Message #23 From:
NewsBot Date: December 18, 2006 09:41:00 AM
XKEM News Xechem International Announces Hiring of a Managing Director for Xechem Pharmaceuticals Nigeria
NEW BRUNSWICK, N.J.--(BUSINESS WIRE)--Xechem International, Inc. (OTC BB:XKEM) today announced
that it has appointed Mr. Iretiolu Oniyide Managing Director of its
Xechem Pharmaceuticals Nigeria Ltd. subsidiary. Mr. Oniyide, born in
Nigeria and currently a resident of the United States, was selected for
his high-level experience in pharmaceuticals, banking and government
after an exhaustive, international search. He will relocate to Nigeria
to head up this critical operation.
Dr. Ramesh Pandey, Chairman and CEO of Xechem International, stated, "We
are very pleased with Mr. Oniyide’s decision
to take on this key position for Xechem Nigeria as we prepare for
full-scale production of NICOSAN™, our
groundbreaking new treatment for Sickle Cell Disease, at our new Abuja
manufacturing facility. He brings a wealth of experience from a 30-year
distinguished career in banking and pharmaceuticals, including three
years as Chief Operating Officer of a pharmaceutical start-up company.
He brings the necessary tools for the hard work ahead of us, with a
unique vision, creativity and understanding of the plight of the 4
million Sickle Cell patients in Nigeria.
“Besides his strong background working with
multinational corporations, their boards and officers on a wide range of
disciplines including management, operations, finance, lending and
business consulting, Mr. Oniyide is a former gubernatorial candidate in
Nigeria who understands the intricate workings of industry and
government necessary to bring our NICOSAN™
product from the small scale stage to mass production. He will be taking
over from Col. Bhuwan Pandey, Vice President of Xechem International
Operations, who has magnificently shepherded the NICOSAN™
project and Xechem Nigeria in Abuja since the inception of this project
in 2002."
Mr. Oniyide holds a B.Sc. in Economics and International Business from
New York University and an MBA in International Business from Adelphi
University.
Mr. Oniyide said, "I am excited about the prospects of this challenging
position, bringing a complex pharmaceutical product to full scale
production. More importantly, it provides me a unique opportunity to
give back to my community and provide a much needed product to end the
suffering of many of my fellow citizens. I hope to live up to the high
standards established by Col. Bhuwan Pandey.”
Xechem Nigeria is presently engaged in small scale production of NICOSAN™,
the first new product in decades to successfully treat the symptoms of
Sickle Cell Disease. According to Dr. Pandey, "The expansion of our
facility for the manufacture and delivery of NICOSAN™
to the millions of needy sufferers in Nigeria is our first and foremost
directive”.
Professor Soji Adelaja, John A. Hannah Distinguished Professor and
Director of the Land Policy Institute at Michigan State University and
Xechem International and Xechem Nigeria Board member, said, “Ireti
is a seasoned leader who will bring much needed leadership to this new
phase of Xechem Nigeria’s evolution. The
Company is doing everything in its power to organize the resources to
put in place a full scale production facility and Ireti’s
background in the financial industry will help tremendously,”
Dr. Adelaja continued and said: “Raising the
funds from the international community for a Nigerian-based operation
designed primarily to service the Nigerian market is subject to all the
challenges of the marketplace, but we are determined to make this vision
a reality."
Nigeria’s Minister of Health, Professor
Eyitayo Lambo, said, "We are very supportive of the efforts of Xechem
Nigeria to move from a small scale to a full scale production facility,
which once completed, will provide hope for millions of Sickle Cell
sufferers. We welcome the addition of Mr. Oniyide as Managing Director.
He brings an intimate knowledge of the community and pharmaceuticals to
Xechem Nigeria."
Nigeria’s Minister of Science and Technology,
Dr. Turner Isoun, stated, "We are all proud of Xechem Nigeria,
particularly of Dr. Ramesh Pandey, who has developed the necessary
state-of-the-art facilities in the Science Village, SHESTCO, Abuja, to
bring NICOSAN™, a phytopharmaceutical product
from natural plant extracts found in Nigeria, to combat Sickle Cell
Disease, one of the most debilitating diseases on the continent and
throughout the world.”
About Xechem
Xechem International is a development stage biopharmaceutical company
working on Sickle Cell Disease (SCD), diabetes, cancer, malaria,
antibacterial, antifungal and antiviral (including AIDS) products from
natural sources, including microbial and marine organisms. Its focus is
on the development of phyto-pharmaceuticals (natural herbal drugs) and
other proprietary technologies, including those used in the treatment of
orphan diseases. Xechem’s mission is to bring
relief to the millions of people who suffer from these diseases. Its
recent focus and resources have been directed primarily toward the
development and launch of NICOSAN™ (to be
marketed as HEMOXIN™ in the US and Europe).
With Nigerian regulatory approval now in hand, Xechem is now working on
the commercialization of the drug in Nigeria and the pursuit of US FDA
and European regulatory approval. In addition to NICOSAN™,
Xechem is also working on another Sickle Cell compound, 5-HMF, which it
has licensed from Virginia Commonwealth University.
Forward Looking Statements
This press release contains certain forward looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities and Exchange Act of 1934, as amended,
which are intended to be covered by safe harbors created hereby.Such
forward-looking statements involve known and unknown risks and
uncertainties.
