SOURCE: Viral Genetics, Inc.

March 19, 2008 08:00 ET

Marshall C. Phelps, Richard T. Gerstner and Anthony Freda, Jr. Join Viral Genetics, Inc. Business Advisory Board and Invest in Private Placement

AZUSA, CA--(Marketwire - March 19, 2008) - Viral Genetics, Inc. (PINKSHEETS: VRAL), a biotechnology company, announces that three veteran business executives and high-tech investors have joined as the founding members of the Company's business advisory board. This advisory group has been established as a vehicle for experienced business executives to assist and advise the Company in the development and commercialization of its technology. These newly appointed board members come to Viral Genetics at a pivotal time bringing over 90 years of Fortune 500 management, investment and intellectual property experience at Microsoft, IBM, Eaton Corp., Spencer Trask and other firms. Two of the founding individuals, Marshall C. Phelps and Richard M. Gerstner, also entered into private placement subscriptions with the Company.

Marshall C. Phelps, Jr. is currently Corporate Vice President for IP Policy and Strategy for Microsoft. In this position, Mr. Phelps is responsible for establishing global policy and strategy for Microsoft's intellectual property, and interfacing with governments and technology companies about intellectual property issues. During his tenure at Microsoft he has also overseen management of the company's trademark, copyright, patent, trade secret and related divisions. Prior to Microsoft, Mr. Phelps spent 28 years at IBM where he served as vice president for intellectual property and licensing. At IBM, Phelps oversaw the company's patent licensing program and intellectual property portfolio development amongst other things. In between IBM and Microsoft, Mr. Phelps spent two years as chairman and chief executive officer of Spencer Trask Intellectual Capital Company LLC, which specialized in spin-offs from major corporations such as Motorola Inc., Lockheed Martin Corp. and IBM. Phelps holds a Bachelor of Arts degree from Muskingum College, a Master of Science degree from Stanford Graduate School of Business and a doctorate from Cornell Law School. He is an Executive-in-Residence at the Fuqua School of Business at Duke University, and also serves on the Board of Visitors. He has also recently been asked to advise Japan's Ministry of Economy, Trade and Industry on IP matters and was elected to the initial class of the Intellectual Property Hall of Fame, in 2006.

Richard T. Gerstner joins Viral Genetics as an Advisor after a lifetime of executive management positions and investment in the technology arena. Gerstner spent several years as President and CEO of Telular Corporation, a wireless communication company he took public in the 1990s. Prior to that, he spent 32 years at IBM in several capacities including 10 years as a Corporate Vice President during which he served as Chief Planning Officer, Head of the Asia/Pacific region located in Tokyo and Group Executive of IBM Personal Computers, and most recently as head of IBM's PC Group. He is a director of various technology companies and is Chairman of the Advisory Committee to the Columbia Lyme and Tick-Borne Disease Research Center. Mr. Gerstner holds a BS in Chemical Engineering from Villanova University and an MS in Industrial Engineering from Stanford University.

Anthony Freda, Jr. comes to Viral Genetics after several decades in business development, engineering, and senior management roles. His career progressed from design engineering to management in the 1960s at Cutler Hammer, an electrical systems and engineering firm now owned by Eaton Corporation, a Fortune 500 electrical systems and engineering firm. While at Cutler Hammer, Mr. Freda ran the international systems business unit and was responsible for all aspects of the Air Traffic Control unit in 20 countries. He followed this with several corporate marketing positions at Telephonics Corp., a division of Griffon Corporation. In the 1990s, Mr. Freda held several corporate management positions at Telephonics including staff VP for strategic alliances. At the time of his retirement in 1998 he was the General Manager of the Electronic systems division. Mr. Freda received BS and MS degrees in electrical engineering from Villanova University and Polytechnic University of NY in the 1960s. He did his graduate work in business under a Beloit College program.

About Viral Genetics

Viral Genetics, Inc. is a biotechnology company that discovers and develops immune-based therapies for HIV and AIDS using its thymus nuclear protein compound (TNP). The company recently entered into an Exclusive License Agreement with the University of Colorado and V-Clip Pharmaceuticals (a subsidiary of the Company) to license technology developed by M. Karen Newell, PhD that appears to explain TNP and provide a means to optimize therapies based on TNP for future clinical trials. TNP may have other potential applications for other infectious, autoimmune, and immunological deficiency diseases that the company intends to study in the future. Viral Genetics believes that its investigational HIV/AIDS drug based on TNP, called VGV-1, represents a unique approach to treating HIV due to the apparently novel mechanism, low toxicity profile, simple dosing regimen, and short-course of treatment. As a type of immune-based therapy, it focuses on boosting the immune system to allow the body to fight HIV more efficiently. VGV-1 has been studied in five human clinical trials for the treatment of HIV / AIDS. Online at www.viralgenetics.com

This news release contains forward-looking statements that involve risks and uncertainties associated with financial projections, budgets, milestone timelines, clinical development, regulatory approvals, and other risks described by Viral Genetics, Inc. from time to time in its periodic reports filed with the SEC. VGV-1 is not approved by the US Food and Drug Administration or by any comparable regulatory agencies elsewhere in the world. While Viral Genetics believes that the forward-looking statements and underlying assumptions contained therein are reasonable, any of the assumptions could be inaccurate, including, but not limited to, the ability of Viral Genetics to establish the efficacy of VGV-1 in the treatment of any disease or health condition, the development of studies and strategies leading to commercialization of VGV-1 in the United States, the obtaining of funding required to carry out the development plan, the completion of studies and tests on time or at all, and the successful outcome of such studies or tests. Therefore, there can be no assurance that the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the forward-looking statements should not be regarded as a representation by Viral Genetics or any other person that the objectives and plans of Viral Genetics will be achieved.

Contact Information

  • For additional information, please contact:
    Viral Genetics
    626-334-5310