LAVAL, Quebec, June 20, 2014 (GLOBE NEWSWIRE) -- NeuroBioPharm Inc. ("NeuroBio" or the "Corporation") a Neptune Technologies & Bioressources Inc. subsidiary ("Neptune") (Nasdaq:NEPT) (TSX:NTB) announces that at its Annual General Meeting (the "Meeting"), held on June 19, 2014, the Corporation's shareholders voted in favour of all items put forth at the Meeting and outlined in the Corporation's management proxy circular dated May 22, 2014 (the "Circular") available on SEDAR at www.sedar.com and EDGAR at www.sec.gov/edgar.shtml.
Changes to the Board of Directors
Shareholders re-elected Dr. Ronald Denis and Valier Boivin. As well, five new directors were elected, including, Mr. Pierre Fitzgibbon, Mr. Adrian Montgomery, Dr. Reed V. Tuckson, Dr. Harlan W. Waksal and Mr. Jerald J. Wenker.
"On behalf of NeuroBioPharm's Board of Directors and management team, I would like to welcome our new Board members," commented Mr. André Godin, Interim President and Chief Executive Officer. "NeuroBioPharm's shareholders have elected a strong slate of directors who bring deep industry experience in health, nutrition, finance, sales and marketing and have a solid track record of value creation in their respective areas. We will benefit from their leadership and experience as we move forward with our growth initiatives."
As previously announced, Mr. Henri Harland, Mr. Jean-Claude Debard and Mr. Daniel Perry did not stand for re-election to the Board. Mr. Perry resigned from the Board on June 18, 2014.
About NeuroBioPharm Inc.
NeuroBioPharm ("NeuroBio") is an emerging biopharmaceutical company focused on the research, development and commercialization of new marine based omega-3 phospholipid therapies for use in the human neurological field, including conditions, abnormalities and/or diseases related to cognitive functions such as attention, memory, concentration and learning and the management of neurological and neurodevelopmental disorders from prevention to treatment. The Corporation is currently in the early stages of developing novel active pharmaceutical ingredients ("API") into commercial products for the medical food, the over-the-counter ("OTC") and the prescription drug markets. Particular focus is being given to ADHD; cognitive functions, including memory and concentration; along with mood disorders, such as anxiety and depression.
About Neptune Technologies & Bioressources Inc.
Neptune is a biotechnology company engaged primarily in the development and commercialization of marine-derived omega-3 polyunsaturated fatty acids (''PUFAs''). Neptune has a patented process of extracting oils from Antarctic krill, and principally sells omega-3 PUFAs as bulk oil to Neptune's distributors who commercialize them under their private label primarily in the U.S., European and Australian nutraceutical markets. Neptune's products generally come in bulk oil or capsule form and serve as a dietary supplement to consumers. Neptune's head office is located at 545 Promenade du Centropolis, Suite 100, Laval, Quebec.
Neptune respectively holds approximately 49% of the participating and voting rights of Acasti and 95% of the voting rights of NeuroBioPharm. Through these subsidiaries, Neptune is also pursuing opportunities in the medical food and prescription drug markets. Acasti and NeuroBioPharm respectively focus on the research and development of safe and therapeutically effective compounds for highly prevalent atherosclerotic conditions, such as cardiometabolic disorders and cardiovascular diseases, and for neurodegenerative and inflammation related conditions. Acasti's lead prescription drug candidate is CaPre®, a purified high omega-3 phospholipid concentrate derived from Neptune krill oil being developed to address the prevention and treatment of cardiometabolic disorders, including hypertriglyceridemia, which is characterized by abnormally high levels of triglycerides.
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the U.S. securities laws and Canadian securities laws. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of Neptune to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will," or "plans" to be uncertain and forward-looking. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in Neptune and NeuroBio's public securities filings with the Securities and Exchange Commission and the Canadian securities commissions. Except as required by law, Neptune and NeuroBio disclaim any intention or obligation to update or revise any forward-looking statements.
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