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Xechem International Announces Hiring of a Managing Director for Xechem Pharmaceuticals Nigeria
Monday December 18, 12:41 pm ET NEW BRUNSWICK, N.J.--(BUSINESS WIRE)--Xechem International, Inc. (OTC BB: XKEM - News) today announced that it has appointed Mr. Iretiolu Oniyide Managing Director of its Xechem Pharmaceuticals Nigeria Ltd. subsidiary. Mr. Oniyide, born in Nigeria and currently a resident of the United States, was selected for his high-level experience in pharmaceuticals, banking and government after an exhaustive, international search. He will relocate to Nigeria to head up this critical operation.  |
Dr. Ramesh Pandey, Chairman and CEO of Xechem International, stated, "We are very pleased with Mr. Oniyide's decision to take on this key position for Xechem Nigeria as we prepare for full-scale production of NICOSAN(TM), our groundbreaking new treatment for Sickle Cell Disease, at our new Abuja manufacturing facility. He brings a wealth of experience from a 30-year distinguished career in banking and pharmaceuticals, including three years as Chief Operating Officer of a pharmaceutical start-up company. He brings the necessary tools for the hard work ahead of us, with a unique vision, creativity and understanding of the plight of the 4 million Sickle Cell patients in Nigeria. "Besides his strong background working with multinational corporations, their boards and officers on a wide range of disciplines including management, operations, finance, lending and business consulting, Mr. Oniyide is a former gubernatorial candidate in Nigeria who understands the intricate workings of industry and government necessary to bring our NICOSAN(TM) product from the small scale stage to mass production. He will be taking over from Col. Bhuwan Pandey, Vice President of Xechem International Operations, who has magnificently shepherded the NICOSAN(TM) project and Xechem Nigeria in Abuja since the inception of this project in 2002." Mr. Oniyide holds a B.Sc. in Economics and International Business from New York University and an MBA in International Business from Adelphi University. Mr. Oniyide said, "I am excited about the prospects of this challenging position, bringing a complex pharmaceutical product to full scale production. More importantly, it provides me a unique opportunity to give back to my community and provide a much needed product to end the suffering of many of my fellow citizens. I hope to live up to the high standards established by Col. Bhuwan Pandey." Xechem Nigeria is presently engaged in small scale production of NICOSAN(TM), the first new product in decades to successfully treat the symptoms of Sickle Cell Disease. According to Dr. Pandey, "The expansion of our facility for the manufacture and delivery of NICOSAN(TM) to the millions of needy sufferers in Nigeria is our first and foremost directive". Professor Soji Adelaja, John A. Hannah Distinguished Professor and Director of the Land Policy Institute at Michigan State University and Xechem International and Xechem Nigeria Board member, said, "Ireti is a seasoned leader who will bring much needed leadership to this new phase of Xechem Nigeria's evolution. The Company is doing everything in its power to organize the resources to put in place a full scale production facility and Ireti's background in the financial industry will help tremendously," Dr. Adelaja continued and said: "Raising the funds from the international community for a Nigerian-based operation designed primarily to service the Nigerian market is subject to all the challenges of the marketplace, but we are determined to make this vision a reality." Nigeria's Minister of Health, Professor Eyitayo Lambo, said, "We are very supportive of the efforts of Xechem Nigeria to move from a small scale to a full scale production facility, which once completed, will provide hope for millions of Sickle Cell sufferers. We welcome the addition of Mr. Oniyide as Managing Director. He brings an intimate knowledge of the community and pharmaceuticals to Xechem Nigeria." Nigeria's Minister of Science and Technology, Dr. Turner Isoun, stated, "We are all proud of Xechem Nigeria, particularly of Dr. Ramesh Pandey, who has developed the necessary state-of-the-art facilities in the Science Village, SHESTCO, Abuja, to bring NICOSAN(TM), a phytopharmaceutical product from natural plant extracts found in Nigeria, to combat Sickle Cell Disease, one of the most debilitating diseases on the continent and throughout the world." About Xechem Xechem International is a development stage biopharmaceutical company working on Sickle Cell Disease (SCD), diabetes, cancer, malaria, antibacterial, antifungal and antiviral (including AIDS) products from natural sources, including microbial and marine organisms. Its focus is on the development of phyto-pharmaceuticals (natural herbal drugs) and other proprietary technologies, including those used in the treatment of orphan diseases. Xechem's mission is to bring relief to the millions of people who suffer from these diseases. Its recent focus and resources have been directed primarily toward the development and launch of NICOSAN(TM) (to be marketed as HEMOXIN(TM) in the US and Europe). With Nigerian regulatory approval now in hand, Xechem is now working on the commercialization of the drug in Nigeria and the pursuit of US FDA and European regulatory approval. In addition to NICOSAN(TM), Xechem is also working on another Sickle Cell compound, 5-HMF, which it has licensed from Virginia Commonwealth University.
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