SALT LAKE CITY, Oct. 11 /PRNewswire-FirstCall/ -- Medical Discoveries, Inc. today announced two additions to its Board of Directors. Verdis Norton and Jody Olson have been appointed as Directors for the bio-pharmaceutical company.
Mr. Norton has over 25 years of management experience including senior positions at Kraft General Foods and Kraft Food Corporation in sales, marketing, general management and strategic planning. Most recently, Mr. Norton was President of aLF Ventures LLC, an emerging biotechnology company that introduced Activated Lactoferrin (Activin(TM)), a food safety technology that protects consumers from harmful bacteria.
Mr. Olson was Vice President of Corporate Development at Trus Joist, a $1 billion Boise, Idaho-based specialty building products company. He has served for many years as Chairman of the Board of the State of Idaho Public Employee Retirement System, a $10 billion pension fund. Mr. Olson is a member of the Board of Advisors of venture capital fund Galen Associates New York City, and is a Board member of the Council of Institutional Investors (CII) Washington, DC.
“Mr. Norton’s extensive experience in corporate leadership and in particular, strategic planning, will be a valuable asset to MDI,” stated Judy Robinett. “Mr. Olson’s significant experience with mergers and acquisition and his years of involvement in the financial community will provide guidance as MDI continues to source capital and pursue potential acquisition candidates.”
Robinett continued: “I am delighted to have the resources and strengths that Verdis and Jody bring to MDI’s Board as we continue to advance our in-house pipeline and bolstered business development program.”
About Medical Discoveries, Inc.
Medical Discoveries, Inc. is a developmental-stage bio-pharmaceutical company focused on therapies for major diseases. The Company is leveraging MDI-P, its novel technology that inhibits pathogen production, to generate treatments for Cystic Fibrosis and HIV. Additionally, MDI is working with its co-development partner toward clinical trials and pursuing licensing opportunities for its recently acquired Formestane, a topical treatment to reduce breast cancer tumors.
This news release contains forward-looking statements that involve significant risks and uncertainties, including those discussed below and others that can be found in MDI’s Form 10-KSB for the year ended December 31, 2005, and in MDI’s periodic reports filed with the Securities and Exchange Commission. MDI is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.
Medical Discoveries, Inc.
CONTACT: Medical Discoveries, Inc., +1-801-582-9583
