Innovus Pharma Expands Management Team and Adds Acting General Counsel and
Vice President of Finance
LA JOLLA, Calif., Sept. 19, 2013 (GLOBE NEWSWIRE) -- Innovus Pharmaceuticals,
Inc., ("Innovus Pharma") www.innovuspharma.com (OTCBB:INNV) today announced
that Randy Berholtz was appointed as Acting General Counsel of the Company, an
expansion to his previously appointed position as Secretary, and Lynnette
Dillen has joined the Company as Vice President of Finance. Ms. Dillen will be
responsible for administrative, financial, and risk management of the company.
"Innovus Pharma is extremely pleased to expand Mr. Berholtz's responsibilities
with the Company," said Dr. Bassam Damaj."His legal expertise and experience
will prove invaluable as we carry out our plans for additional acquisitions,
commercial partnerships for our products and continued growth."
Mr. Berholtz joined Innovus Pharma as our Secretary in July 2013. He is the
former Executive Vice President, General Counsel and Secretary of Apricus
Biosciences, Inc., a specialty pharmaceutical company.Prior to that time, he
was the Vice President, General Counsel and Secretary of ACON Laboratories,
Inc., a group of Chinese and US life sciences companies.He has also been the
Chief Operating Officer and General Counsel of IngleWood Ventures, L.P., a
life sciences venture capital company and the Interim General Counsel and
Secretary of Nanogen, Inc., a genomics tools company.
"Additionally the Company is excited to welcomeLynnette Dillen as VP of
Finance," said Dr.Bassam Damaj, President and Chief Executive Officer."Her
knowledge of the industry and familiarity with our business structure will
allow her to be a key player as part of Innovus Pharma's management team."
Ms. Dillen is a seasoned financial executive with 20 years of experience
encompassing multiple industries.She has held key financial positions for
both large public corporations including Blockbuster and Chart House
Enterprises as well as medium to smaller venture capital or investment-backed
companies, such as Wireless Knowledge, Inc. (a QUALCOMMand Microsoft joint
venture), and Catalina Restaurant Group, Inc.Most recently, she has been
working as a CFO with both public and private equity backed companies in the
process of raising equity either for start-up or next stage growth.
About Innovus Pharmaceuticals, Inc.
Innovus Pharma, headquartered in La Jolla, California, is an emerging
pharmaceuticals company that delivers innovative and uniquely presented and
packaged health solutions through its over-the-counter medicines and consumer
and health products.
For more information, go to www.innovuspharma.com.
INNOVUS PHARMA'S FORWARD-LOOKING Safe Harbor
Statements under the Private Securities Litigation Reform Act, as amended:
with the exception of the historical information contained in this release,
the matters described herein contain forward-looking statements that involve
risks and uncertainties that may individually or mutually impact the matters
herein described for a variety of reasons that are outside the control of the
Company, including, but not limited to, receiving patent protection for any of
its products, to be receive approval or meet the requirements of any relevant
regulatory authority, to successfully commercialize such products and to
achieve its other development, commercialization and financial. Readers are
cautioned not to place undue reliance on these forward-looking statements as
actual results could differ materially from the forward-looking statements
contained herein. Readers are urged to read the risk factors set forth in the
Company's most recent annual report on Form 10-K, subsequent quarterly reports
filed on Form 10-Q and other filings made with the SEC. Copies of these
reports are available from the SEC's website or without charge from the
CONTACT: Innovus Pharma Contact:
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