Fero Industries, Inc. Appoints Lopez as Chief Operating Officer
Published: Apr 12, 2011
CALGARY, AB--(Marketwire - April 12, 2011) - Fero Industries, Inc. (OTCBB: FROI) (OTCQB: FROI) (the "Company") is pleased to announce that it has appointed Mr. Luis Manuel Ornelas Lopez to the newly created position of Chief Operating Officer (COO).
Mr. Lopez is currently the Managing Director of Pharmaroth Latin America S.A. de C.V. (the 98% owned Fero Industries, Inc. operating subsidiary in Mexico) and joined the Board of Directors of Fero Industries in September of 2010.
"I am extremely pleased that Luis has agreed to expand his role with the Company. No one knows Sucanon® and its huge potential better, and I can't think of a more fitting candidate for the job," said Mr. Kyle Schlosser, President and CEO of Fero Industries. "His considerable contributions to the long-term development of Sucanon® and his successful role in its recent launch in Mexico make him uniquely qualified to manage our current operations, and to execute our global growth strategy going forward."
As Chief Operating Officer, Mr. Lopez will assume responsibility for overseeing all aspects of the Company's current Sucanon® production, marketing, and distribution as well as implementation of the Company's ongoing global growth strategy.
"I believe in the potential of Sucanon®, not only because I've been involved with the development the product since its early days, but also because I'm convinced that the global opportunities for Sucanon are tremendous," said Mr. Lopez. "Sucanon® has been proven to be safe and effective as a treatment for type-2 diabetes and pre-diabetes in multiple clinic studies, and is set to improve the lives of millions of people as we build awareness and expand distribution worldwide."
Prior to his involvement with Sucanon®, Mr. Lopez worked for four years as the Commercial Manager of an established Mexico City based pharmaceutical and medical manufacturing company. Mr. Lopez is a recognized teacher and lecturer at the University and Post Doctorate level, currently teaching at Anahuac Sur University and the University of London in Mexico. He received his Masters in Business Administration (2008) and a Law Degree (1999) from the Business University ISEC in Mexico City.
Sucanon® is one of only three approved drugs in the multi-billion dollar market for a class of diabetic medications called "insulin sensitizers." Pre-clinical and clinical studies show that Sucanon® and other insulin sensitizers lower a patient's blood sugar by increasing the muscle, fat and liver's sensitivity to the body's own naturally produced insulin. Sucanon® has been approved for prescription sale in China and Peru. Sucanon® is also approved as an OTC treatment for type-2 diabetes by regulatory authorities in Mexico, and is distributed there under an exclusive agreement with Merck S.A. de C.V.
About Fero Industries, Inc.
Fero Industries, Inc. (OTCBB: FROI) (OTCQB: FROI) is focused on diabetes prevention and treatments. The Company holds the intellectual property and all exclusive world-wide rights related to the production, marketing, and distribution of Sucanon®, a treatment for type-2 diabetes. Sucanon® is a member of a class of diabetic medications called insulin sensitizers. Insulin sensitizers lower blood sugar by increasing the muscle, fat and liver's sensitivity to insulin. Insulin sensitizers are blood sugar normalizing or euglycemic drugs that help return the blood sugar to the normal range without the risk of low blood sugars. Fero's strategy is to increase awareness, acceptance, and distribution of Sucanon® globally.
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Fero Industries, Inc. (the Company) to be materially different from those expressed or implied by such forward-looking statements.
The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings."
Fero Industries, Inc.