Board Appoints Carlton Turner as Chairman, Robert Schnitzius as Acting President & CEO
IRVING, Texas, Dec 11 /PRNewswire-FirstCall/ -- DelSite, Inc. (OTC Bulletin Board: DSII.OB), a drug delivery technology company, today announced that George DeMott, chairman of the board of directors for the Company, has resigned his position as chairman, effective immediately. Mr. DeMott will continue to serve on the board until his term ends in May 2009.
The board of directors of DelSite, Inc., named Dr. Carlton Turner as chairman. Dr. Turner is retiring from his position as president and CEO as of December 31, 2008. The board has also appointed Robert Schnitzius, the company's chief financial officer, as acting president and CEO, effective January 1, 2009.
Mr. DeMott has been the board's chairman since 1995. He has overseen the transition of Carrington Laboratories, Inc. from a wound care manufacturing company with basic R&D into a vaccine and drug delivery company.
DelSite Biotechnologies, Inc (DSBI) was established as a wholly-owned subsidiary of Carrington in 2001. DSBI's business plan was to develop Carrington's proprietary vaccine and drug delivery technology. Under Mr. DeMott's leadership and based on DSBI advancements, Carrington exited the wound care business and changed its name from Carrington Laboratories to DelSite, Inc. in June of this year.
DelSite continues to transition itself into a more traditional biotech company focused on delivery platforms for vaccines and drugs. Core technology is a naturally occurring linear, negatively charged carbohydrate polymer with the ability to stabilize proteins and peptides.
Mr. DeMott said, "DelSite has completed the Phase I safety of our nasal powder delivery platform GelVac(TM) and has also filed an IND for a Phase I effectiveness and safety study of a GelVac(TM) formulated influenza va
|SOURCE DelSite, Inc.|
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