Message #2 From:
Stock News Bot Date: September 21, 2005 03:27:00 AM
PHSM News Phase III Medical Appoints Robin Smith, M.D., M.B.A. as Chairman of the Company's Advisory Board
MELVILLE, N.Y.--(BUSINESS WIRE)--Sept. 21, 2005--Phase III Medical, Inc. (OTCBB:PHSM), an innovative business that provides capital and guidance to companies in multiple sectors of the healthcare and life science industries, announced today the appointment of Robin Smith, M.D., MBA, as Chairman of the Company's Advisory Board. Dr. Smith will assist the Company in developing its business, increasing its exposure and recognition in related industries and assisting in the investment community.
Dr. Smith, who received a medical degree from Yale University in 1992 and a master's degree in business administration from the Wharton School in 1997, brings to the Company extensive experience in medical enterprises and business development. Dr. Smith serves as Chairman of the advisory board of China Biopharmaceuticals Holdings and the business advisory board of Enhanced Care Initiatives. During the past two years, she has acted as a senior advisor and consultant to both publicly traded and privately held companies in the healthcare and other fields where she assists in capital raising efforts, strategic development initiatives and marketing and sales. Her current activities also include evaluating companies in healthcare, media and emerging technologies on behalf of investment banking concerns and serving as acting President and CEO of Taking Care, a subsidiary of Accor Hotels, where she is building a health, wellness and beauty offering for their guests. She also sits on the Board of Directors of the New York University Hospital for Joint Disease as Chairman of Recruitment and new development and has been asked to join a think tank group for Yale University School of Medicine's Department of Neurosurgery to assist in analyzing resources and future initiatives.
Prior to these activities, Dr. Smith served as President and CEO of IP2M, selected as one of the 10 fastest growing technology companies in Houston. Previously she was Executive Vice President and Chief Medical Officer for HealthHelp, Inc., a National Radiology Management company that managed 14 percent of the healthcare dollars spent by large insurance companies.
Mark Weinreb, CEO of Phase III, stated, "We are extremely pleased to have Dr. Smith serve as Chairman of the Phase III Advisory Board. We believe that her broad network and practical business experience will help the Company in its identification of medical and scientific businesses, projects, devices and products. She brings a remarkable background in both medicine and business."
Said Dr. Smith, "I am very pleased to join the Phase III team and look forward to helping Phase III execute on its innovative approach to providing guidance and funding to companies in the medical and life sciences arena. I'm delighted to add my support to this endeavor."
About Phase III Medical. Inc.
Phase III Medical, Inc. (OTCBB:PHSM), a Delaware corporation, is an innovative, publicly traded company positioned to capitalize on growth in multiple sectors of the healthcare and life sciences industry by providing capital and guidance in return for a percentage of revenues, royalty fees, licensing fees, and other product sales of the target company. Phase III seeks to partner with and provide funds to medical companies with substantial potential or existing revenues, which are seeking $250,000 to $2 million to complete late-stage product development, fund marketing efforts, geographic expansion or pursue follow-on licensing arrangements with larger distributors.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning developments in the medical field and growth prospects for the Company. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Phase III Medical, Inc. ("the Company"), or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to (i) the Company's ability to obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) the Company's ability to 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."
Consulting For Strategic Growth I, Ltd. ("CFSG") provides Phase III Medical Inc. with consulting, business advisory, investor relations, public relations and corporate development services. Independent of CFSG's receipt of cash compensation from Phase III Medical, CFSG may choose to purchase the Company's common stock and thereafter liquidate those securities at any time it deems appropriate to do so.
