Montgomery, TX -- (ReleaseWire) -- 01/19/2017 --AngioSoma, Inc., (OTCQB:SOAN) today announced Kenneth Stevenson, who previously had agreed to accept the position of President and Chief Executive Officer (CEO) has since withdrawn from his agreement and resigned all positions. This was a mutual decision and the company wishes him the best of luck. Additionally, the shareholder dividend which was erroneously stated as "forward stock split" announced on December 21, 2016, to become effective on January 16, 2017, has been indefinitely postponed. The company's management feels that any change in the total and outstanding shares might be disadvantageous to the company's shareholders now.
The company's previously announced joint venture partner, La Jolla Capital Partners, LLC are working closely with us to close its search for a "big Pharma" partner who can assist in the introduction of Liprostin™, the company's signature pharmaceutical for treatment of peripheral artery disease (PAD).
For pharmaceutical stabilization of PAD, Liprostin™ our liposomal encapsulated prostaglandin e1 (PGE1) product for treatment of peripheral artery disease ("PAD") completed preliminary U.S. Food and Drug Administration ("FDA") required Phase I and Phase II clinical trials successfully and is entering Phase III for final market approval. Our AngioSoma Research, Inc. subsidiary also owns the OmniCath™I & II plaque debulking and vessel remodeling atherectomy catheter with our PGE1 coated vascular stents which will further support the stabilization of patients experiencing coronary artery ischemia or critical limb ischemic symptoms.
For long-term preventative measures, our Transdermal PGE-1 Patch will provide ongoing treatment for chronic cardiovascular disease by delivery of PGE-1 or Liprostin™ through the skin. In all, we have a robust product pipeline from 20+ years of research and development, with 20 existing patents, newly filed patents, drug formulations, and trademarks based on the "prior art" of previously successful patents and products.
Finally, the company is pleased to announce the appointment of Dale Greenwald as President of our new subsidiary, Soma Nutraceuticals, Inc. Dale is a certified exercise physiologist who works closely with the University of Colorado, Boulder. "Soma" has an array of all-natural dietary products which aims to provide all-natural early anti-inflammatory, blood thinning, and anti-clotting dietary supplements, as either stand alone or adjuncts to pharmaceutical care alongside its fitness and anti-aging supplements.
NOTICE REGARDING FORWARD LOOKING STATEMENTS
This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, and other factors that may cause the actual results, performance, or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success is no guarantee of success.
This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
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