URBANDALE, Iowa, Jan. 10, 2017 /PRNewswire/ -- Spotlight Innovation Inc. (OTCQB: STLT), a pharmaceutical company advancing technologies designed to address rare, emerging and neglected diseases, today announced the appointment of Company director John Krohn as President and Chief Operating Officer.
"I am honored and excited to assume these additional leadership roles during this crucial period of the Company's growth," said Mr. Krohn. "We are committed to advancing our product development programs, identifying additional opportunities, and creating meaningful value for shareholders."
Mr. Krohn joined Spotlight Innovation's Board of Directors in February of 2016. He brings to the Company over three decades of operating and leadership experience across diverse industry sectors. His expertise includes corporate financial management, strategic financial advisory, private and public equity and debt financing, and M&A strategy and execution.
In connection with Mr. Krohn's appointment, Cristopher Grunewald has stepped down as President and as a director of the Company. Mr. Grunewald will continue to serve as Chief Executive Officer.
"My passion is working with our scientific team to address important unmet medical needs, and this will be the focus of my efforts," said Mr. Grunewald. "I believe the Company is best served by turning administrative and operational functions over to Mr. Krohn, a consummate professional who is not only qualified to take us to the next level, but who is also a founding and significant equity shareholder."
About Spotlight Innovation Inc.
Spotlight Innovation Inc. (OTCQB: STLT) identifies and acquires rights to innovative, proprietary technologies designed to address unmet medical needs, with an emphasis on rare, emerging and neglected diseases. To find and evaluate unique opportunities, we leverage our extensive relationships with leading scientists, academic institutions and other sources. We provide value-added development capability to accelerate development progress. When scientifically significant benchmarks have been achieved, we will endeavor to partner with proven market leaders via sale, out-license or strategic alliance. For more information, visit www.spotlightinnovation.com or follow us on www.twitter.com/spotlightinno.
Statements in this press release that are not purely historical are forward-looking statements. Forward-looking statements herein include statements regarding Spotlight Innovation's efforts to develop and commercialize its various technologies, and to achieve its stated benchmarks. Actual outcomes and actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include: risks and uncertainties, such as the inability to finance the planned development of the technologies; the inability to hire appropriate staff to develop the technologies; unforeseen technical difficulties in developing the technologies; the inability to obtain regulatory approval for human use; competitors' therapies proving to be more effective, cheaper or otherwise more preferable; or, the inability to market a product. All of which could, among other things, delay or prevent product release, as well as other factors expressed from time to time in Spotlight Innovation's periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with Spotlight Innovation's periodic filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release and Spotlight Innovation undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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SOURCE Spotlight Innovation Inc.