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Eugene Science Inc. (OTCBB: EUSI), a leader in the nutraceutical marketplace with its cholesterol lowering CholZero (CZ™) plant sterols, today announced it has appointed Andrew Altman to the newly created position of Vice President - Business Development.
Mr. Altman brings a 20-year successful track record as a senior sales and sales management executive in the life sciences industry including positions at Varian, Fisions Instruments and Beckman Instruments. Most recently, he served as principal and senior business consultant at Single Track Investments, where he specialized in strategic business development for emerging-growth stage life sciences and pharmaceutical companies seeking to identify and open new markets and establish marketing alliances.
At Eugene Science, Mr. Altman will be responsible for establishing strategic alliances and opening national sales accounts for the Company's patented cholesterol lowering CholZero (CZ™) plant sterol product. He will be targeting companies in the food, supplement and nutraceutical industries. Mr. Altman will also develop existing strategic relationships such as Archer Daniels Midland. Additionally, he will direct the global sales, licensing or partnership strategy for the Company's emerging technologies, including its patented AD/ADD biotechnology process presently being readied for development toward commercialization in 2008.
Commenting on his appointment, Mr. Altman said, "This is an exciting and pivotal time at Eugene Science as the plant sterol marketplace is beginning to reach a critical mass of consumer awareness and demand. Sterols are promoted for their cholesterol lowering benefit, helped indirectly by the multi-billion dollar success of the cholesterol lowering class of pharmaceutical drugs. With the industry's premier, nano-sized water-dispersible sterol product, I believe Eugene Science is ideally positioned to leverage its product advantage in the large and growing global sterol marketplace."
"Andy is the ideal sales professional and strategic level dealmaker, having built and led a number of emergent medical technologies from early stage to market leadership," said Seung Kwon Noh, Eugene Science Chairman and Chief Executive Officer. "We are delighted to have him on board and expect he will advance U.S. sales substantially."
Prior to Single Track Investments in 2005, Mr. Altman worked for Palo Alto-based Varian for ten years where he served as North American Sales Manager and Global Market Manager for that firm's imaging equipment. Previously, he was with Fisions Instruments (formerly VG Instruments) for eight years where he served as Western U.S. Sales and Service Manager. He began his life sciences career with Beckman Instruments, and earned his B.S. in chemistry at U.C. San Diego.
About Eugene Science Inc.
Based in Bucheon, Kyunggi-Do, Korea, Eugene Science is a global biotechnology company tackling ailments such as heart disease, obesity and diabetes through innovation in the nutraceutical field. Its first commercial heart disease product, CZ™, is a patented, nanoscience-based, water-dispersible functional food ingredient containing natural plant sterols that help maintain healthy cholesterol levels by inhibiting its absorption. CZ™ is available in capsule form, or as a food or beverage additive. These plant sterols are approved by the U.S. FDA for health claims related to cholesterol lowering efficacy. Please visit http://www.eugene21.com .
Forward-Looking Statements: This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition, from time to time, Eugene Science, or its representatives, have made or may make forward-looking statements, orally or in writing. The words "estimate," "project," "potential," "intended," "expect," "anticipate," "believe" and similar expressions or words are intended to identify forward-looking statements. Such forward-looking statements may be included in, but are not limited to, various filings made by Eugene Science with the United States Securities and Exchange Commission (available at www.sec.gov), press releases or oral statements made with the approval of an authorized executive officer of Eugene Science. Actual results could differ materially from those projected or suggested in any forward-looking statements as a result of a wide variety of factors and conditions. Reference is hereby made to Eugene Science's Annual Report on Form 10-KSB for the fiscal year ended December 31, 2006 for information regarding those factors and conditions. Among the important factors that could cause actual results to differ materially from management's projections, estimates and expectations include, but are not limited to: changing economic influences in the nutraceutical industry; dependence on key personnel; actions of third parties; the market for nutraceutical products containing Eugene Science's CZ™ ingredient, and availability of adequate financing. Readers are cautioned not to place undue reliance upon these forward-looking statements that speak only as of the date of this press release. Eugene Science undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.
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