LA JOLLA, Calif., June 27, 2013 (GLOBE NEWSWIRE) -- Innovus Pharmaceuticals Inc., ("Innovus Pharma") www.innovuspharma.com (OTCBB:INNV) today announced the appointment of Robert E. Hoffman to the Company's recently formed Business and Finance Advisory Board.
Mr. Hoffman, 47, has broad financial experience in the biopharmaceuticals sector. He is Senior Vice President, Finance and Chief Financial Officer of Arena Pharmaceuticals, Inc. (Nasdaq:ARNA), a San Diego-based biopharmaceutical company focused on discovering, developing and commercializing novel drugs that target G protein-coupled receptors, or GPCRs, to address unmet medical needs. BELVIQ® (lorcaserin HCl), Arena's internally discovered drug, is approved in the United States, and is under review for regulatory approval in additional territories.
Since joining Arena in 1997, Hoffman has served in various finance and accounting roles that have involved Arena's IPO, follow-on financings and transition to a commercial-stage company. In addition, he has served as CFO of Polaris Group, a privately held drug development company.
Dr. Bassam Damaj, President and Chief Executive Officer of Innovus Pharma, said, "We are extremely pleased that Mr. Hoffman will play a key advisory role as we execute our aggressive growth plans over the next several years. His broad experience in finance and accounting in the biopharmaceutical field will be invaluable."
Mr. Hoffman serves as a member of the Financial Accounting Standards Board's Small Business Advisory Committee and the steering committee of the Association of Bioscience Financial Officers. He is also a member and a former director and President of the San Diego Chapter of Financial Executives International. Mr. Hoffman holds a B.B.A. from St. Bonaventure University, and is licensed as a C.P.A. (inactive) in the State of California.
Innovus Pharma, headquartered in La Jolla, California, is an emerging pharmaceuticals company that delivers innovative and uniquely presented and packaged health solutions through its over-the-counter medicines and consumer and health products.
For more information, go to www.innovuspharma.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may be considered to be "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that may individually or mutually impact the matters described in this release for a variety of reasons, many of which are outside the control of Innovus Pharma. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's most recent annual report on Form 10-K and other filings made with the SEC. Copies of these reports are available from the SEC's website or the "Investors" section of Innovus Pharma's website at innovuspharma.com.
Innovus Pharma Contact: Kevin Holmes Chesapeake Group T: 410-825-3930