PRINCETON, N.J., April 26, 2011 /PRNewswire/ -- Protect Pharmaceutical Corporation (OTCBB:PRTT.ob - News) today announced its Board of Directors has appointed current Chief Operating Officer Ramesha Sesha as its Chief Executive Officer and Chairman of the Board, effective immediately. Mr. Sesha joined Protect as the Chief Operating Officer and Board Member in March 2011, following the Patent Acquisition Agreement with Nectid Inc where he was the Founder and CEO.
Mr. Sesha has over 15 years experience in both the brand and generic pharmaceutical industry. He is an Organic chemist and was the Senior Vice President for Intellectual Property and US FDA Submissions, with Wockhardt Limited in Bedminster, New Jersey. His role included managing the IP portfolio, R & D strategy and was a part of the M & A team. He founded Nectid Inc, a privately held R & D firm and has licensed or sold 19 patents to different pharmaceutical companies in the last 24 months.
Mr. Sesha's promotion reflects Protect's strategy to ensure its scientific and corporate visions are aligned together.
The Board of Directors also approved the appointment of Keith Elison to become and serve as the Company's Chief Financial Officer, to be effective immediately. Mr. Elison has more than eleven years of experience in public company accounting and SEC compliance and reporting issues. His professional experience includes providing accounting and financial reporting assistance for small and medium-sized publicly held companies.
About Protect Pharmaceuticals Corporation.
Based in Princeton, New Jersey, Protect (PRTT) is a publicly held drug discovery and new product development company. Protect applies its proprietary drug delivery and discovery technologies to discover and develop clinically effective drugs. Protect is building a robust pipeline of product candidates based on its proprietary technologies, scientific knowledge and clinical expertise. For more information, visit www.protectpharm.com.
Safe Harbor Statement
This news release may contain certain forward-looking statements and information concerning Protect's business, operations, financial condition and prospects. These statements are subject to various risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors. The information set forth herein should be read in light of such risks and uncertainties. The Company assumes no duty or obligation to update these statements at any future date.