ALBUQUERQUE, N.M., July 15 /PRNewswire-FirstCall/ -- Protalex, Inc.
(OTC Bulletin Board: PRTX) announced today that Mr. G. Kirk Raab has agreed to
join its Board of Directors as Chairman. Mr. Raab has a distinguished history
in pharmaceutical and biotechnology companies, having served both as
President, Chief Operating Officer as well as a director of Genentech, Inc.
from 1985-1990, then as President, Chief Executive Officer and a director
until July, 1995. Prior to joining Genentech, he was President, COO and a
director of Abbott Laboratories. He previously had held executive positions
with the Beecham Group, A.H. Robins and Pfizer, Inc. Currently, he is
Chairman of Connetics Corp. and Applied Imaging, Inc. Mr. Raab is a trustee
emeritus of Colgate University, an honorary Fellow of Exeter College and a
member of the Chancellor's Court of Oxford University. Mr. Raab stated, "I am
joining Protalex as I believe the Company's technology has the potential to
revolutionize the treatment of rheumatoid arthritis and other autoimmune
Mr. Steven H. Kane, Protalex President and CEO, said, "We are
enthusiastically looking forward to having Mr. Raab join us at this critical
juncture in the Company's development. His experience and vision will be of
inestimable value as we enter the human trial phase of our flagship drug which
represents the first in a new class of treatment for rheumatoid arthritis."
Protalex, Inc. is a biotechnology company engaged in the development of a
new class of drugs for treatment of rheumatoid arthritis and other immune
Statements in this press release that are not strictly historical are
"forward looking" statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
These statements involve a high degree of risk and uncertainty, are
predictions only and actual events or results may differ materially from those
projected in such forward-looking statements. Factors that could cause or
contribute to differences include the Company's limited operating history,
uncertainty regarding viability and market acceptance of the Company's
products, and the Company's dependence on reimbursement by third parties.
These factors and others are more fully described in the section entitled
"Risks Related to the Company's Business" in the Company's Registration
Statement on Form 10-SB (File No. 00028385) as filed with the Securities and
SOURCE Protalex, Inc.