ORLANDO, Fla. and DUBLIN, Jan. 21,
2015 /PRNewswire/ -- Immune Therapeutics, Inc. (OTC:BB
IMUN), a specialty pharmaceutical company involved in the
manufacture, commercialization, distribution and marketing of
novel, patented therapies to combat chronic, life-threatening
diseases through the activation and modulation of the body's immune
system, today announced that Vincent
Butta, a new director appointed to fill a vacancy, and
Edward Teraskiewicz, a director
elected at the 2014 Annual Meeting of Shareholders, joined the
Board on January 13, 2015.
Ms. Noreen Griffin, Chief
Executive Officer of Immune Therapeutics, stated, "We are very
excited to bring on these new board members as this allows us to
begin to make the changes we promised at our annual
meeting. We believe these people bring the changes necessary
to advance the company to the next level."
Vincent Butta was appointed by
the Board of Directors on January 13,
2015 to fill a vacancy on the Board. Mr. Butta is a
visionary executive business leader with a 30-year track record in
Operations, Executive Management, Technology, Supply Chain
Management, Marketing, Sales Management, Brand Creation, Licensing,
Digital and Social Media, and Strategic Planning.
Mr. Butta while President effectively rescued ADC (a worldwide
in-store marketing, manufacturing and distribution operation
employing 400 people), growing the company from $2 million in negative EBIT to over $117 million in sales and $17 million in EBIT in 4 years. ADC became the
largest in-store POP marketing company in the US with over 500,000
square feet of dedicated FDA approved manufacturing and
distribution assets employing 400 people worldwide.
Mr. Butta was instrumental in the creation and roll out of
Sephora stores worldwide, the launch and roll out of key OTC switch
products for Pfizer, Novartis, J&J, Smith Kline, Warner Lambert, and others as well as the
creation and roll out of over 60 new health and wellness products
including beauty/skincare/cosmetic brands.
Mr. Butta has launched over 400 consumer products for companies
such as P&G, J&J, Reebok, Revlon, L'Oreal, SK, Gillette,
Pepsi and many others. As CEO of Superstock, he helped build and
operate one of the largest digital stock photography sales and
on-line web distribution companies.
Mr. Butta was responsible for reinventing the beauty category
for Target Stores; resulting in a 12% department sales increase
with a revamp of the beauty department. While Executive Vice
President for Steve & Barry's, he created and launched apparel
and accessory brands Bitten by Sara Jessica
Parker, Starbury by Stephon
Marbury, Dear by Amanda Bynes
and other celeb based apparel lines. Mr. Butta secured over 450
licensing agreements with actors/celebrities, global brands and
sports figures and developed product lines that grew Steve &
Barry's retail business from $260
Million to $700+ million in 4 years.
Highlights in Mr. Butta's professional background include:
As Chief Executive Officer and Director of EMT (a mobile
technology platform), Mr. Butta led the turn around and pivot of
the company, a complete revamp of operations, the reposition of the
technology to include intelligence, marketing, research and
promotion and managed the implementation of several key
acquisitions.
As President of Dashing Diva, a global spa franchise, Mr. Butta
helped create, launch and rollout the high end franchised spa
concept into the global markets as well as strategic department
store and specialty store distribution. The roll out included
creation of a freestanding store concept, a full line of nail and
beauty products, mini and pop up store environments, global
distribution, and US/global franchising.
Mr. Butta holds a Bachelor of Arts in Marketing and Advertising
from Pepperdine University.
"Having survived prostate cancer and seeing the incredible
benefits of LDN and the overall business model and focus the Immune
Therapeutics team has put together, I am very excited to both help
the business fulfill its goals and be a part of its growth and
success going forward," said Mr. Butta. "To be able to build a
business and at the same time help people with very serious
diseases is a great honor and pleasure."
Edward Teraskiewicz was elected
to the Board of Directors at the 2014 Annual Meeting of
Shareholders and accepted this election, and commenced his role as
a director, on January 13,
2015.
Mr. Teraskiewicz has over 35 years of financial services
experience. From 1992 to 2004, Mr. Teraskiewicz was 50% owner
Co-Founder, Chief Executive Officer and Director of Prebon Yamane
International Limited, one of the world's preeminent money
brokerage firms, with over 1700 employees in 17 cities around the
world with revenue over $500,000,000
annually. Mr. Teraskiewicz, having retired from daily
operations at the end of 1994, continued his involvement with
Prebon Yamane as a member of the Board of Directors of Fulton
Prebon Group U.K., the holding company which owns the money
brokerage business, until October
2004, at which time he resigned from the Board upon a merger
with Collins, Steward, Tullett.
