|By Marketwired .||
|May 22, 2014 12:22 AM EDT||
ALACHUA, FL--(Marketwired - May 22, 2014) - CTD Holdings, Inc., a distributor and manufacturer of cyclodextrin products including the orphan drug designated Trappsol® Cyclo™, (OTCQB: CTDH) announced that its Board of Directors voted to create the new positions of Vice Chairman and Lead Director. The Board, in the same May 16, 2014, meeting, then appointed N. Scott Fine to fill the new roles based on his long experience in the management, governance and capital markets activities of public corporations. Mr. Fine has been a Director of the Company since February 2014.
"I am delighted to welcome Scott Fine to an expanded role on the Board," said Rick Strattan, Chairman and CEO. "His broad experience in healthcare and consumer products as well as corporate management and capital markets complements our own expertise in the technical aspects of our business."
"I am delighted to be asked to play a key role in the next phase of the Company's growth story," Mr. Fine said. "I am committed to assisting Rick, the Board and the management team in any way I can."
The Company posted record product sales for 2013, reported strong first quarter 2014 sales and a strengthened cash position after two rounds of private equity placement. The Company's stated goals for 2014 are to move aggressively on the development of the orphan drug product, ramp up production of ultra pure cyclodextrin in its manufacturing facility, and grow sales in the specialty fine chemical division through enhanced eCommerce activities.
About the Company:
The CTD Holdings, Inc. Family of Companies distributes and manufactures the trademarked Trappsol® and Aquaplex® cyclodextrins, cyclodextrin derivatives, and cyclodextrin complexes for research, nutrition, cosmetic and medical markets. Sphingo Biotechnology, Inc. is developing Trappsol® Cyclo™, an orphan drug designated product, for the treatment of Niemann Pick Type C, a fatal genetic disease in young children. NanoSonic Products, Inc. operates the world's only cGMP pulse drying facility for the production of ultra-pure cyclodextrin derivatives and pharmaceutical grade Aquaplex® cyclodextrin complexes. CTD, Inc. supplies researchers around the globe from the world's largest catalog of cyclodextrins. The companies offer a wide variety of cyclodextrin related manufacturing services to worldwide customers, including custom formulation, manufacturing, and commercial scale supply of pharmaceutical grade cyclodextrin complexes. For additional information, visit the Company's websites: www.ctd-holdings.com and www.cyclodex.com
Safe Harbor Statement:
This press release contains "forward-looking statements" about the Company's current expectations about future results, performance, prospects and opportunities. Statements that are not historical facts, such as "anticipates," "believes" and "expects" or similar expressions, are forward-looking statements. These statements are subject to a number of risks, uncertainties and other factors that could cause actual results in future periods to differ materially from what is expressed in, or implied by, these statements. The factors which may influence the Company's future performance include the Company's ability to obtain additional capital to expand operations as planned, success in attracting additional customers and profitable contracts, and regulatory risks associated with producing food and pharmaceutical grade products. These and other risk factors are described from time to time in the Company's filings with the Securities and Exchange Commission, including, but not limited to, the Company's reports on Forms 10-K and 10-Q. Unless required by law, the Company assumes no obligation to update or revise any forward-looking statements as a result of new information or future events.