SOURCE: Industrial Biotechnology Corp.

March 22, 2007 10:07 ET

Biotechnology and Chemical Industry Expert, Larry Drumm, Joins Industrial Biotechnology Corporation's Scientific Advisory Board and Business Development Team

SARASOTA, FL -- (MARKET WIRE) -- March 22, 2007 -- Industrial Biotechnology Corporation (PINKSHEETS: IBTY) (IBC), a company dedicated to new biotechnologies and innovations in the chemical industry, today announced that Larry E. Drumm, a veteran biotechnology and chemical industry expert, has accepted a position on IBC's Scientific Advisory Board as well as new business development consulting. Mr. Drumm, who has a substantial history of successfully developing bio-industry sales, marketing and new business development initiatives, will be responsible for enhancing IBC's industry-partnering strategy and assisting in developing new relationships for bio-development sales.

Mr. Drumm has been a two-time president of the Commercial Development Association (the Chemical Industry's Premier Organization for Technology Commercialization), a former member the Board of the Biotechnology Industry Organization's Industrial and Environmental Section, and past organizer for the Chemical Industry CTO Summit on Biotechnology co-sponsored by The American Chemical Society and BIO.

In his professional career, he has held various positions with Eastman Chemical Products Inc., Eastman Kodak Company, Genencor International, a DuPont/ConAgra Joint Venture, Bio-Technical Resources and with MBI International. These positions ranged from sales representative to interim president with a heavy concentration in developing business for the respective companies.

Larry holds an M.B.A. from the University of Hartford and a B.S. in Chemical Engineering from the University of Cincinnati.

"IBC has an excellent opportunity to make a major impact upon the biotechnology marketplace. Their biotechnologies, scientific team and current partners are quite impressive. It will be a pleasure to assist them in reaching success," said Larry E. Drumm.

About Industrial Biotechnology Corporation

Industrial Biotechnology Corporation (IBC) enables the biological production of chemicals through a combination of licensed patents, intellectual property and proprietary systems. We accomplish this through our ALCHEMx™ Productions Platforms, which are a systematic, streamlined approach to biologically manufacture chemicals more efficiently, at significantly lower costs, and with substantially lower environmental impact than traditional methods. IBC and its partners plan to produce and market new and established biologically produced chemicals to the pharmaceutical, bio-energy, agricultural, biopesticides, fine chemicals, flavors and fragrances, cosmeceuticals, biomaterials and biopolymer industries. For more information about Industrial Biotechnology Corporation, please visit its website at

Forward-Looking Statements

Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words such as "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe Industrial Biotechnology Corporation's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of Industrial Biotechnology Corporation, as appropriate, which could cause actual results to differ materially from those currently anticipated. Although Industrial Biotechnology Corporation believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, they cannot give any assurance that their expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and Industrial Biotechnology Corporation does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Contact Information

  • Contact:
    Investor Relations
    Industrial Biotechnology Corporation
    2033 Main Street
    Sarasota, FL 34237
    941-925-2500 phone
    941-925-2503 fax