SAN DIEGO, May 10, 2011 (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc., ("Apricus Bio") (Nasdaq:APRI) today announced that Randy Berholtz, Esq. has been appointed as the Company's Executive Vice President, General Counsel and Secretary.
Mr. Berholtz brings to Apricus Bio approximately 20 years of experience as a lawyer and in-house counsel, with at least 15 of that in the life sciences industry. Prior to joining the Company, from 2004 to 2010, he served as the Vice President, General Counsel and Secretary of ACON Laboratories, Inc. and its affiliates, a group of San Diego and Hangzhou, China-based diagnostics and medical device companies. From 2003 to 2004, he was the Chief Operating Officer and General Counsel to IngleWood Ventures, a San Diego-based life science venture fund. From 2000 to 2003, Mr. Berholtz held various positions, including Acting General Counsel and Secretary, and Senior Corporate Counsel, of Nanogen, Inc., a Nasdaq-listed genomics company. Prior to that time, he was an attorney with Heller Ehrman, LLP and Cooley Godward, LLP in San Diego, Cravath, Swaine and Moore in New York City, and Kirkpatrick & Lockhart (now K&L Gates) in Pittsburgh, Pennsylvania.
Mr. Berholtz received his bachelor's degree from Cornell University, his master's degree from Oxford University, where he was a Rhodes Scholar, and his law degree from Yale Law School.
"At this time of growth, as we transition to a commercial stage biopharmaceutical company and pursue numerous commercial partnership discussions and negotiations, Randy's legal, regulatory and business expertise will be a valuable asset to our organization," said Dr. Bassam B. Damaj, Chairman, President and Chief Executive Officer of the Company. "The executive team welcome Randy's extensive experience and expert counsel as we move ahead with our exciting new endeavors."
About Apricus Biosciences, Inc.
Apricus Bio, a San Diego based revenue-generating pharmaceutical company, has leveraged the flexibility of its clinically-validated NexACT® drug delivery technology to enable multi-route administration of new and improved compounds across numerous therapeutic classes.
Revenues and growth are driven from out-licensing of this technology for the development and commercialization of such compounds to pharmaceutical and biotechnology companies worldwide. In addition, the Company is seeking to monetize its existing product pipeline, including its first product, Vitaros®, approved in Canada for the treatment of erectile dysfunction, which is currently expected to be available on the Canadian market in 2011, as well as compounds in development from pre-clinical through Phase III, currently focused on Sexual Dysfunction, Oncology, Dermatology, Autoimmune, Pain, Anti-Infectives, Diabetes and Cosmeceuticals among others.
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Apricus Bio's Forward-Looking Statement Safe Harbor
Statements under the Private Securities Litigation Reform Act, as amended: 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 individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, its ability to further development products and product candidates, to have its products and product candidates approved by relevant regulatory authorities, to successfully commercialize such products and product candidates and to achieve its other development, commercialization and financial goals. 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, subsequent quarterly reports filed on Form 10-Q and other filings made with the SEC. Copies of these reports are available from the SEC's website or without charge from the Company.
CONTACT: Apricus Biosciences, Inc. Edward Cox, V.P. Corporate Development & Investor Relations, Apricus Biosciences, Inc. (858) 848-4249 firstname.lastname@example.org Apricus Bio Investor Relations Paula Schwartz Rx Communications Group, LLC (917) 322-2216 email@example.com