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Star Scientific Announces Leadership Transition, Acceleration of Plans for Submission of an IND to FDA for Pharmaceutical Version of Anatabine Compound
Date:11/7/2013

GLEN ALLEN, Va., Nov. 7, 2013 /PRNewswire/ -- Star Scientific, Inc. (NASDAQ: STSI) today announced that the Company has filed its preliminary proxy statement on Form 14A with the Securities and Exchange Commission in preparation for its December 27 annual shareholder meeting. The proxy statement outlines the Company's plan to accelerate the submission of an Investigational New Drug (IND) application to the FDA, with the assistance of a respected global contract research organization (CRO).  The Company intends to continue the expansion of its dietary supplement business as well, including the addition of a time-release version of its Anatabloc® dietary supplement.  The proxy statement proposes a shareholder vote for a transition in leadership in connection with this dual-track business plan.

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The Company believes it has reached a point of inflection following a management and board review of the progress of research on forms of anatabine, for which the Company holds several patents and has patents pending.  The Company's Chairman and the Chief Executive Officer both recommended to the Board that significant leadership changes are needed to better leverage opportunities in pharmaceutical development and FDA approval in the biotechnology space.  The Company intends, following the leadership transition, to accelerate plans for submission of an IND to the FDA and, with FDA guidance, to undertake appropriate Phase I/II clinical trials. 

The proposed transition process, outlined in the proxy statement for a vote by the Company's shareholders, centers on the election of five new board members and one current director.  Two of the proposed directors would then assume senior
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SOURCE Star Scientific, Inc.
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