XCHC Announces Appointment of Expert Clinical Researcher and Drug Developer Dr. Dorothy Bray as President of The X-Change Corporation; Robert Kane Appointed Chief Financial Officer and Senior Vice President for Business Development, Continues on Board of Directors
DALLAS, June 27, 2013 /PRNewswire/ -- The X-Change Corporation (NASDAQ OTC: XCHC), a U.S. Company specializing in natural cannabinoid-based food and cosmetic products, is proud to announce the appointment of GlaxoSmithKline's former executive Dr. Dorothy Bray, Ph.D., as the new President of the Company. Dr. Bray's extensive experience in the field of drug development, including specific expertise in plant-based research in medicine and nutrition, will help The X-Change Corporation to deliver high quality cannabinoid products that will forcefully compete in this growing marketplace.
Former XCHC President Robert Kane stated, "This is such a great move for us! Dr. Bray brings exactly the type of leadership that this maturing company requires as we prepare our worldwide product releases. I am very honored to step into the CFO and business development roles and look forward to being able to fully focus on what is my core expertise and what I love doing, as my background is in the financial community. Dorothy is a wonderful, knowledgeable person who is a results-oriented and emphatic leader. We have so many exciting opportunities coming at us right now that the timing of Dr. Bray's appointment is ideal. Her multi-product, multi-industry executive experience is a perfect match for the Company as it moves into large-scale management of new product lines. I am very pleased to see the progress we've made, and to have the Company in a position to attract someone with Dr. Bray's proven credentials, industry stature, and successful track record."
Chad Johnson, the Company's COO and General Counsel, weighed in that "Dr. Bray has more than demonstrated her value and expertise to push the Company forward in the immediate term. I can only imagine the knowledge Dr. Bray has gained from managing over 400 clinical trials globally and going through the FDA and equivalent regulatory bodies throughout the world. Further, Dr. Bray's breadth of experience of clinical work with regulators like FDA and EMEA will help XCHC immensely. Dr. Bray's network of resources also supports the Company in a variety of areas beyond management and regulation. Her expertise and experience includes actual research and development of formulations in laboratories and other research facilities, including studies of medicinal plant-based products. Dr. Bray's leadership will undoubtedly benefit the expansion and execution of the Company's business model, as we prepare for the release of multiple product lines utilizing cannabinoids."
Mario Lap, XCHC's President of European Operations, added, "Dr. Bray joins XCHC right on time! Our expansion into Europe has begun in a major fashion; we now have an unprecedented opportunity to release our products this year in Europe and elsewhere, including the United States and Canada. Dr. Bray's network and resources including her track record at Wellcome, Glaxo Wellcome and GlaxoSmithKline will prove extremely valuable in the distribution of our cannabinoid product lines. Dr. Bray is located in Europe where she has access to laboratory and other research facilities as well as offices that will advance ever more complex and valuable research and development for The X-Change Corporation."
Dr. Bray stated, "The X-Change Corporation has an experienced, highly professional international business team, and I am delighted to be given the opportunity to lead the Company into the next phase of growth. I am excited about our capacity to formulate, develop, and market exceptional and novel products worldwide."
About Dr. Dorothy Bray, Ph.D.
Dr. Bray held various positions of responsibility at GlaxoSmithKline (GSK) as Global Director of HIV Research and Senior Clinical Program Head of HIV and Opportunistic Infections. Dr. Bray also served as Senior Medical Strategy Head, International Medical Affairs, Glaxo Wellcome Inc., and as Principal Clinical Research Scientist at Antivirals, Glaxo Wellcome, UK and USA. For a number of years she was also Head of Scientific Business Development of The Medical Research Council Clinical Trials Unit in the UK. Among other positions and fellowships, Dr. Bray received a Fellowship from the Winston Churchill Memorial Trust in the UK to study medicinal plants in Africa, a research grant from the Sir Halley Stewart Trust to study natural products, and a Fellowship from the Royal Society to study immune system response to natural products. Dr. Bray also served as a Research Fellow at the London School of Hygiene and Tropical Medicine where she studied the chemical compounds and selected molecules of medicinal plants in collaboration with the World Health Organization (WHO) Tropical Diseases Program and the University of Geneva.
Dr. Bray is IMMUNOCLIN's founder, holds an honorary Senior Lecturer position at the Royal Free School of Medicine, University of London, and acts as the European Commission's Scientific Expert. Dr. Bray has significant experience in clinical development and market positioning for novel products in both pharmaceutical and food industries. Her track record of bringing scientific discoveries to market will help to lead The X-Change Corporation into a mature, industrial leader in cannabinoid-based food, nutraceutical, and cosmetic products.
About The X-Change Corporation
The X-Change Corporation is currently developing new natural cannabinoid containing products based on innovative formulations to utilize the unique and potent benefits of the hemp plant. Medicinal properties of hemp have been known and applied for thousands of years. With the aid of scientific research The X-Change Corporation is translating such knowledge into development of effective cosmeceutical, nutraceutical, and food brands throughout the world. The Company's cosmetics and nutritional lines will address personal needs and will evolve with the introduction of new formulations and products, advancing the Company within the expanding multibillion-dollar global market.
Forward Looking Statements
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based drugs. The X-Change Corporation does not undertake any duty nor does it intend to update the results of these forward-looking statements.
The X-Change Corporation
Dr. Dorothy Bray, President
Chief Financial Officer & Senior Vice President, Business Development
561 420 4824
SOURCE The X-Change Corporation