SOUTH PLAINFIELD, N.J., Aug. 12, 2010 (GLOBE NEWSWIRE) -- Laxai Pharma, Ltd. (the "Company") (OTCBB:LAXAF), an international pharmaceutical contract research organization ("CRO"), is pleased to announce the addition of previously interim Chief Executive Officer, Naren Mallakunta to the Company's Full time Management Team.
Mr. Naren Mallakunta brings over 23 years of Management experience in virtually all aspects of Marketing, Project Management, Operations, Finance and Business Development to the table. He has created and implemented successful development, managerial, and financial strategies at various key executive positions in numerous leading organizations.
"I am extremely excited about the prospects of Laxai. There are multiple avenues for growth and profitability that we are continuing and planning to pursue going forward. Ram and the rest of the team have a solid platform from which we can not only add organic growth, but fold in both domestic and international acquisitions and joint ventures as well," stated Mr. Mallakunta.
Mr. Mallakunta's resume includes serving as the Global Head of Business Development at GVK Biosciences, Asia's leading Contract Research Organization offering Drug Discovery and Development services, where he played a significant role during its rise from inception to the top in its industry. His experience in the industry includes structuring innovative business deals with Big Pharma and Biotech companies, some of which have been the most significant collaborations in the Contract Research Industry. Further, he has contributed towards setting new standards that drive efficiency and productivity while partnering with the biopharmaceutical industry.
"We are confident that Naren will be a tremendous asset to Laxai. By placing a Chief Executive Officer with his capability and experience at the helm, we expect to be able to substantially accelerate the Company's growth," stated Ram Ajjarapu, Executive Chairman of Laxai.
About Laxai Pharma, Ltd.
Laxai Pharma LTD. is a Contract Research Organization providing integrated services across the drug discovery and development spectrum. The Company has steadily evolved, with global facilities in the United States and India. Laxai provides services in Medicinal Chemistry, Biology, Process R&D and Analytical Services, Clinical Research, Strategic Resourcing and Training to the Biopharmaceutical and Agrochemical Companies. Laxai offers a unique value proposition to clients in their drug discovery and development initiatives through innovative global partnership models.
SAFE HARBOR: This press release contains certain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward looking statement made by or on behalf of Laxai Pharma, Ltd. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect Management's judgment based on assumptions as of the date hereof which may or may not prove to be correct. Readers are referred to the documents filed by the company with the United States Securities and Exchange Commission, that identify important risks which could cause actual results to differ from those contained in the forward looking statements.
This High-Value, Low Cost press release is a product of So Act Network's Press Club. www.pressclub.biz