NEW HOPE, Pa., Aug. 24 /PRNewswire-FirstCall/ -- Protalex Inc.
(OTC Bulletin Board: PRTX) announced today that John E. Doherty, the Company's
founder and former CEO will step down after serving out his current term on
the Board of Directors. Doherty, who was first to postulate that Protein A
could have therapeutic effects in humans, was responsible for raising the
initial capital to carry out the first successful proof of concept studies in
animal models. Doherty then went on to recruit the current management and
scientific team which filed its' first IND in March 2005. He leaves to devote
more time to his other business ventures.
"I am confident that Protalex, under the direction of Kirk Raab, Chairman
of the Board, and Steve Kane, President and Chief Executive Officer, will go
on to achieve great success over the coming years" said Doherty. "They
continue to attract the highest quality people to the organization and are
well positioned for the future."
"John was instrumental in keeping the company focused and on track in the
early days" said Steve Kane. "His keen insight and strategic vision will be
missed, but I know that with his sincere passion for the Protalex mission,
he'll always remain available to contribute to the Company's success."
Protalex is a biotechnology company engaged in the development of a new
class of drug for the treatment of Rheumatoid Arthritis, Pemphigus and other
Cautionary Statement Regarding Forward Looking Information
This release contains forward-looking information about Protalex, Inc.
that are intended to be covered by the safe harbor forward-looking statements
provided by the Private Securities Litigation Reform Act of 1995. Forward-
looking statements are statements that are not historical facts. These
statements can be identified by the use of forward-looking terminology such as
"believe," "expect," "may," "will," "should,'' "project," "plan,'' "seek,"
"intend,'' or "anticipate'' or the negative thereof or comparable terminology,
and include discussions of strategy, and statements about industry trends and
Protalex's future performance, operations and products.
This forward-looking information should be considered only in connection
with "Risk Factors" in Protalex's Registration Statement on Form SB-2 filed
with the Securities and Exchange Commission ("SEC") on June 16, 2005 and its
other periodic reports filed with the SEC. Protalex assumes no obligation to
update any forward-looking statements or information set forth in this press
SOURCE Protalex Inc.