Advanced Biotherapy Concepts Inc. Names Alexander L.Cappello to its Board of Directors.
Business Editors
WOODLAND HILLS, Calif.--(BUSINESS WIRE)--May 8, 2000
Advanced Biotherapy Concepts Inc. (OTCBB:ADVB), today announced that Alexander L. Cappello, chairman and chief executive officer, Cappello Group Inc., has been appointed to the company's board of directors.
"As an investment banker, active in merchant banking, project finance and venture capital since 1975, Cappello will help guide the company's business and capitalization strategies as we step up our clinical trials and pursue collaborative relationships," stated Edmond Buccellato, ADVB's CEO.
"Mr. Cappello and his firm have been investors and advisors to a number of successful publicly traded pharmaceutical and biotechnology companies. We are not only pleased, but fortunate to attract someone of his caliber, experience and reputation in the financial community."
Cappello noted: "Given the recent advances in antibody technology for the treatment of autoimmune diseases, coupled with the company's patents, patents pending, clinical data, and our history in financing and advising biotechnology companies, ADVB represents one of the most significant potential opportunities we have seen in the biotechnology area in years. We are cautiously optimistic about its potential in this area of medical treatment."
ADVB is developing, and has patented, proprietary treatments for a range of autoimmune diseases, which have now been evaluated in approximately 150 patients. These treatments neutralize certain cytokines that are now confirmed to play a major role in a variety of autoimmune diseases including rheumatoid arthritis, multiple sclerosis, diabetes and systemic lupus erythematosus. The company is in the process of evaluating financing alternatives in preparation for further clinical studies that are required to commercialize its product.
Cappello Capital Corp., ADVB's investment banker, is a boutique investment bank specializing in the private placement of institutional equity capital and strategic advisory services to high-growth publicly traded companies. Cappello Capital Corp.'s investors include some of the world's largest index and mutual funds, high-growth and small-cap funds, investment banks, commercial and merchant banks and hedge funds.
The firm was ranked 5th in the world as lead underwriters of convertible preferred securities between 1995 and 1998 by Thompson Financial Securities Data. Cappello Capital Corp. is the licensed Broker-Dealer associated with Cappello Group Inc., which is a merchant banking company that primarily takes positions as a principal investor and strategic advisor to high-growth technology companies.
Statements made in this news release, other than statements of historical fact, are forward-looking statements and are subject to a number of uncertainties that could cause actual results to differ materially from the statements made, including risks associated with the success of clinical trials, the progress of research and product development programs, the regulatory approval process, competitive products, future capital requirements and the extent and breadth of the company's patent portfolio. See the company's public filings with the Securities and Exchange Commission for information about risks that may affect the company.
