Phytoceuticals Ltd. elects Stephen Rietiker, M.D., as chairman of the board
ZURICH--(BUSINESS WIRE)--Phytoceuticals Ltd. announced today that it has elected Stephen Rietiker, M.D., as the Company's first outside chairman of the board.
Dr. Rietiker is chairman of the investment platform, AurigaVision. Since 2005, he has served as a Senior Advisor to Brown Brothers Harriman's medical technology M&A advisory practice focused on European, privately held companies. In addition, he is Chairman of RepRegenTM and has served as a Director of a number of developmental-stage medtech companies. Previously, he was CEO of Sulzer Medica (later Centerpulse), responsible for restructuring the company, which led to its acquisition by Zimmer in 2003. He qualified as a medical doctor at the Medical School of the University of Zurich in 1982 and then spent five years in medical practice before moving into the healthcare industry. Dr. Rietiker began his business career with Roche in 1987 and held various positions with increasing responsibility in marketing and general management with Boehringer Mannheim and Schering-Plough before becoming VP/GM Europe for Covance Central Laboratory Services.
"No doubt, Stephen will play a major role in helping us position Phytoceuticals as a strong partner to pharmaceutical companies that wish to expand into, and dominate, certain sectors of the dermatology market, such as wound healing," said Eduardo Theiler, CEO. "We expect Stephen to have an immediate and positive effect on our commercialization efforts with pharmaceutical companies."
"Phytoceuticals is developing medicines based on natural extracts that enjoy patent protection," said Dr. Stephen Rietiker. "Equally important, Phytoceuticals is establishing reliable raw material sourcing and is therefore able to tap into the global pharmaceutical market-thus becoming an interesting pipeline candidate for big pharmaceutical companies. This is the strategy Phytoceuticals is pursuing on a product-by-product basis. I am very excited to be a part of this significant opportunity."
About Phytoceuticals Ltd.
Phytoceuticals is a life science company that develops intellectual property from natural product extracts, defines scientifically sound development protocols, manages product development, and then seeks exit options for these developed medicines. The Company's current focus is to develop first-in-class solutions for major indications in dermatology. Upon receiving product registration, Phytoceuticals aims at partnering with global companies for product distribution in order to maximize the potential reach and revenue for the product.
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