Pinnacle Biologics Appoints James L. Foght PhD to the Board of Directors

August 12, 2010

BANNOCKBURN, Ill., Aug. 12 /PRNewswire/ — The Board of Directors of Pinnacle Biologics Inc. has appointed Mr. James L. Foght PhD as a director of the corporation, effective July 28, 2010.

Dr. Foght has over 40 years experience in the healthcare and life science industries. He was a co-founder of DuPont Pharmaceuticals and the founder and President of Vector Securities International, a premier investment banking firm specializing in life sciences. He is currently chairman of the Board of Directors of Illinois Ventures LLC, a premier seed and early technology investment firm that commercializes technologies from the University of Illinois and other Midwestern universities. He also holds many advisory positions, and he is board member of the Illinois Emerging Technology Funds, Chairman of PharmaIn Inc. and a former board member at Cambridge Antibody Technology (UK), Acrux Limited (Melbourne, Australia) and Advisory Board Member for Ovation Pharmaceuticals (now Lundbeck).

“We are pleased with the addition of Jim to our Board of Directors,” said Guillermo Herrera, Executive Chairman of Pinnacle Biologics Inc. “Jim brings to Pinnacle the combination of scientific background, industry experience, financing and banking knowledge.”

“I am excited to join the Board of Directors of Pinnacle Biologics; Pinnacle management, product line and expansion programs makes this company an outstanding player in the emerging healthcare space,” said Dr. Jim Foght.

About Pinnacle:

Founded in 2008, Pinnacle Biologics Inc. is an emerging Pharmaceutical company devoted to the acquisition of revenue generating products primarily in the Oncology field. Pinnacle spends resources in increasing product revenues by managing product life-cycle trough expansion of indications, new forms and applications of the products. Currently Pinnacle commercializes ETHYOL®, brand of Amifostine in Western Europe.

    Contact information: Guillermo A. Herrera

SOURCE Pinnacle Biologics Inc.

Source: newswire

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