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SoluBest Appoints Michael Sheckler, MBA, as CEO

TEL AVIV, Israel, Sept. 10 /PRNewswire/ -- SoluBest Ltd., a privately held, clinical stage developer of a novel solubilizing technology, has appointed Michael Sheckler, MBA, as CEO. Mr. Sheckler brings over 25 years of pharmaceutical experience to SoluBest.

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Mr. Sheckler began his career with the Ross Division of Abbott Laboratories, selling nutritional and pharmaceutical products. During his time there, he served in a variety of sales roles, winning numerous awards. As a market research analyst, Mr. Sheckler was responsible for the market assessment and product launch plans for several line extensions.

Mr. Sheckler left Ross in 1999 to join Bespak, Inc., a drug delivery technology company, where he held several roles of increasing responsibility. As Head of Marketing for the newly created Nasal Drug Delivery business, he was instrumental in launching the business stream, assessing and growing new business opportunities in the U.S., and developing and implementing the launch and marketing plans for new products.

Upon leaving Bespak, Mr. Sheckler joined Intranasal Technology, Inc, a Kentucky-based nasal drug delivery company as Director of Business Development where he successfully created and implemented a business development and marketing communications strategy positioning the company for its entry into the nasal analgesia market.

Prior to joining SoluBest, Mr. Sheckler served as Vice President of Business Development at Javelin Pharmaceuticals. During his tenure, he realized annual savings of $350M through recognizing and negotiating a new contract manufacturing agreement and strengthened a successful $32M fundraiser through serving an integral role in investor conferences and road shows.

Mr. Sheckler graduated from Indiana University and obtained his MBA from The Fuqua School of Business at Duke University in Durham, North Carolina. He has been an Editorial Advisor for the journal, "Specialty Pharma," and has chaired and spoken at numerous industry conferences. Mr. Sheckler has authored several articles which have been published in industry magazines.

"SoluBest has successfully advanced its technology in a critically important area of medicine. This promises to enhance patient outcomes through innovative and improved drug delivery. Now, with Michael Sheckler joining our talented team, we are confident that his added value will allow us to realize that promise in short order," said SoluBest Board Chairman Ronnie Hershman, M.D.

"I'm excited to have the opportunity to lead SoluBest to the next level of growth and commercialization. I share the passion of our Board and shareholders to bring our state-of-the-art technology to the pharmaceutical market in order to provide solubility-enhancing formulations for our partners' currently marketed and pipeline molecules," commented Mr. Sheckler.

About SoluBest

SoluBest is a clinical stage company developing proprietary nanoformulation-based improvements of existing compounds and compounds in development.

The company applies its Solumer(TM) technology to poorly soluble or insoluble drugs which have not achieved their therapeutic potential due to delivery and/or compliance deficiencies.

The Company's proprietary solubilization technology is versatile and is widely applicable to numerous off-patent (or soon to be off-patent) drugs and new chemical entities (NCE's).

A significant advantage of the technology stems from its use of readily available equipment for a process consisting of a few simple steps - making scale-up safe, robust, rapid and inexpensive.

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SOURCE SoluBest Ltd.
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