WACO, Texas, Nov. 14, 2003 (PRIMEZONE) -- Health Discovery Corporation, Inc. (OTCBB:HDVY), today announced the appointment of Joe Fanelli to the Company's Management Team. Mr. Fanelli will assume the position of Director of Corporate Development for the Company. In this role, Mr. Fanelli will work on strategic alliances, partnerships, acquisitions, and licensees for the Company's patent protected biomarker discoveries.
Mr. Fanelli brings to the Company extensive experience in strategic planning, as well as, business and product development in the biotechnology arena. Specifically, Mr. Fanelli has been in executive management positions for more than 20 years, including Beckman Instruments, which was acquired by SmithKline. He then joined Cetus Corporation as Director and General Manager of their Instrument Division which was acquired 3 years later, along with the PCR amplification technology, by Perkin Elmer. Thereafter, Mr. Fanelli served at the Vice President level of Marketing, Sales and Business Development at emerging growth companies in the Biotechnology Market Sector including American Bionetics, Cangene Corporation, Microgenics Corporation, Quantum Biotechnologies and Structural Bioinformatics. He participated in the acquisition of two companies and played a key role in starting and growing multi-million dollar biomedical research companies; three of which had successful initial public stock offerings (IPO's). Mr. Fanelli earned a Master's Degree in Biological Sciences from California State University, Fullerton.
Stephen D. Barnhill, M.D., Chairman and Chief Executive Officer of Health Discovery Corporation stated, "We are pleased to have Joe Fanelli join our management team as Director of Corporate Development." Dr. Barnhill continued, "We look forward to expanding our corporate objectives in biomarker discovery with the expertise and experience provided by Mr. Fanelli as we continue to position ourselves in the international diagnostic and drug discovery market."
Mr. Fanelli said, "I am looking forward to working with Dr. Barnhill and the very impressive team being assembled within Health Discovery Corporation." Mr. Fanelli continued, "The dawn of the post-genome era is leading to extraordinary opportunities in biomedicine with post-genomic biomarker-based diagnostic products being projected to grow from $100 million in 2003 to $2 billion by 2008. It will be exciting to be an integral part of the management team of Health Discovery Corporation as the Company positions itself in biomarker discovery."
This news release contains "forward-looking statements" within the meaning of Section 27a of the Securities Acts of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct.