SCHOFIELD, Wis., Nov. 5, 2012 /PRNewswire/ -- PuraMed BioScience®, Inc., (OTCQB: PMBS) developer of LipiGesic®M, a clinically tested, highly effective migraine relief medication, is pleased to announce the addition of Richard J. Berman as investment consultant to its management team. Mr. Berman will be assisting the company in raising capital, promoting the company's stock and bringing opportunities for potential mergers and acquisitions.
Mr. Berman brings over 35 years of venture capital, senior management and merger and acquisitions experience. In the past 5 years, he has served as a director and/or officer of over a dozen public and private companies.
From 2006 through 2011, Mr. Berman was chairman of National Investment Managers, a company with $12 billion in pension administration assets. In 2012, he became vice chairman of Energy Smart Resources, Inc. Mr. Berman is also director of three public companies: Advaxis, Inc.; Neostem, Inc.; and Lustros, Inc., a Chilean company that is the leading manufacturer of non-toxic copper sulfate used to control bacterial and fungal diseases in crops, trees, vegetables and grains.
Mr. Berman also serves as director for five privately held companies: Vertical Search Works, Inc.; Energy Smart Resources, Inc.; Strategic Funding Source, Inc.; QuantumSphere, Inc.; and Founders Finance, LLC.
"We are pleased to welcome Richard Berman to our highly qualified management team," said Russell Mitchell, chairman and CEO of PuraMed BioScience. "Richard will be invaluable as we move forward with foreign licensing, domestic wholesale and retail distribution of LipiGesic M, our flagship, migraine-relief formulation and the planning and release of other LipiGesic products within the next 12 months. His expertise in investment and venture capital is highly esteemed in the industry."
A few of Mr. Berman's other accomplishments include: serving as Senior Vice President of Bankers Trust Company, where he started the mergers and acquisitions, and leveraged buyout departments; the merger of Prestolite, General Battery and Exide to form Exide Technologies (XIDE), the largest battery company in the world in the 1980s; and development of five buildings in New York City in the area now known as Soho. In addition, Mr. Berman has acted as a advisor on over $4 billion of merger and acquisition transactions, completing over 300 deals.
Mr. Berman recently was chairman and CEO of Easylink Services International, Inc. (Nasdaq: ESIC). He helped the company raise over $30 million. Easylink Services International provides B2B solutions for businesses to connect to their trading communities with revenues for fiscal year (July) 2012 expected to be on the order of $180 million and EBITA margins approaching $50 million. The company sold in July 2012 for $310 million.
Mr. Berman is also a past Director of the Stern School of Business of NYU where he obtained his BS and MBA. He also has US and foreign law degrees from Boston College and The Hague Academy of International Law, respectively.
About PuraMed BioScience®, Inc.:
PuraMed BioScience, Inc. engages in the research, development and marketing of non-prescription medicinal and healthcare products. PuraMed has completed a double blind placebo clinical trial for its leading product, LipiGesic®M, a sublingual acute treatment for the relief from migraine headaches, which was published in the top-tier medical journal, Headache. Please see the following link to view the abstract of that study. http://onlinelibrary.wiley.com/doi/10.1111/j.1526-4610.2011.01910.x/abstract. LipiGesic®M has national distribution and is available nationwide in some of the largest chain drug stores in the United States. In addition to LipiGesic® M, the Company also has plans to launch LipiGesic® H for tension-type headaches as well as LipiGesic® PM which provides a remedy for insomnia and other sleep disorders.
This news release contains forward-looking statements regarding PuraMed BioScience, Inc., and its future business plans, which statements involve known and unknown risks and uncertainties. Such risks and uncertainties may cause actual results and future achievements of PuraMed BioScience to be materially different than those implied by these forward-looking statements. PuraMed BioScience has and undertakes no obligation to provide public updates and revisions to these forward-looking statements to reflect any changes in its expectations of future events.
PuraMed BioScience, Inc.
Russell Mitchell, Chairman and CEO
Product Website: www.lipigesic.com
Corporate Website: www.puramedbioscience.com
SOURCE PuraMed BioScience, Inc.