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Xechem International Announces Hiring of a Managing Director for Xechem Pharmaceuticals Nigeria BusinessWire - December 18, 2006 12:41 PM ET
Related Quotes Symbol Last Chg XKEM Trade 0.0187 +0.0004 Quotes delayed at least 15 minutes
Xechem International, Inc. (OTC BB: XKEM) today announced that it has appointed Mr. Iretiolu Oniyide Managing Director of its Xechem Pharmaceuticals Nigeria Ltd. subsidiary. Mr. Oniyide, born in Nigeria and currently a resident of the United States, was selected for his high-level experience in pharmaceuticals, banking and government after an exhaustive, international search. He will relocate to Nigeria to head up this critical operation.
Dr. Ramesh Pandey, Chairman and CEO of Xechem International, stated, "We are very pleased with Mr. Oniyide's decision to take on this key position for Xechem Nigeria as we prepare for full-scale production of NICOSAN(TM), our groundbreaking new treatment for Sickle Cell Disease, at our new Abuja manufacturing facility. He brings a wealth of experience from a 30-year distinguished career in banking and pharmaceuticals, including three years as Chief Operating Officer of a pharmaceutical start-up company. He brings the necessary tools for the hard work ahead of us, with a unique vision, creativity and understanding of the plight of the 4 million Sickle Cell patients in Nigeria.
"Besides his strong background working with multinational corporations, their boards and officers on a wide range of disciplines including management, operations, finance, lending and business consulting, Mr. Oniyide is a former gubernatorial candidate in Nigeria who understands the intricate workings of industry and government necessary to bring our NICOSAN(TM) product from the small scale stage to mass production. He will be taking over from Col. Bhuwan Pandey, Vice President of Xechem International Operations, who has magnificently shepherded the NICOSAN(TM) project and Xechem Nigeria in Abuja since the inception of this project in 2002."
Mr. Oniyide holds a B.Sc. in Economics and International Business from New York University and an MBA in International Business from Adelphi University.
Mr. Oniyide said, "I am excited about the prospects of this challenging position, bringing a complex pharmaceutical product to full scale production. More importantly, it provides me a unique opportunity to give back to my community and provide a much needed product to end the suffering of many of my fellow citizens. I hope to live up to the high standards established by Col. Bhuwan Pandey."
Xechem Nigeria is presently engaged in small scale production of NICOSAN(TM), the first new product in decades to successfully treat the symptoms of Sickle Cell Disease. According to Dr. Pandey, "The expansion of our facility for the manufacture and delivery of NICOSAN(TM) to the millions of needy sufferers in Nigeria is our first and foremost directive".
Professor Soji Adelaja, John A. Hannah Distinguished Professor and Director of the Land Policy Institute at Michigan State University and Xechem International and Xechem Nigeria Board member, said, "Ireti is a seasoned leader who will bring much needed leadership to this new phase of Xechem Nigeria's evolution. The Company is doing everything in its power to organize the resources to put in place a full scale production facility and Ireti's background in the financial industry will help tremendously," Dr. Adelaja continued and said: "Raising the funds from the international community for a Nigerian-based operation designed primarily to service the Nigerian market is subject to all the challenges of the marketplace, but we are determined to make this vision a reality."
Nigeria's Minister of Health, Professor Eyitayo Lambo, said, "We are very supportive of the efforts of Xechem Nigeria to move from a small scale to a full scale production facility, which once completed, will provide hope for millions of Sickle Cell sufferers. We welcome the addition of Mr. Oniyide as Managing Director. He brings an intimate knowledge of the community and pharmaceuticals to Xechem Nigeria."
Nigeria's Minister of Science and Technology, Dr. Turner Isoun, stated, "We are all proud of Xechem Nigeria, particularly of Dr. Ramesh Pandey, who has developed the necessary state-of-the-art facilities in the Science Village, SHESTCO, Abuja, to bring NICOSAN(TM), a phytopharmaceutical product from natural plant extracts found in Nigeria, to combat Sickle Cell Disease, one of the most debilitating diseases on the continent and throughout the world."
About Xechem
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XKEM (.02) Update From The Recent 10th Annual NYSSA Biotech Conference
Business Wire "US Press Releases "
NEW BRUNSWICK, N.J.--(BUSINESS WIRE)--
Xechem International, Inc. (OTC BB: XKEM) announced today that Xechem was well received and applauded for Dr. Pandey's work in developing and bringing to market the best treatment in 30 years to relieve the suffering of patients from Sickle Cell Disease (SCD) in Nigeria and throughout the world at the 10th Annual New York Society of Security Analysts Biotech Conference, December 12th/13th, 2006. Some of the highlights given by Dr. Pandey at the conference were: revenues in the first year of full production are estimated to be in the $30 million range, with a 3 to 5 year outlook of $75 - $100 million in Nigeria alone, assuming current pricing and further premised upon Xechem procuring necessary financing, receiving continued regulatory approval from Nigeria and completing construction of the Nigeria manufacturing plant; Worldwide market for Sickle Cell treatment is believed to be 16-18 million patients, with 10 million in Africa; the Nigerian government has raised the priority of Sickle Cell Disease to number two following AIDS at number one. They have also stated that the Nigerian Government will help pay for the treatment of those individuals that cannot pay for NICOSAN(TM). Dr. Pandey's presentation can be accessed through the Xechem Web Site at www.xechem.com.
