managing Partner at CFO Connect, LLC, a business management and financial advisory firm providing CFO and Board Financial Expert services to technology and life science companies, Mr. O'Sullivan has served in over a dozen companies, some of which were acquired, while others went public.
"Ed brings a great deal of experience in managing and building businesses," said Mike Honeysett, Chief Business Officer of Protelica. "His expertise in finance and corporate governance are perfectly suited for Protelica and we are quite pleased to have him on our board."
In the course of building and managing businesses, Mr. O'Sullivan for the last two decades has overseen numerous financial transactions, successfully raised over $100 million in equity financing and completed a host of debt financing operations both domestically and internationally.
"I'm enthusiastic about Protelica's vast potential in the biotechnology space and look forward to working closely with the team in targeting and executing on strategic initiatives while building and delivering shareholder value," stated Mr. O'Sullivan accepting his appointment.
About Protelica
Protelica, Inc. is a biotech company founded in 2006 by Dr. Roberto Crea as result of a spin off from BioRen, Inc. a company he sold to Pfizer in 2005. Protelica has developed a number of proprietary DNA Mutagenesis techniques that are applied to protein engineering and optimization. The Company has developed a number of R&D relationships with companies in the biotech field and has received a Phase I and II from the National Science Foundation for its platform technology for the development of Antibody Mimics based upon the Fibronectin Module 14 human scaffold. The Company has laboratory operations in Hayward, California.
Protelica Forward-looking Statements
Certain statements in this news release may be forward-looking. These statements relate to future events or the future economic performance of Protelica, and reflect the current assumptions and expectations of management. Certain unknown factors may affect the events, economic performance and results of operations described herein. Protelica undertakes no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.