Levin said that the Company's primary goal is to interest a pharmaceutical partner in Naturlose. To that end he said, while the phase 3 trial is running, Spherix will put together a data package geared for the pharmaceutical industry. Levin said, "Perhaps most importantly, we will begin to develop the market. This includes educating potential users on the product and its benefits, and determining the best path to market."
Levin said that the Company is finalizing the protocol for a dose range study. An additional arm to the study will determine if Naturlose will work with one dose per day. Levin concluded his comments by saying, "I believe the biotech side of the company is positioned well for success. It will have a substantial cash reserve, an exciting product in a phase 3 clinical trial, and a solid leader in Dr. Claire Kruger. We could not have found a better person to lead us through this phase in the Company's history."
At a Board of Directors meeting later the same day, the Board elected Claire Kruger, Ph.D., as CEO of Spherix to replace Richard Levin, who will continue to manage InfoSpherix, becoming an employee of The Active Network. Dr. Kruger will also be responsible for building Spherix's new business line in health sciences consulting. Board member Robert Lodder, Ph.D., was elected President of Spherix.
In addition, the Board of Directors nominated Paul Cox as Chairman, and the following slate of Corporate Officers was elected:
-- Paul Cox, Chairman of the Board
-- Claire Kruger, CEO/COO
-- Robert Lodder, President
-- Katherine Brailer, Corporate Secretary and Director of Administrative
-- Robert Clayton, Interim CFO and Treasurer
At this meeting, Gilbert Levin, Ph.D., was made Chairman Emeritus. In
order to satisfy Sarbanes-Oxley regulations that the majority of the Board
must be independent, Richard Levin and
|SOURCE Spherix Incorporated|
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