AtheroNova Names New Director
Fred Knoll of Knoll Capital Management Joins the Board of Directors
IRVINE, Calif., Nov. 7, 2012
IRVINE, Calif., Nov. 7, 2012 /PRNewswire/ --AtheroNova Inc. (OTCBB: AHRO), a
biotech company focused on the research and development of compounds to safely
regress atherosclerotic plaque and improve lipid profiles in humans, today
announced that Fred Knoll, the principal and portfolio manager of Knoll
Capital Management, has been named to the Board of Directors of AtheroNova
"As a leading investment manager, Fred brings a wealth of knowledge in
emerging growth companies and will bring his expertise to our many
opportunities as we transition into the next phase of clinical development at
AtheroNova," stated Thomas W. Gardner, CEO of AtheroNova. "We welcome Fred to
our Board and look forward to working together as we develop AtheroNova's
atherosclerosis regression and lipid modulation technology."
Since 1987, Mr. Knoll has been the principal and portfolio manager at Knoll
Capital Management, an investment company managing funds over the last two
decades in areas such as emerging growth companies, restructurings and China.
During the 80's and early 90's, he was Chairman of the Board of Directors of
Telos Corporation, a computer systems integration company, served as
investment manager for General American Investors, was the United States
representative on investments in leveraged buyouts and venture capital for
Murray Johnstone, Ltd. of Glasgow, UK , and headed the New York investment
group of Robert Fleming, Inc., at the time, a leading United Kingdom merchant
bank subsequently acquired by JP Morgan, managing a venture capital fund and
the U.S. research team.
Mr. Knoll started his investment career as an investment analyst at Capital
Research (Capital Group) in the early 80s and held positions in sales and
marketing with Wang Inc. and Data General and software engineering with
Computer Sciences Corporation in the late 70s.
Mr. Knoll holds a Bachelor's of Science in Electrical Engineering and Computer
Science from Massachusetts Institute of Technology (M.I.T.), a Bachelor's of
Science in Management from the Sloan School at M.I.T., and a M.B.A. from
Columbia University in Finance and was a member of the Columbia University
International Fellows Program.
AtheroNova Inc., through its wholly-owned subsidiary, AtheroNova Operations,
Inc., is a biotechnology company focused on the discovery, research,
development and licensing of novel compounds to reduce or regress
atherosclerotic plaque deposits and to safely improve lipid profiles in
humans. In addition to its lead compound AHRO-001, AtheroNova plans to develop
multiple applications for its patents-pending therapies in market sectors that
include: Cardiovascular Disease, Stroke, Peripheral Artery Disease, Dementia
and Alzheimer's and Erectile Dysfunction, all of which have been linked to
atherosclerosis. Atherosclerosis and its related pharmaceutical expenses for
these indications cost consumers more than $41 billion annually in the United
States alone. For more information, please visit www.AtheroNova.com.
Except for historical information contained herein, the statements in this
release are forward-looking and made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are inherently unreliable and actual results may differ materially.
Examples of forward-looking statements in this news release include statements
regarding the value of Mr. Knoll's appointment to AtheroNova's board, and the
development of applications for AtheroNova's technology. Factors which could
cause actual results to differ materially from these forward-looking
statements include such factors as significant fluctuations in expenses
associated with clinical trials, failure to secure additional financing, the
inability to complete regulatory filings with the Food and Drug
Administration, the introduction of competing products, or management's
ability to attract and maintain qualified personnel necessary for the
development and commercialization of its planned products, and other
information that may be detailed from time to time in AtheroNova's filings
with the United States Securities and Exchange Commission. AtheroNova
undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or
SOURCE AtheroNova Inc.
Contact: Company: Thomas Gardner, CEO or Mark Selawski, CFO, +1-949-476-1100;
or Investors: Jeff Ramson, ProActive Capital Resources Group, +1-646-863-6341,
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