NEW YORK and LONDON, Nov. 3, 2005 (PRIMEZONE) -- Bioaccelerate Holdings Inc. (OTCBB:BACL) today announces that Sir Charles George has agreed to be appointed to the Board of Directors.
Professor Sir Charles George was the President of the British Medical Association from July 2004 to July 2005, and from 1999 to the end of 2004 was Medical Director of the British Heart Foundation.
During his illustrious career, Sir Charles has been Dean, Faculty of Medicine, health and biological sciences, University of Southampton, Professor of Clinical Pharmacology, University of Southampton, member of the General Medical Council, Chairman of the General Medical Council's education committee and Chairman of the Joint Formulary Committee of the British National Formulary.
Sir Charles George was knighted in 1998 for his services to medicine and medical education.
Dr. Frank Armstrong of Bioaccelerate stated, "The appointment of Sir Charles George, and the recently announced appointments of Dr. George Butler and Dr. Ronald Martell as non-executive directors, adds a wealth of industry experience to the management team of Bioaccelerate which will benefit the company and assist greatly in the company's growth plans. The company is extremely pleased that we have been able to attract these high calibre individuals to our board, as it not only validates our operating model, but through their knowledge of the industry, will help the company remain clearly focused on its goal of developing drugs and therapies that will benefit the lives of many people."
Bioaccelerate Holdings Inc. (OTCBB:BACL) is a pharmaceutical development organization (PDO) that seeks to acquire, develop and commercialize novel pharmaceutical compounds in an efficient, cost-effective way. Bioaccelerate uses its broad network of academic, industry and capital market relationships to expedite drug development and raise capital to create and fund its subsidiary companies, which are organized by vertical portfolios in five therapeutic areas: oncology, specialty pharmaceuticals, central nervous system disorders (CNS), cardiovascular disease and anti-infectives.
Bioaccelerate conducts its business directly and through its subsidiaries. The company holds majority equity interests in 10 biopharmaceutical companies, three of which are public, and holds minority interests in four biopharmaceutical companies, two of which are public. The company also holds a minority equity interest in a public nanotechnology company. Bioaccelerate's strategy relies on its development network for research, clinical development and project management to guide early-stage compounds from the discovery process through to Phase II/III development where incremental value can be created. Bioaccelerate Holdings is listed on the Over-The-Counter Bulletin Board under the symbol BACL. For more information on Bioaccelerate, visit the company's Web site at http://www.bioaccelerate.com.
Bioaccelerate Safe Harbor Statement
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because these statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Specifically, factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to: risks associated with pre-clinical and clinical developments in the biopharmaceutical industry in general and in Bioaccelerate's compounds under development in particular; the potential failure of Bioaccelerate's compounds under development to prove safe and effective for treatment of disease; uncertainties inherent in the early stage of Bioaccelerate's compounds under development; failure to successfully implement or complete clinical trials; failure to receive marketing clearance from regulatory agencies for our compounds under development; acquisitions, divestitures, mergers, licenses or strategic initiatives that change Bioaccelerate's business, structure or projections; the development of competing products; uncertainties related to Bioaccelerate's dependence on third parties and partners; and those risks described in the filings with the SEC, all of which are under Bioaccelerate's prior name, Mobile Design Concepts, Inc. Bioaccelerate disclaims any obligation to update these forward-looking statements.
Bioaccelerate Holdings Inc. Christopher O'Toole 212-332-4387 www.bioaccelerate.com