DENVER, June 15, 2005 (PRIMEZONE) -- OnSource Corporation (OTCBB:OSCE) d/b/a Ceragenix Pharmaceuticals ("Ceragenix" or the "Company"), has named Russell L. Allen its new Vice President of Corporate Development.
"We are thrilled to announce the addition of Russell Allen as Vice President of Corporate Development," commented Ceragenix Chairman and CEO Steven Porter. "As we move into the next phase of our business, the commercialization of our medical devices, Allen's impressive background in business development for the pharmaceutical industry will be an extremely valuable asset to Ceragenix."
Prior to joining Ceragenix, Allen served as Senior Vice President of Corporate Development for Cellular Genomics Inc., and Vice President of Corporate Development and Strategic Planning at Ligand Pharmaceuticals, where he was responsible for concluding a wide variety of business development transactions including major strategic alliances with pharmaceutical firms. Prior experience includes a decade with Sanofi Winthrop (including preceding corporate entities Sterling Winthrop and Eastman Pharmaceuticals), in positions such as General Manager for Central American pharmaceutical operations and VP level positions in business development and strategic planning. He also has over ten years of marketing and business development experience with Bristol-Myers Squibb and Procter & Gamble in Rx, OTC, and nutritional products. Allen received his B.A. from Amherst College and his MBA from Harvard Graduate School of Business Administration.
About Ceragenix Pharmaceuticals
Ceragenix Pharmaceuticals is a development stage healthcare company focused on dermatology, infectious diseases and oncology. Ceragenix' patented Barrier Repair Technology, invented by Dr. Peter Elias and licensed from the University of California, is the platform for the development of two prescription topical creams-Epiceram(tm) and NeoCeram(tm)--that form human-identical skin barriers. Defects in the skin's barrier function play critical roles in the pathogenesis of skin diseases such as eczema, irritant contact dermatitis and other common skin disorders. The Company's patented Cationic Steroid Antibiotic (CSA) technology provides the basis for its novel antimicrobial medical device coating that may be attached to various medical devices to provide potentially long duration antimicrobial activity. Ceragenix also plans to develop CSAs for use as topical and systemic antibiotic therapies in the treatment of skin infections (MRSA), burn wound infections, eye infections and other indications.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, the following: the ability of the company to raise sufficient capital to finance its planned pharmaceutical activities, receiving the necessary marketing clearance approvals from the FDA, successful clinical trials of the company's planned products, the ability of the company to commercialize its planned products, market acceptance of the company's planned products, and the company's ability to successfully compete in the marketplace. Although management believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking statements will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements, the inclusion of such information should not be regarded as a representation by the company or any other person that the objectives and plans of the company will be achieved. For further information, please see the company's filings with the SEC, including its Forms 10-KSB, 10-QSB and 8-K. The company assumes no obligation to update its forward-looking statements to reflect actual results or changes in factors affecting such forward-looking statements.