BOCA RATON, Fla., Feb. 3, 2016 /PRNewswire/ -- IM HealthScience®, a privately held medical foods company based in Boca Raton, Florida, today announced it has created an independent spin off called Physician's Seal. The new company will focus on the development and commercialization of novel- and science-based dietary supplements and over-the-counter (OTC) drugs.
Fred Hassan, non-executive Chairman of IM HealthScience®, stated, "We are proud to expand our family of businesses to a wider market using our exceptional science base and our broad intellectual property portfolio. We also will be leveraging the success of our initial medical foods product, IBgard®, specially formulated for the dietary management of Irritable Bowel Syndrome (IBS)."
Hassan continued, "We recognize the need for more scientifically validated dietary supplements and OTC drug products and I feel that Physician's Seal can help contribute by offering innovative and differentiated products."
The new company has named Hassan's son, Daniel Hassan, as its Chief Executive Officer. Prior to his new role, Daniel served as Chief Commercial Officer of IM HealthScience®.
Commenting on his new responsibility as head of Physician's Seal, Ellen Geisel, President of IM HealthScience®, said, "Dan brings a high level of enthusiasm, strategic thinking and execution that will be missed at IM HealthScience®. We know he will have continued success as CEO of this new venture."
This will be the second CEO position that Daniel Hassan has held over the last decade. Previously he ran Boston-based technology company, BCM, before joining IM HealthScience® four years ago.
According to Daniel Hassan, "This is a great opportunity to raise the bar in the world of supplements and OTC products. I have learned tremendously from the fantastic people at IM HealthScience® and look forward to building a team and changing lives one product at a time."
About IM HealthScience®
IM HealthScience® is a privately held company based in Boca Raton, Florida, that developed IBgard®. It was founded in 2010 by a team of highly experienced pharmaceutical research and development and management executives. The company is dedicated to developing products to address gastrointestinal issues where there is a high unmet need, including Irritable Bowel Syndrome (IBS), Functional Dyspepsia, Ulcerative Colitis, and Crohn's Disease. The IM HealthScience® advantage comes from developing products based on its patented, targeted- delivery technologies called Site Specific Targeting (SST®). For more information, visit www.IBgard.com to learn more about IBgard®.
About Physician's Seal®
Physician's Seal® is a privately held company based in Boca Raton, Florida, that has several, advanced new product candidates in development.
SOURCE IM HealthScience