Since 2004, Mr. Teraskiewicz has been overseeing and managing
various residential real estate development projects and has been
an investor in numerous other projects in the music and financial
industry.
Mr. Teraskiewicz is a graduate of the American Institute of
Banking, having commenced his career as a trainee at Citibank in
1964. In 1970, he joined Mabon, Nugent & Co., a New York
Stock Exchange member firm, where he advanced to the rank of Senior
General Partner. Mr. Teraskiewicz is an experienced investor,
having developed several residential subdivisions and luxury estate
home projects in the US, as well as pursuing other transactions
around the world.
"It is with great pleasure that I am joining this Board in so
far as I believe that Low Dose Naltrexone is a wonderful compound,
and am excited to be at the forefront of LDN being made available
worldwide," said Mr. Teraskiewicz. "I personally take LDN and look
forward to our educating the world about the benefits of using LDN,
MENK and other products and therapies that we will be providing in
the near future. These products, besides benefitting people, should
also bring revenue opportunities to the bottom line of the company
as we go forward."
Two of the Board members elected at the 2014 Annual Meeting of
Shareholders, Roger Bozarth and
Joel Yanowitz, will not join the
Board in January as agreed as Immune Therapeutics has not yet
purchased D&O insurance; however, the company expects that Mr.
Bozarth will work with the company in an advisory capacity.
Jay Goldstein, a director that was
also elected at the 2014 Annual Meeting, was unable to accept his
election to the Board as a new position taken by Mr. Goldstein
limits his ability to take outside board seats.
About Immune Therapeutics, Inc.
We are a biotechnology company working to combat chronic,
life-threatening diseases through the activation and modulation of
the body's immune system using our patented immunotherapy. Our
products and immunotherapy technologies are designed to harness the
power of the immune system to improve the treatment of cancer,
infections such as HIV/AIDS, chronic inflammatory diseases, and
autoimmune diseases.
Our proprietary technology, therapies and patents include the
treatment of a wide range of cancers. Our most advanced clinical
programs involve immunotherapy with met-enkephalin (MENK)
(sometimes referred to as opioid growth factor) and our Low Dose
Naltrexone product (LDN) or Lodonal™, which have been shown to
stimulate the immune system even in patients with advanced
cancer.
Even though management considers any condition that results in
altered-immune response a target for investigation, we will most
likely pursue additional investigations for MENK and LDN as
valuable candidates in the treatment of autoimmune states such as
rheumatoid arthritis and multiple sclerosis; as an adjunct in
cancer patients undergoing chemotherapy, radiation treatments or
surgery; and as a complement to antibiotics in the treatment of a
variety of infectious diseases, including patients with HIV/AIDS,
in combination with retroviral drug therapy.
About Airmed Biopharma Limited
Airmed Biopharma Limited, our Irish subsidiary, is our
pharmaceutical sales division and is responsible for servicing
sales orders for Lodonal™ in countries where we have received sales
approval in Latin America and
Africa.
About TNI BioTech International, Ltd.
TNI BioTech International, Ltd., a BVI company and our
subsidiary, is responsible for managing our international
distribution.
About Cytocom Inc.
Cytocom Inc. is a biotechnology company that will initially
focus on developing LDN (Lodonal™) and MENK in the investigation of
unmet medical needs in the areas of oncological and inflammatory
diseases.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release and the statements of our management,
representatives and partners and our subsidiaries related thereto
include various "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, which
represent our expectations or beliefs concerning future events.
Statements containing expressions such as "plan," "project,"
"potential," "seek," "may," "will," "expect," "believe,"
"anticipate," "intend," "could," "estimate" or "continue" used in
this press releases and in our filings with the Securities and
Exchange Commission as well as Disclosure Statements and Reports
filed with the Over The Counter Markets through the OTC Disclosure
and News Service are intended to identify forward-looking
statements. All forward-looking statements involve assumptions and
significant risks and uncertainties. Readers are cautioned that
certain important factors may affect our actual results and could
cause such results to differ materially from any forward-looking
statements that may be made in this news release, and thus readers
are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date thereof. Actual results
may differ significantly from those set forth in the
forward-looking statements. We undertake no obligation to publicly
release any revisions to such forward-looking statements to reflect
events or circumstances after the date hereof.
For further information, please see
http://www.tnibiotech.com
Contact: Dennis S. Dobson
President and CEO
Dobson Media Group and
International Investor Relations Services Inc.
203-258-0159
www.dobsonmediagroup.com
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SOURCE Immune Therapeutics, Inc.