MANCHESTER, NH--(Marketwired - July 09, 2014) -
Boston Therapeutics, Inc. (OTCQB: BTHE
), a developer of complex carbohydrate therapeutics to treat diabetes and inflammatory diseases, has appointed Benjamin Rivnay, Ph.D. to serve as its Chief Scientist, a newly created position. In this role, Dr. Rivnay will be responsible for the development of the Company's science and technology. He will serve as the primary liaison to the Company's Medical Advisory Board and report to Rom E. Eliaz, Ph.D., chairman of the Board of Directors' Scientific Advisory Committee.
Dr. Rivnay is a seasoned director of technology and research activities within the biotechnology industry. Most recently, he was Director of Research and Development at Formatech Inc., where he managed more than 50 projects on formulation development for a diverse group of drugs, as well as studies for stability and material compatibility, initial engineering and process development activities, and preparation of non-cGMP product lots for toxicology studies and other research purposes. Prior to this, he was Vice President of Research and Development and Lab Director at Repromedix Corporation, where he introduced more than 50 new test products for both male and female infertility. Earlier, he served as Senior Investigator and Program Leader at Procept Inc., where he initiated and led a new R&D program focusing on the development of anti-allergic drugs, and as Senior Scientist at Neurex Corporation. He holds a Ph.D. in biochemistry from The Weizmann Institute of Science and a B.Sc. in biology from Tel Aviv University.
Dr. Rivnay said, "Through my decades of work in the biotech industry, I have come to appreciate the importance of innovation and the need for new approaches in various therapeutic areas. It is my belief that there is a continuing need to close the gap between academic discoveries and the market, by intensive corporate translational R&D activity. The work Boston Therapeutics has done in the area of diabetes is well positioned with this philosophy. The molecular mechanism of action of BTI-320 is related to a-amylase, a key enzyme responsible for the breakdown of starch in the human body. I look forward to overseeing these efforts and working with the other members of the management team and the medical advisory board as we continue to develop our products and work to secure patents."
David Platt, Chief Executive Officer of Boston Therapeutics, said, "We are truly fortunate that Benjamin Rivnay, with his impressive breadth of experience, has chosen to join the Company as Chief Scientist. His professional background ideally places him to oversee our anticipated growth in research, science and technological innovations through the coming years. We anticipate that his insights will drive us to further success as an innovator in the diabetes market."
About Boston Therapeutics, Inc.
Boston Therapeutics, headquartered in Manchester, NH, (OTCQB: BTHE) is an innovator in designing compounds using complex carbohydrate chemistry. The company's product pipeline is focused on developing and commercializing therapeutic molecules that address diabetes and inflammatory diseases, including: BTI-320, a new generation of Alpha Glucosidase Inhibitor, is a non-systemic chewable therapeutic compound designed to reduce post-meal glucose elevation. The Company is currently enrolling patients in a Phase llb clinical study with BTI-320 in patients with type 2 diabetes. IPOXYN is an injectable anti-necrosis drug designed initially to treat lower limb ischemia associated with diabetes and is pre-clinical. The company produces and sells SUGARDOWN®, a non-systemic complex carbohydrate-based dietary food supplement designed to support healthy blood glucose. More information is available at www.bostonti.com.
Cautionary Note Regarding Forward Looking Statements
This press release contains, in addition to historical information, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or future financial performance, and use words such as "may," "estimate," "could," "expect" and others. They are based on our current expectations and are subject to factors and uncertainties which could cause actual results to differ materially from those described in the statements. Factors that could cause our actual performance to differ materially from those discussed in the forward-looking statements include, among others, that our plans, expectations and goals regarding the clinical trials are subject to factors beyond our control and provide no assurance of FDA approval of any of our future drug development plans. Our clinical trials may not produce positive results in a timely fashion, if at all, and any necessary changes during the course of the trial could prove time consuming and costly. We may have difficulty in enrolling candidates for testing, which would affect our estimates regarding timing, and we may not be able to achieve the desired results. Any significant delays or unanticipated costs in any subsequent drug trial could delay obtaining meaningful results from Phase II studies and/or preparing for Phase III studies with the current cash on hand.
Upon receipt of FDA approval, we may face competition with other drugs and treatments that are currently approved or those that are currently in development, which could have an adverse effect on our ability to achieve revenues from our approved products. Plans regarding development, approval and marketing of any of our compounds, including BTI-320, are subject to change at any time based on the changing needs of our company as determined by management and regulatory agencies. We have incurred operating losses since our inception, and our ability to successfully develop and market drugs may be affected by our ability to manage costs and finance our continuing operations. For a discussion of additional risk and other factors affecting our business, see our Annual Report on Form 10-K for the year ended December 31, 2013, and our subsequent filings with the SEC. You should not place undue reliance on forward-looking statements, and actual results may differ materially from the results anticipated in our forward-looking statements. Although subsequent events may cause our views to change, we disclaim any obligation to update forward-looking statements.
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