BUFFALO GROVE, Ill., July 29 /PRNewswire/ -- Efoora Inc., a late stage
developer and manufacturer of laboratory quality rapid biotech diagnostic
tests and components, today announced the appointment of Michael J. Minarich
as its Chief Executive Officer and Member of the Company's Board of Directors
effective August 9, 2004. Mr. Minarich will replace David Grosky, Efoora's
current Chairman, who has served as the Company's CEO for the past seven
years. Mr. Grosky will continue in his capacity as Chairman of the Board and
will remain CEO and Chairman of the Board of Prion Developmental Laboratories
Mr. Minarich has more than 23 years of international experience and
expertise leading healthcare operations in North America, Europe and Asia. For
most of the past 20 years he has been an expatriate growing businesses from
startup, integrating an over-the-counter (OTC) and consumer product
acquisition as well as a wholesale distribution organization and merging
various sized pharmaceutical, OTC and consumer operations. Most recently Mr.
Minarich served as the Pharmacia Corporation's Market Company President in the
Czech Republic responsible for merging the Searle and Pharmacia & Upjohn
organizations into a successful new entity ranking among the five fastest
growing companies in that marketplace. Prior to this position, Mr. Minarich
held a number of positions of increasing responsibility in General Management,
Marketing, and Business Development for a number of businesses in Eastern and
Western Europe, Canada and South Korea with a Pharmacia legacy company, G.D.
Searle, the $4 billion pharmaceutical division of The Monsanto Company.
Mr. Minarich received a B.A. degree, with Honors, in 1975 from Illinois
State University and an MBA in International Management from the American
Graduate School of International Management (Thunderbird) in 1977.
Mr. Grosky stated: "We are very pleased to have Mike joining Efoora at
this critical juncture in the company's development. Mike's demonstrated
expertise in developing new markets and rapidly establishing successful
businesses through sales and earnings growth are the talents we urgently need
to establish our unique technologies. Additionally, he brings a depth of
healthcare industry knowledge and an extensive range of geographical
experience and contacts, which will expedite this process."
"I am very excited to be joining the Efoora team," said Michael Minarich.
"I believe that Efoora has great potential with its core technologies, and I
look forward to the challenge of transforming what has been a successful R&D
effort into significant commercial success."
Efoora Inc. is a developer of rapid diagnostic tests and biosensors for a
variety of diseases including HIV, Bovine Spongiform Encephalopathy (BSE) and
Chronic Wasting Disease (CWD). Efoora's flagship assay, the Efoora Rapid HIV
test, has completed U.S. clinical trials and is under review by the U.S. Food
and Drug Administration. Efoora's test format utilizes an innovative
biochemical approach developed as a result of years of research that yields
both consistent and reproducible assays compliant under both GLP and GMP.
Efoora's assays are manufactured using Virotek's proprietary, cost-saving
technology. Virotek is the in-vitro diagnostic and medical
device-manufacturing subsidiary of Efoora.
For more information about Efoora and its subsidiaries, please visit
This release includes forward-looking statements, which reflect Efoora
Inc.'s current view with respect to future events and financial performance.
These forward-looking statements are subject to certain risks and
uncertainties, which could cause actual results to differ materially from
historical or anticipated results. The words "believe," "expect," "anticipate"
and similar expressions identify forward-looking statements. Readers are
cautioned not to place undue reliance on these forward-looking statements. The
Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. For a discussion of certain factors that could cause
actual results to differ materially from historical or anticipated results,
including investment risks, development risks and changes in the economic
climate, please contact the Company.
SOURCE Efoora Inc.