CURAXIS PHARMACEUTICAL CORP 
By RALEIGH, N.C., Nov. 7, 2011 (GLOBE NEWSWIRE) -- Timothy R. Wright, Chairman and Interim Chief Executive Officer of Curaxis Pharmaceutical Corporation ("Curaxis" or the "Company') (OTCQB:CURX), announced today that the new management team and newly installed board of directors (the "Board") will be meeting with the Company's shareholders this week. The Company has scheduled its annual shareholders' meeting to be held in Cary, North Carolina on Tuesday, November 8, 2011. Not only is this the first shareholders' meeting for the Company but it is also the first opportunity for the Board to meet with its shareholder base.
On June 27, 2011, the Company announced changes to the Board and its executive management team to better position the Company for its next phase of growth and development. Specifically, two executive officers and co-founders of the Company resigned along with three independent directors. Six new directors were appointed to the Board and Mr. Wright was appointed as the Interim Chief Executive Officer. The new Board has a wealth of experience and comprehensive knowledge of life sciences, operations and strategic management in the area of pharmaceuticals. In addition, the newly appointed Board members have significant experience in the necessary industry arenas to execute the Company's business plan on an accelerated basis.
Mr. Wright commented, saying, "Aside from dealing with transitional items, the new leadership team has been working diligently since June on advancing the Company's therapeutic platform in clinical trials and firming up our intellectual property position. We believe that a partner company with neuroscience depth could leverage and capitalize on our existing and completed preclinical and clinical work in Alzheimer's. Our efforts are focused on finding a strong development partner. Alzheimer's disease continues to be one of the world's largest unmet medical needs and we are optimistic that our therapeutic platform could modify the progression of the disease in diagnosed patients and also complement current symptomatic treatments available."
About Curaxis Pharmaceutical Corporation
Curaxis is an emerging specialty pharmaceutical company with a hormone drug product candidate for the treatment of Alzheimer's disease and multiple cancers. Curaxis' therapeutic platform is based on the hypothesis that many diseases of aging may be caused by age-related changes in the function of the hypothalamic-pituitary-gonadal (HPG) axis. The HPG axis is a hormonal endocrine feedback loop that controls development, reproduction and aging in animals. This drug development platform is built on the premise that hormones associated with this feedback loop are beneficial early in life, when they promote growth and development, but are harmful later in life when the mechanism for feedback is compromised, thereby leading to disease processes, including pathologies associated with Alzheimer's disease.
Forward Looking Statements
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
CONTACT: CURAXIS Pharmaceutical Corporation
Contact: Judith S. T. Geaslen
Email: jgeaslen@curaxispharma.com
