Xechem International's Nigerian Subsidiary Welcomes New Managing Director
NEW BRUNSWICK, N.J.--(BUSINESS WIRE)--
Xechem International, Inc. (OTC BB: XKEM) announced today that Mr. Iretiolu Oniyide has assumed his newly appointed role as Managing Director and board member of Xechem Pharmaceuticals Nigeria Ltd., located at the Sheda Science and Technology Park, Science Village, Abuja, Nigeria.
On joining the Xechem Nigeria team, Mr. Oniyide stated, "I am very excited about the opportunity to build on the extraordinary achievements already made by Xechem Nigeria under Dr. Ramesh Pandey's leadership over the last four years. I look forward to working with Dr. Pandey and the entire Xechem Nigeria team to achieve full-scale production of NICOSAN(TM), the company's breakthrough drug for Sickle Cell Disease (SCD), as quickly as possible so that we can ensure that the patients suffering with the debilitating effects of this terrible disease can get the help and relief they so badly need." He further emphasized Xechem Nigeria's intention to strengthen existing relationships with private and governmental partners that have been so supportive of the company's efforts.
Bhuwan Pandey, Vice President Operations for Xechem International, who had served as acting General Manager of Xechem Nigeria in Abuja since its inception in 2002 and who shepherded the NICOSAN(TM) project to the current stage of development, said "I am truly honored to have played a part in bringing this revolutionary non-toxic Sickle Cell Disease drug to the market. I welcome Mr. Oniyide with open arms and officially turn over to him the day-to-day management of Xechem Nigeria on this auspicious day. I have no doubt that under his leadership and guidance, the company will continue to grow and prosper."
Dr. Ramesh Pandey, Chairman of Xechem International and Xechem Pharmaceutical Nigeria also welcomed Mr. Oniyide's ascension as Managing Director for Xechem Nigeria. According to Dr. Pandey, "I am sure that as our new Managing Director, Mr. Oniyide will help take Xechem Nigeria to greater heights and make all of Nigeria proud. I look forward to working closely with him on the historic work we are doing in Nigeria."
Reflecting on the achievements already made by Xechem Nigeria to date, Dr. Pandey stated, "We owe a large measure of gratitude to a great many people to have arrived at this stage. I would like to thank Bhuwan Pandey and his team for their contribution, dedication and tireless efforts in overcoming the many challenges and obstacles they have faced in bringing the NICOSAN(TM) drug to the Nigerian market."
"I am also very grateful to, and would like to acknowledge, some of the people and organizations that have been instrumental in Xechem Nigeria's development, starting with the President of the Federal Republic of Nigeria, Chief Olusegun Obasanjo, GCFR, who officially launched NICOSAN(TM) on July 6, 2006 from the facility at the company's SHESTCO complex." Dr. Pandey continued, "Working together with the Honorable Minister of Science and Technology, Professor Turner Isoun and the Honorable Minister of Health, Professor Eyitayo Lambo, the dream of bringing NICOSAN(TM) to the SCD afflicted population has become a reality. Also deserving of our gratitude is Dr. Ayo Coker, Director General of SHESTCO. Without his full support and guidance, we would not be in production today. I also extend my thanks to Dr. Uford Inyang, Director General at the National Institute for Pharmaceutical Research and Development (NIPRD), which first brought NICOSAN(TM) to the attention of Xechem following years of development and testing at NIPRD."
Dr. Pandey went on to say "our thanks must also go out to Professor Soji Adelaja and Stephen Burg, board members of both Xechem International and Xechem Nigeria, for their role in the company's success to date. There are many others, including Xechem Nigeria board members Lady Ekaette and Isaac Inyang, who have given selflessly of their time to help us achieve this success. Finally, the dedicated people who work at the facility must also be recognized for their individual efforts in helping to bring this drug to the people of Nigeria and the World."
About NICOSAN(TM)
NICOSAN(TM) is an anti-sickling drug originally developed as NIPRISAN by the Nigerian scientists at the National Institute for Pharmaceutical Research and Development (NIPRD). In clinical studies conducted under NIPRD's auspices, the drug has shown to substantially reduce the degree of sickling of the red blood cells of those afflicted with the disease. While not a cure, the clinical trials have confirmed that the large majority of patients taking NICOSAN(TM) no longer experience sickle cell "crises" while on the medication, and even among those whose crises are not eliminated, the number and severity of the crises are substantially reduced. Through quality control/quality assurance (QC/QA) Xechem has standardized and verified the antisickling activity of the product, which is now called as NICOSAN(TM).
About Xechem
Xechem International is a development stage biopharmaceutical company working on Sickle Cell Disease (SCD), antidiabetic, antimalarial, antibacterial, antifungal, anticancer 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(TM) (to be marketed as HEMOXIN(TM) in the US and Europe). With the 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(TM), Xechem is also working on another sickle cell compound, 5-HMF, which it has licensed from Virginia Commonwealth University (VCU).
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.
Source: Xechem International, Inc.
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