Dr. Pandey introduced the new Managing Director for Xechem Pharmaceutical Nigeria, Mr. Iretiolu Oniyide, who comes to the Company with a distinguished career in the banking and pharmaceutical fields for over 30 years.
Xechem is also preparing an IND application to the FDA for US clinical trials to begin on HEMOXIN(TM) which is the name of NICOSAN(TM) for the US and Europe. Five US hospitals have agreed to take part in the clinical trials. UMDNJ, Children's Hospital of Philadelphia, SUNY-Brooklyn, Thomas Jefferson and Howard University hospitals. The opening of new Xechem offices in the UK will enable future clinical trials in Europe.
About Xechem
Xechem International is a development stage biopharmaceutical company working on Sickle Cell Disease (SCD), antidiabetics, antimalarials, antiviral (including AIDS), anticancer, antifungal and antibacterial products from natural sources, including microbial and marine organisms. Its primary focus is on the development of proprietary technologies, including those used in the treatment of orphan diseases. Xechem's mission is to bring relief to the millions of people who suffer from these diseases. Its recent focus and resources have been directed primarily toward the development and launch of NICOSAN(TM) (named HEMOXIN(TM) for the US and Europe) for the prophylactic management of Sickle Cell Disease (SCD). With the recent limited Nigerian regulatory approval of NICOSAN(TM), Xechem is now scaling-up the commercialization of the drug in Nigeria and making preparations for the pursuit of US FDA and European regulatory approval. In addition to NICOSAN(TM), Xechem is also working on another sickle cell compound, 5-HMF, which it has licensed from Virginia Commonwealth University (VCU).
Forward Looking Statements
This press release contains certain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended, and section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by safe harbors created hereby. Such forward looking statements involve known and unknown risks and uncertainties.
Source: Xechem International, Inc.
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-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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We expect sales of between $240 million and $288 million per year in Nigeria in the next three to five years. Then we plan to market the drug in all African countries because there are no other drugs on the market.
posted
This stock is going MUCH higher folks...it'll be a quarter before it hits the US market IMO
"Xechem is also preparing an IND application to the FDA for US clinical trials to begin on HEMOXIN(TM) which is the name of NICOSAN(TM) for the US and Europe. Five US hospitals have agreed to take part in the clinical trials. UMDNJ, Children's Hospital of Philadelphia, SUNY-Brooklyn, Thomas Jefferson and Howard University hospitals. The opening of new Xechem offices in the UK will enable future clinical trials in Europe."
Posts: 2292 | Registered: Mar 2005
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posted
Might have to pay more attention to this. lol. getting some fda approval or even start getting some results or partial results from the trials should spin this up pretty good.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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quote:Originally posted by doling2005: This stock is going MUCH higher folks...it'll be a quarter before it hits the US market IMO
"Xechem is also preparing an IND application to the FDA for US clinical trials to begin on HEMOXIN(TM) which is the name of NICOSAN(TM) for the US and Europe. Five US hospitals have agreed to take part in the clinical trials. UMDNJ, Children's Hospital of Philadelphia, SUNY-Brooklyn, Thomas Jefferson and Howard University hospitals. The opening of new Xechem offices in the UK will enable future clinical trials in Europe."
Do agree with you mizzou. will probably take a rs or some VERY very good news to attract major buyers. by the time they get closer to fda approval maybe they will have thought of that.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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quote:Originally posted by Lockman: Chart looks good, but the pps didn't move much on 580,000 buy. Is this deluted.
Lock
imo without a doubt. mainly through their bigtime sponsor chaseman. (spelling) check the threads.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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quote:Originally posted by BooDog: "Not with the current O/S and A/S..."
Do agree with you mizzou. will probably take a rs or some VERY very good news to attract major buyers. by the time they get closer to fda approval maybe they will have thought of that.
Ya, they'd need a R/S. But since they just approved the A/S this last shareholders meeting, they prolly wouldn't do a R/S that fast.
But maybe I'm wrong. 3 Billion in O/S does look kinda lame
Red
Posts: 723 | From: MotorCity | Registered: Jun 2006
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posted
Their approval is still pretty far off IMO plenty of time.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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quote:Originally posted by Sally77: Nice movement today for such a terrible stock by all of your standards. Why wait for approval when there is money to be made now?
good for some flips while we wait, no doubt Sally - Cheers!
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
I think there was an article like that months ago and nothing ever came of it. Does anyone else remember that?
Posts: 1220 | From: Denver, CO | Registered: Jun 2005
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