NEW HOPE, Pa., Feb. 10 /PRNewswire-FirstCall/ -- Protalex, Inc. (PRTX)
announced today the relocation of the company's corporate headquarters from
Albuquerque, NM to a new facility in New Hope, Pennsylvania. The facility
became fully operational in early February.
"Protalex's move to its new facility comes at a critical juncture in the
company's drug development cycle," explained Protalex's CEO, Steven Kane. "As
we make the transition from our pre-clinical studies to our first clinical
trials in patients with rheumatoid arthritis, Protalex's close proximity to
the Philadelphia biotech and medical communities will be enormously
beneficial. Our new location will provide increased access to personnel
experienced in applied research and biologics development as well as to key
thought leaders and institutions with expertise in the development of drugs to
treat autoimmune diseases."
Additionally, Protalex announced that Barry Sherman, M.D., former Chief
Medical Officer at Genentech, and currently Chief Scientific Officer at Acumen
Sciences in San Francisco, has joined the Protalex team as Chairman of the
Scientific Advisory Board. Dr. Sherman, brings to Protalex more than twenty
years of experience in all phases (I-IV) of clinical development of
recombinant proteins for the treatment of a broad array of disorders,
including autoimmune diseases. Dr. Sherman stated "I am pleased to be working
with Steve Kane and the excellent team he has assembled to bring Protalex's
novel treatment of RA and related autoimmune diseases to patients in need."
"Dr. Sherman will provide strong leadership to the company in all critical
areas of drug development including method of action studies, clinical trial
design, corporate partnering activities, and evaluation of technology
in-licensing opportunities," commented Steve Kane. "We look forward to his
contributions and the standard of excellence he brings to our organization."
Protalex, Inc. is a biotechnology company engaged in the development of a
new class of immuno-modulatory drugs for treatment of rheumatoid arthritis and
other autoimmune diseases.
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.