MOUNTAINSIDE, NJ--(Marketwire -02/06/12)- PROTEONOMIX, INC. (OTC.BB: PROT.OB - News), a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, announced today that it has brought in new executive management as part of a new staffing effort to round out its executive committee.
Steven Byle joins Proteonomix as Chief Technology Officer. Mr. Byle brings over twenty years experience in technology development, business, development and technology licensing to the company. He joins us from his most recent position at Dockwise, where he was VP Technology and CTO, for this company having revenue exceeding $500M. Mr. Byle has been a member of the board and significant investor in Proteonomix for more than three years.
Mr. Byle shall assist with business development, licensing, business agreements, and the intellectual property portfolio. He shall further take on increasing duties in the operation of the day to day business. This will allow the CEO, Michael Cohen to increasingly focus his efforts towards the laboratory as Proteonomix enters human trials and expands its research efforts.
Mr. Byle states, "I have been waiting for the right moment when my business experience in business development and negotiation could add real value to Proteonomix. I have assisted in supporting the company financially for more than three years, but I feel that the company has now turned the page onto a new chapter and my efforts will best serve the company directly. It will be my foremost focus to secure opportunities for Proteonomix technology that involve significant capital investment -- as recognition of the value I perceive in this company -- and that also involve near term and sustained revenues going forward."
Mr. Byle continued, "I feel that the impending human trials for UMK-121 for liver disease are just the start for the company. There is a series of technologies we are developing which cover major health issues such as heart disease and possibly even diabetes, not to mention the line of cosmeceuticals. There are no guarantees of success and there is much to do, but I believe that the company now has a great start."
Also joining the Proteonomix family is Ms. Jaci Mandil, coming on board to lead the subsidiary Proteoderm, as CEO. Ms. Mandil brings thirteen years of experience as an executive in sales and marketing for several companies, including a fortune 500 company. Ms. Mandil's first task is to bring in funding to begin the production of the Proteoderm line. Included in the initial launch plans is to start distribution through a physician network and to seek overseas distribution partners.
About Proteonomix, Inc.:
Proteonomix is a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives. The Proteonomix Family of companies includes Proteoderm, StromaCel, PRTMI and THOR Biopharma. Proteoderm, Inc. is a wholly owned subsidiary that has developed an anti-aging line of skin care products. StromaCel, Inc. develops therapeutic modalities for the treatment of Cardiovascular Disease (CVD). Proteonomix Regenerative Translational Medicine Institute, Inc. ("PRTMI") intends to focus on the translation of promising research in stem cell biology and cellular therapy to clinical applications of regenerative medicine. Proteonomix intends to create and dedicate a subsidiary to each of its technologies. Please also visit http://www.proteonomix.com/, http://www.proteoderm.com/, http://www.otcqb.com/ and http://www.sec.gov/.
Forward-looking statements:
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Proteonomix, Inc. cautions that statements made in this press release constitute forward-looking statements and makes no guarantee of future performance. Actual results or developments may differ materially from projections. Forward-looking statements are based on estimates and opinions of management at the time statements are made.
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