Healthcare Industry News: BD
News Release - January 3, 2006
Symbollon Rehires Executive OfficersFRAMINGHAM, MA--(Healthcare Sales & Marketing Network)--Jan 3, 2006 -- Symbollon Pharmaceuticals, Inc. (OTC BB:SYMBA.OB ) today announced that it has rehired Paul C. Desjourdy to serve as its Chief Executive Officer, Chief Financial Officer and President and Jack H. Kessler to serve as its Chief Scientific Officer. As previously announced on December 30, 2005, both executives resigned from their employment with the Company to invoke certain contractual rights regarding outstanding loans payable to the Company on December 31, 2005. Effective immediately both executives have been rehired to resume their same duties and functions with the Company.
Symbollon Pharmaceuticals, Inc. (OTC BB:SYMBA.OB ) is a specialty pharmaceutical company focused on the development and commercialization of proprietary drugs based on its molecular iodine technology. Symbollon is conducting a Phase III clinical trial evaluating IoGen as a potential treatment for moderate to severe periodic pain and tenderness (clinical mastalgia) associated with fibrocystic breast disease (FBD). FBD is a condition that affects approximately 20 to 33 million women in the U.S., and there are approximately 7 to 13 million women suffering from clinical periodic mastalgia. The Company believes IoGen also may be useful in treating and/or preventing endometriosis, ovarian cysts, and premenopausal breast cancer. For more information about Symbollon, visit the company's website at http://www.symbollon.com.
This news release contains statements by the Company that involve risks and uncertainties and may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from those currently anticipated as a result of a number of factors, including, but not limited to, the risks and uncertainties associated with whether (i) future clinical trial results will support the use of IoGen for the treatment of fibrocystic breast disease, (ii) the clinical data acquired from Mimetix Inc. will be acceptable exposure data for IoGen, (iii) Symbollon will be able to obtain the resources necessary to continue as a going concern, (iv) IoGen will successfully complete the regulatory approval process, (v) competitive products will receive regulatory approval, (vi) the Company's ability to enter into new arrangements with corporate partners and (vii) such other factors as may be disclosed from time-to-time in the Company's reports as filed with the Securities and Exchange Commission.
Source: Symbollon Pharmaceuticals
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