National Pharmaceuticals (PINK:NFRM) announced today that it has appointed Dr. Gary Yalloway as its Chief Scientific Advisor. The company has a market cap of just under $5 million and last traded at $0.12 per share on heavy volume of nearly 400,000 shares.Dr. Yalloway is a researcher on cytokines and growth factors. He has designed the production of GLB333 through recombinant technologies at Globe Laboratories where he currently is the Chief Operating Officer and Head of all Technologies. He brings to NFRM over 14 years of multidisciplinary research experience and skills in protein engineering and the structural functional relationships of proteins of medical and industrial interest.
Dr. Yalloway earned his Ph.D. from University College, Dublin, Ireland and was a post doctoral fellow at the Institute for Biophysical Chemistry, Frankfurt, Germany and the University of British Columbia, Vancouver, Canada. Dr Yalloway was also a postdoctoral research associate at Simon Fraser University where he was lab manager and a team leader responsible for the project management of junior scientists. He served as senior research officer at Chemokine Therapeutics.
"Dr. Yalloway has outstanding skills and vast experience in biopharmaceutical drugs development.", said Elaine Affleck, President of National Pharmaceuticals Corp. "We are pleased to have Dr. Yalloway lead our scientific team and supervise the development of GLB333", Added Ms. Affleck.
Also, the company recently announced, in a press release, that its lead therapeutic drug, GLB333 was awarded a grant from Canada's National Research Council. The grant will be used toward development methods for large scale manufacturing of the drug. The grant which is awarded to Globe Laboratories, the licensor of the technology is for $30,000 for this year and can be increased significantly upon completion of preliminary feasibility studies. National has signed a letter of intent with Globe labs to license GLB333, a drug believed to be effective in vascular regeneration, organ transplant and wound healing. The product may have other therapeutic benefits, including pain management due to muscle injury and trauma.
"We are pleased with this Government financial grant for our product which further endorses the need for its rapid development and commercialization," said Elaine Affleck, President of National Pharmaceuticals.
National Pharmaceuticals is a Pharmaceutical Research and Development Corporation focused on leading edge technologies for treatment of human diseases. The company has embarked into the business of licensing mid stage development drugs for further development and marketing worldwide.
For more information, please visit: www.nationalpharmacorp.com.
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