LITTLETON, Colo. & CLEARWATER, Fla., May 10, 2010 (BUSINESS WIRE) -- Pico-Tesla, the Magneceutical(TM) company, announced today that it has elected Francis Bellido, Ph.D., as its first outside director, effective immediately.
Dr. Bellido has more than 25 years of international experience in the life sciences and finance industries, holding several top executive positions in both small and large companies. Most recently, he was President and Chief Operating Officer at Supratek Pharma, a pharmaceutical company specializing in the development of cancer drugs. Prior to Supratek Pharma, Dr. Bellido was President and Chief Executive Officer of SGF-Sante, where he managed a $500M health science investment portfolio. Earlier in his career, Dr. Bellido held several executive positions with Eli Lilly in the United States and Europe, including Strategic Asset Director, Global Business Unit Manager, and Head of Regulatory Affairs. He holds a master's degree in pharmaceutical sciences and a doctorate in medical microbiology from the University of Geneva in Switzerland, and an MBA degree from the University of Montreal. In addition, Dr. Bellido has held the position of Invited Professor at the School of Management of the University of Quebec in Montreal.
"We are extremely pleased to announce the election of Dr. Bellido as the Company's first outside director," said Allen Braswell, CEO of Pico-Tesla. "With his significant experience and considerable achievements, Dr. Bellido will be an invaluable resource to Pico-Tesla as the Company evolves its Magneceutical(TM) therapies for Parkinson's Disease and type 2 diabetes." The purpose of the Company's ongoing Phase III clinical trial is to demonstrate the efficacy of Magneceutical(TM) Therapy as an adjunctive therapy to improving aspects of health and quality of life that are relevant to patients with Parkinson's Disease. Pico-Tesla intends to submit the Phase III data and analysis via a 510(k) de novo application to obtain FDA clearance to sell the device in the United States. The Phase III clinical trial was designed by principal investigator Rajeev Kumar, M.D., a movement disorder specialist and medical director of the Colorado Neurological Institute Movement Disorder Center, Englewood, Colo.
Pico-Tesla also has been enrolling patients in a randomized, double-blinded, placebo-controlled Pilot Study of persons who have type 2 diabetes, the most common form of diabetes. The Pilot Study seeks to determine whether the application of magnetic fields generated by the Company's patented Resonator(TM) system can be effective as an adjunctive therapy to oral medications in reducing hemoglobin A1c levels. The protocol for the Pilot Study was developed in consultation with Michael McDermott, M.D., Director, Endocrinology and Diabetes Practice, University of Colorado Health Science Center, Aurora, Colo.; and with Mitchell Gershten, M.D., an internist and staff physician at Saint Mary's Hospital in Grand Junction, Colo.
Pico-Tesla's Magneceutical(TM) Therapy involves the use of an extremely low-level electromagnetic field (EMF) applied by a specially designed device--the Resonator(TM), invented by Dr. Jerry I. Jacobson, along with proprietary therapeutic protocols--intended to improve a number of the signs and symptoms of Parkinson's and other diseases, including type 2 diabetes.
Privately held Pico-Tesla Magnetic Therapies is an emerging medical technology company with operations at: 7852 South Elati, Suite #202, Littleton, CO 80120 (303-795-3222); and, 4700 140th Avenue North, Suite #101, Clearwater, FL 33762.
Additionally, given that Pico-Tesla is a Limited Liability Company, its Directors are formally known as "managers", and the terms are used interchangeably.
CAUTION: The Resonator(TM) device is an Investigational Device limited by federal (or United States) law to investigational use. The Resonator(TM) device is not for sale, nor is the Magneceutical(TM) Therapy generally available outside of Investigational Review Board (IRB)- approved clinical studies.
SOURCE: Pico-Tesla Magnetic Therapies CONTACT: Ronald Trahan Associates Inc. Ronald Trahan, APR, 508-359-4005, x108 Copyright Business Wire 2010 -0- KEYWORD: United States
Florida INDUSTRY KEYWORD: Energy
Science SUBJECT CODE: Personnel