SOURCE: The BioBalance Corporation

October 03, 2005 14:59 ET

The BioBalance Corporation Announces New Management Position

NEW YORK, NY -- (MARKET WIRE) -- October 3, 2005 -- The BioBalance Corporation ("BioBalance"), a wholly owned subsidiary of New York Health Care, Inc (OTC BB: BBAL) announced today that Edward A. Lemmo, Ph.D. has joined BioBalance as Vice President of New Product Development, a new position created to advance the testing and clinical development of the NexGen Bacillus technology which BioBalance licensed in 2003.

Dr. Lemmo brings to BioBalance over 30 years of broad experience in product development. Since 1999, he has been the Vice President of Global Scientific Affairs & Product Development at Wyeth Consumer Healthcare. Prior to Wyeth, Dr. Lemmo was Director of Nutritional Science at GNC. Earlier in his career, he was employed at ICN Pharmaceuticals, Pall Biomedical Products and Pharmacia. Dr. Lemmo received his BS in Chemistry from St. Francis College in Brooklyn, NY and his MS and Ph.D. in Nutrition from Rutgers University. From 1977 to 2002, he was an Adjunct Professor at various colleges within the tri-state region including New York University, University of New Haven, University of Bridgeport, Rutgers University, Montclair State University, Middlesex College and St. Vincent Catholic Medical Centers School of Nursing.

Dennis O'Donnell, President & CEO of New York Health Care and BioBalance, said, "We are pleased to have someone of Ed's caliber join our firm. In addition to the NexGen product, Ed will assist me in evaluating new product opportunities for licensing or acquisition to expand the Company's pipeline."

About New York Health Care and The BioBalance Corporation

Acquired by New York Health Care in January 2003, BioBalance operates as a wholly owned subsidiary. The Company's common stock trades under the symbol BBAL.OB. BioBalance, a development stage specialty pharmaceutical firm, is focused on the development of patented biotherapeutic agents for gastrointestinal disorders that are poorly addressed by current therapies via accelerated regulatory pathways. These disorders include pouchitis, Irritable Bowel Syndrome (IBS), inflammatory bowel disease and diarrhea caused by antibiotics, chemotherapy or AIDS. Additional information is located on the BioBalance website at www.thebiobalancecorp.com.

SAFE HARBOR STATEMENT: In addition to historical information, certain of the statements in the preceding paragraphs, particularly those anticipating future events, financial performance, business prospects and growth and operating strategies constitute forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as anticipate, believe, estimate, expect, intend, predict, hope or similar expressions. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described in the forward-looking statements, including, without limitation, satisfaction of regulatory and other approvals and conditions necessary to market PROBACTRIX, the company's ability to implement its strategies and achieve its objectives and the risks and uncertainties described in reports filed by the company with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, including without limitation, the risk factors set forth and cautionary statements made in New York Health Care's 2004 Annual Report on Form 10-Kas amended, its latest quarterly report on Form 10-Q and current reports on Form 8-K.

Consulting For Strategic Growth I, Ltd. ("CFSG") provides The BioBalance Corporation with consulting, business advisory, investor relations, public relations and corporate development services, for which CFSG receives a fixed monthly fee for the duration of the agreement. Independent of CFSG's receipt of cash compensation from BioBalance, CFSG may choose to purchase the common stock of New York Health Care, Inc. and thereafter sell those shares at any time it deems appropriate to do so.

Contact Information

  • CONTACTS:
    Dennis O'Donnell
    New York Health Care, Inc.
    Tel: (212) 679-7778
    Fax: (212) 679-7774
    Email Contact

    Stanley Wunderlich
    Consulting For Strategic Growth
    Tel: (800) 625-2236
    Fax: (212) 337-8089
    Email: Email Contact