PURCHASE, N.Y., Apr 11, 2005 (BUSINESS WIRE) -- Nutrition 21, Inc. (NXXI), the leading developer and marketer of chromium-based nutritional supplements, today announced that John L. Cassis has joined the Company's Board of Directors. He succeeds Robert Pollack, who has stepped down as a director after many years of exemplary service.
Mr. Cassis is a founding partner of Cross Atlantic Partners, Inc., a private equity firm that invested $3 million in the company's recently announced financing.
John Gutfreund, Senior Advisor of C.E. Unterberg, Towbin and Chairman of the Nutrition 21 board, commented, "It is a pleasure to welcome John Cassis to Nutrition 21's Board of Directors. He has over 30 years of hands-on experience helping emerging organizations reach their potential. His guidance in strategic planning and deep business relationships in the healthcare industry will be assets to Nutrition 21. We look forward to his involvement as we focus on building greater value for our shareholders."
Cassis commented, "Nutrition 21 is uniquely positioned to participate in an emerging nutrition market with significant growth potential based on sound scientific data and patents surrounding its chromium formulations."
Cross Atlantic Partners is a private equity firm that invests in later-stage life science, medical, and nutraceutical companies. Before founding Cross Atlantic, Mr. Cassis headed Salomon Brothers Venture Capital and founded the J&J Development Corporation, Johnson & Johnson's venture capital arm. He is a director of Medivance Inc., Galt Associates Inc., Eximias Pharmaceutical Corp., and Medco Health Solutions. Mr. Cassis received his Bachelor of Arts from Harvard University and his MBA from the Harvard Business School.
About Nutrition 21, Inc.
Nutrition 21 is a nutritional bioscience company and the maker of chromium-based supplements with health benefits substantiated by clinical research. The company markets Chromax(R) chromium picolinate, which is the most-studied form of the essential mineral chromium. Nutrition 21 also developed Diachrome(R), which is available through diabetes educators or at www.diachrome.com. Nutrition 21 holds 36 patents for nutrition products and uses, 27 of which are for chromium compounds and their uses. More information is available at www.nutrition21.com.
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