ANN ARBOR, Mich., Nov. 2, 2011 /PRNewswire/ -- Adeona Pharmaceuticals, Inc. (NYSE Amex: AEN), is pleased to announce the appointment of Jeff Riley, to serve as its independent, non-executive Chairman of the Board. Mr. Riley has served on the Company's Board of Directors since March of 2010, and will continue to serve on the Audit and Nominations Committees. James S. Kuo, M.D., M.B.A., will continue to serve as Adeona's Chief Executive Officer, President and as a member of the Board.
Mr. Riley has more than 20 years of experience in the biotechnology and pharmaceutical industries during which he negotiated numerous worldwide strategic corporate alliances, established joint ventures, and assisted in obtaining venture financings to support product development. Currently, Mr. Riley is Managing Director of 526 Ventures, a life science-focused consulting firm with a commercial and transactional focus. He sits on the advisory boards of an Australia-based venture fund (Queensland Biocapital Fund) and Ruga Corporation. Mr. Riley has held senior corporate and commercial development positions with several biotech companies and his pharmaceutical experience includes commercial management and mergers and acquisition roles for Pfizer, SmithKline Beecham and Citibank-Brazil at both the corporate level as well as in Latin America, southern Africa and Turkey. Additionally, he served as CFO and VP Corporate Development for Nichols Institute Diagnostics. Mr. Riley holds a Bachelor of Science in International Relations/Biology and participated in a dual-degree graduate program, MBA/MIM, sponsored by Arizona State University and the Thunderbird School of Global Management.
"We congratulate Jeff on his appointment as independent Chairman of the Adeona Board. This important step further strengthens Adeona's corporate governance practices," stated Dr. Kuo. "Jeff's prior experience as a board member and senior management team member in the biotechnology and pharmaceutical sectors will be instrumental in guiding our business development, financial and strategic development initiatives."