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SOURCE Neurotrope, Inc.
PLANTATION, Fla., Oct. 22, 2013 /PRNewswire/ -- Neurotrope, Inc. (OTCQB:NTRP) (the "Company") announced today that Paul E. Freiman has been appointed to the Company's Board of Directors. Mr. Freiman has extensive pharmaceutical and biotechnology industry operating experience as a board member and Chief Executive Officer of private and publicly traded companies and is a pharmacist.
Mr. Freiman is currently an independent pharmaceutical and biotechnology industry consultant. He serves as Chairman of Chronix BioMedical and is a member of the NovaBay Pharmaceutical Board of Directors. In the past, Mr. Freiman served on the Boards of Otsuka America, Inc. and several biotechnology companies based in the United States and Singapore. Prior to his current consulting and board member roles, Mr. Freiman was a partner of Burrill Brasil Investimentos based in Rio de Janiero. He also served as President and Chief Executive Officer of Neurobiological Technologies, Inc. and as a member of its Board of Directors.
Mr. Freiman also served as Chairman and Chief Executive Officer of Syntex Corporation which was sold to The Roche Group for $5.3 billion during his tenure. He is credited with much of the marketing success of Syntex's lead product, Naprosyn®, and was responsible for moving the product to over-the-counter status, marketed as Aleve®. Aleve® currently generates approximately $400 million in annual revenues worldwide.
Mr. Freiman served on the Board of the Pharmaceutical Research and Manufacturers Association of America (PhRMA) and was its Chairman. He served on a number of industry task forces both domestically and internationally. He also served as Chairman of the University of California (UCSF) Foundation, The United Way of Silicon Valley and a number of not-for-profit organizations over the years.
Mr. Freiman received a B.S. in pharmacy from Fordham University and an honorary doctorate from the Arnold & Marie Schwartz College of Pharmacy.
"I am very pleased to join Neurotrope's Board of Directors," stated Mr. Freiman. "Alzheimer's Disease is one of the great scourges of an aging global population. I believe Neurotrope has taken a unique approach in dealing with AD, both therapeutically and diagnostically. I am really excited to be associated with this worthwhile effort and look forward to sharing my extensive industry operating experience, specifically with publicly traded companies, to help management and the Board maneuver through the development, registration and launch of its products."
The Company's Chief Executive Officer, Dr. Jim New, said, "We are very pleased to have Paul join our Board. His industry expertise nicely complements our current, experienced Board of Directors. I also look forward to his operations insights and guidance."
Neurotrope was formed in October 2012 to develop and market two product platforms, including a non-invasive diagnostic test for Alzheimer's Disease and a drug candidate called bryostatin for the treatment of Alzheimer's Disease, both of which are in the clinical testing stage. Neurotrope was formed for the primary purpose of commercializing certain technologies that were initially developed by Blanchette Rockefeller Neurosciences Institute ("BRNI") and its affiliates, for therapeutic or diagnostic applications for Alzheimer's Disease or other cognitive dysfunctions. These technologies have been under development since 1999 and have been financed through significant funding from a variety of non-investor sources. The Company expects that its first product, the diagnostic test for Alzheimer's Disease, will finish the testing phase of its development in 2015, whereupon the Company will evaluate the feasibility of its commercialization. In addition to bryostatin and the diagnostic test for Alzheimer's Disease, the Company intends to pursue development of two other technology platforms developed by and licensed from BRNI: the first, a platform for transporting drugs into the brain through the "blood-brain-barrier," and the second, a group of drugs for enhancing cognition, mood and alertness for neuropsychiatric conditions.
Please visit www.neurotropebioscience.com for further information.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the development of commercially viable pharmaceuticals, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company's future financial performance and (iv) the assumptions underlying or relating to any statement described in points (i), (ii) or (iii) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain adequate financing, the significant length of time associated with drug development and related insufficient cash flows and resulting illiquidity, the Company's inability to expand the Company's business, significant government regulation of pharmaceuticals and the healthcare industry, lack of product diversification, volatility in the price of the Company's raw materials, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC, including, the Company's current reports on Form 8-K. The Company does not undertake to update these forward-looking statements.
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