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Avicena(R) Group, Inc. (OTC Bulletin Board: AVGO), a late stage biotechnology company focused
on commercializing its proprietary cellular energy modulation technology, announced today the appointment of Uri Sagman, M.D, FRCPC, to the Company's Board of Directors. This appointment expands the Board to a total of 6 members.
"Dr. Sagman is an experienced entrepreneur and respected researcher
with a breadth of both business and scientific research experience. We
welcome Dr. Sagman and look forward to his contributions to the Avicena
board," stated Belinda Tsao-Nivaggioli, Avicena's chief executive officer.
"With an extensive background in guiding growth companies, Dr. Sagman will
assist Avicena in formulating and executing on value creation strategies."
Dr. Sagman has co-founded several companies including C Sixty, Inc., a
Canadian nanomedicine company focused on the development of fullerene
antioxidants for the treatment of Parkinson's disease, Alzheimer's disease
as well as certain skin conditions related to aging and UV exposure. Dr.
Sagman is also founder and chairman of GRN Capital Inc., a financial
services corporation with merchant banking and investment banking
operations based in Toronto. Separately, Dr. Sagman serves as Chairman of
GRN Health International Inc., a globally-based academic research
organization dedicated to medical research.
Dr. Sagman is also co-founder and Executive Director of the Canadian
NanoBusiness Alliance, a business association dedicated to the promotion of
Canadian nanotechnology overseas. In addition to his role with the Canadian
NanoBusiness Alliance, Dr. Sagman is also involved in the strategic
development of the National Nanotechnology Initiative Program.
Dr. Sagman studied at the McGill University, The University of Calgary,
The University of Toronto and Oxford University. Dr. Sagman has received
numerous awards and citations including the Young Investigator awards of
the American Society of Clinical Oncology (ASCO) and the American
Association for Cancer Research (AACR). Dr. Sagman is trained as a medical
oncologist and is a fellow of the Royal College of Physicians and Surgeons
of Canada. He is a fellowship recipient of the Medical Research Council of
Avicena Group, Inc. (OTC Bulletin Board: AVGO) is a late stage
biotechnology company focused on developing products based on its
proprietary understanding of the regulation of cellular energy processes.
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 (Amyotrophic Lateral Sclerosis, or Lou Gehrig's disease). Near
term, Avicena intends to initiate both a Phase III trial in Huntington's
disease and a 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 ingredients to skin
This release may contain forward-looking statements within the meaning
of the federal securities laws. Such forward-looking statements reflect,
among other things, management's current expectations, plans and
strategies, and anticipated financial results, 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" in the company's
prospectus 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 early state 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.
For more information, please click here
The Ruth Group (on behalf of Avicena(R) Group)
Sara Ephraim / John Quirk (investors)
(646) 536-7002 / 7029
Janine McCargo (media)
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