PALO ALTO, Calif., Oct. 10 /PRNewswire-FirstCall/ -- Avicena Group, Inc. , a late-stage biotechnology company that develops central nervous system therapeutics for neurodegenerative disorders, announced today the appointment of its C.E.O., Belinda Tsao-Nivaggioli, Ph.D., to the additional role of Chairman of the Company's Board of the Directors. Dr. Tsao- Nivaggioli succeeds Nasser Menhall, who recently resigned from the Board to focus his time on other business ventures.
"I want to take this opportunity to thank Nasser for his many contributions and his invaluable leadership over many years and I wish him best of luck in his new ventures," stated Dr. Tsao-Nivaggioli. "I appreciate the Board of Directors' vote of confidence and I continue to be proud to be associated with this organization and its people. I look forward to leading this Company and to further leveraging our cellular energy technology to develop and commercialize pharmaceutical and dermaceutical products."
Prior to her current roles of CEO and Chairman, Dr. Tsao-Nivaggioli was Avicena's chief operating officer from 2002 to 2004. During her tenure with the Company, Dr. Tsao-Nivaggioli has expanded its intellectual property portfolio and built a substantial pipeline of pharmaceutical products, including drug candidates for the treatment of neurological disorders such as ALS, Huntington's and Parkinson's Disease. Dr. Tsao-Nivaggioli is also credited with solidifying the Company's relationship with the National Institutes of Health (NIH) as well as developing the Company's dermaceutical programs.
Avicena Group, Inc. is a Palo Alto, California based late-stage biotechnology company that develops central nervous system therapeutics for neurodegenerative disorders. The Company's core technologies, supported by a robust IP portfolio, have broad applications in both pharmaceuticals and dermaceuticals. Avicena's pharmaceutical program centers on rare neurological disorders (orphan diseases). Near term, the Company plans to initiate a confirmatory Phase III trial in ALS and a Phase III trial in Huntington's disease to accompany the ongoing NIH Phase III trail in Parkinson's disease. Avicena's science is well established and its products are safe and well tolerated. Unlike traditional biotechnology companies, Avicena's clinical programs are largely funded by government and non-profit organizations. Avicena presently derives revenue from the sale of proprietary dermaceutical ingredients to skin care manufacturers.
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