PALO ALTO, Calif., Sept. 28 /PRNewswire-FirstCall/ -- Avicena Group, Inc. , a late-stage biotechnology company that develops central nervous system therapeutics for neurodegenerative diseases, announced today the appointment of Dr. M. Flint Beal, M.D. to the Company's Board of Directors, effective October 30, 2007. Dr. Beal is a co-founder of Avicena and has served as a member of the Company's Scientific Advisory Board since 2000. This appointment expands the Board of Directors to 6 members.
"Dr. Beal, an internationally recognized authority on neurodegenerative disorders, is a welcome addition to our Board of Directors. As a co-founder of Avicena and a current member of our Scientific Advisory Board, he is particularly well suited to help guide us through our drug development programs," stated Belinda Tsao-Nivaggioli, Avicena's chief executive officer. "Avicena is entering into an important stage with Phase III studies in Parkinson's Disease, Huntington's Disease and ALS and we are looking forward to Dr. Beal's contributions."
Dr. Beal is the Anne Parrish Titzell professor and chairman of the department of neurology and neuroscience at the Weill Medical College at Cornell University, and director of neurology at New York Presbyterian Hospital. Prior to Cornell, Dr. Beal was the professor of neurology at the Harvard Medical School and chief of the neurochemistry laboratory at Massachusetts General Hospital.
Dr. Beal is also involved with several foundations and associations focused on neurological disorders, including the Alpha Omega Alpha Medical Honorary Society, where he received the Derek Denny-Brown Neurological Scholar Award of the American Neurologic Association. He is also a member of the Institute of Medicine of the National Academy of Science, and was previously on the Council of the American Neurologic Association. In addition, Dr. Beal served on the science advisory committees of the Hereditary Disease Foundation, Huntington's Disease Society of America, Parkinson's Disease Study Group, Parkinson's Disease Foundation, Bachman-Strauss Foundation, The ALS Association, and the American Health Assistance Foundation.
Author or co-author of more than 300 scientific articles and more than 125 books, book chapters and reviews, Dr. Beal also serves on the editorial boards of a number of journals including the Journal of Neurochemistry, the Annals of Neurology, Journal of Molecular Neuroscience, Experimental Neurology and Neurobiology of Disease.
Dr. Beal received an M.D. from the University of Virginia Medical School and subsequently conducted residencies in internal medicine at the New York Hospital-Cornell Medical Center and in neurology at The Massachusetts General Hospital, respectively. He joined the neurology faculty at Harvard in 1983. Dr. Beal was professor of neurology at the Harvard Medical School and chief of the neurochemistry laboratory at Massachusetts General Hospital before moving to Cornell.
Avicena Group, Inc. is a Palo Alto, California based late stage biotechnology company that develops central nervous system therapeutics for neurodegenerative diseases. 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). The company is currently analyzing data from its Phase IIb/III trial in ALS. Near term, Avicena intends to initiate a Phase III trial in Huntington's disease to accompany the ongoing Phase III trial 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.
This release contains forward-looking statements that reflect, among other things, management's current expectations, plans and strategies, all of which are subject to known and unknown risks, uncertainties and factors that may cause our actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks are beyond our ability to control or predict. See "Risk Factors" under "Item 6. Management's Discussion and Analysis of Financial Condition and Results of Operation" from our Annual Report on Form 10-KSB for the year ended December 31, 2006, and other descriptions in the company's public filings with the Securities and Exchange Commission for a discussion of such risks, including the company's need for additional funds, the company's dependence on a limited number of therapeutic compounds, the stage of the products the company is developing, uncertainties relating to clinical trials and regulatory reviews, competition and dependence on collaborative partners, the company's ability to avoid infringement of the patent rights of others, and the company's ability to obtain adequate patent protection and to enforce these rights. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. Avicena does not undertake any obligation to update or review any such forward-looking information, whether as a result of new information, future events or otherwise.
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