PHSM Phase III Medical Inc, Stock Trading Message Board News
Phase III Medical Appoints Catherine M. Vaczy as Executive Vice President and General Counsel; Seasoned Life Sciences Professional Strengthens Management Team by Bringing Valuable Legal and Business Experience
MELVILLE, N.Y.
Phase III Medical, Inc.
Mark Weinreb, 631/574-4955
Fax: 631/574-4956
mweinreb@phase3med.com
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 that it has appointed Catherine M. Vaczy, Esq. to serve as Executive Vice President and General Counsel. Ms. Vaczy will be an integral member of the management team, responsible for overseeing the Company's legal affairs as well as assisting the Company in reviewing and evaluating business, scientific and medical opportunities. She also has made an investment in the Company.
Prior to joining the Company, Ms. Vaczy, 43, was Vice President and Associate General Counsel of ImClone Systems Incorporated, a publicly traded company developing a portfolio of targeted biologic treatments to address the medical needs of patients with a variety of cancers. While at ImClone, Ms. Vaczy served as a key advisor in the day-to-day operation of the company and helped forge a number of important strategic alliances, including a $1 billion co-development agreement for Erbitux(R), the company's targeted therapy currently approved for the treatment of metastatic colorectal cancer. Prior to this, Ms. Vaczy served as a corporate attorney advising clients in the life science industries at the New York City law firm of Ross & Hardies.
Mark Weinreb, President and CEO of Phase III Medical, said, "We are very pleased to have the good fortune of attracting an executive of Catherine's caliber. Her extensive experience working with companies operating in the healthcare and life science industries will be invaluable to our operations and will enhance the depth of guidance we provide to our clients to help them achieve rapid commercialization and revenue generation."
Said Catherine Vaczy, "I am delighted to have the opportunity to join a management team as dynamic and creative as the team at Phase III and to be a part of their exciting new approach to opportunities in the healthcare industry."
About Phase III Medical
Phase III Medical (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 medical 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, fund 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 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."
