September 6, 2013 Rich Pharmaceuticals Appoints David Chou, Ph.D to CMC Director and Board Member
Beverly Hills, Calif., September 6, 2013 (NEWSWIRE) – RICH PHARMACEUTICALS, INC. (OTC BB: RCHA), a leader in the discovery and development of therapeutic treatments for acute myelogenous leukemia and stroke, today announced David Chou, Ph.D. has joined the company as CMC Director and appointed to the Board by Mr. Chang, CEO Chairman of the Board of Rich Pharmaceuticals, Inc., The sole director expanded the number of Board of Directors to two (2) members and appointed David Chou, Ph.D., as a director to fill the vacancy. Mr. Chou is a pharmaceutical development expert with more than 25 years of experience and he has led numerous development projects from pre-clinical evaluation stage to product commercialization. Prior to joining Rich Pharmaceuticals, Mr. Chou was the Chief Product Development Officer at Biosuccess Biotech where he led the product development and manufacturing activities for various indications. Before his career with Biosuccess Biotech, Mr. Chou was the Head of CMC (a Vice President level position) at SBIO, Inc. from 2010 to 2012. While at SBIO, he managed the technical development of 4 clinical stage products and made significant contributions to the success of product out-licensing deals with a total value of more than $500 million. From 1998 to 2010, Mr. Chou held director level positions in pharmaceutical development fields at various biopharmaceutical companies including Neurobiological Technologies, PharmaEngine, Oculex and SUGEN and his development portfolios included Sutent® currently marketed by Pfizer and OZURDEX® marketed by Allergan. Prior to his biotech career, Mr. Chou held various management positions at Hoffmann La-Roche for more than 12 years. At Roche, his development team contributed and submitted more than 20 INDs and 6 full NDAs including marketed products such as Xeloda® (Capecitabine), Xenical® (Orlistat) and Hivid® (Zalcitabine). Mr. Chou received a Ph.D. degree in Chemistry from the City University of New York. In connection with his appointment, the Company granted Mr. Chou options to purchase up to 9,600 shares of Company common stock at an exercise price of $8.00 per share, 50% of which are vested on the date of grant, and 50% of which will vest monthly over 24 months of continued services to the Company. The Board of Directors of the Company also approved entering into a one year employment agreement with Mr. Chou for his appointment as the CMC Director of the Company with an annual salary of $180,000, to commence effective upon the Company and Mr. Chou entering into the employment agreement About RICH Rich Pharmaceuticals is a biopharmaceutical company focused on the development of its lead product, TPA (12-O- tetradecanoylphorbol-13-acetate), for the treatment of acute myelogenous leukemia (AML) in refractory patients, and the reversal of physical disabilities resulting from stroke. The basis for the interest of the Company to pursue clinical development of TPA in these and possibly other indications is the result of the work of two scientists, Prof. Richard Chang and Prof. Zhang Tao Han. Both have conducted research on TPA for many years and have become experts in the characteristics of this molecule. Their findings form the scientific basis for the clinical use of TPA. .More detailed information can be found at www.RichPharmaceuticals.com. Forward-Looking Statements Certain statements contained in this press release including, but not limited to, statements related to anticipated timing of completion of clinical trials, the successful outcome of clinical trials, regulatory approval of unapproved product candidates, anticipated commercial success of currently unapproved products, or that otherwise relate to future periods are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions that may not prove accurate, and actual results could differ materially from those anticipated due to certain risks inherent in the biotechnology industry and for companies engaged in the development of new products in a regulated market. Potential risks to RICH meeting these expectations are described in more detail in RICH's most recent filing on Form 10-K and in other SEC filings. Consider such risks carefully when considering RICH's prospects. Any forward-looking statement in this press release represents RICH's views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. RICH PHARMACEUTICALS, INC. disclaims any obligation to update any forward-looking statement, except as required by applicable law. Investor Contact: Joseph Huffman, Finance Director 424-230-7001 Ext. 110 [email protected] Source: RICH Pharmaceuticals, Inc.
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