LecTec
Corporation Press Release
LecTec
Corporation
1407
South Kings Highway
Texarkana,
Texas 75501
Contact: Bill
Johnson, Controller (903-832-0993)
LecTec Corporation Appoints
Sanford Brink to Board of Directors
July 23, 2009 - - Texarkana, Texas -
LecTec Corporation (OTCBB: LECT) announced today that Sanford M. Brink
has been appointed to LecTec’s Board of Directors. Mr. Brink, 69, is
currently the president of New Dimensions in Stone, an investment and real
estate development company that Mr. Brink has owned for the past 15
years. Prior to his tenure at New Dimensions in Stone, Mr. Brink
spent 15 years as a stockbroker specializing in the health care
area. Mr. Brink has been an active investor and venture capitalist
since the early 1960s. Mr. Brink is the father–in–law of Daniel C.
Sigg, M.D., PhD., who is a current member of the Board.
“Sandy Brink is a major shareholder of
LecTec. He has significant experience in the financial markets and venture
financing which may prove useful to LecTec. The Board welcomes Sandy and looks
forward to working with him,” said Judd Berlin, Chief Executive Officer of
LecTec Corporation.
About
LecTec Corporation
LecTec
Corporation is an intellectual property licensing and holding company. The
Company's primary focus is to derive royalty and other income from patents that
the Company owns based on its advanced skin interface technologies. The Company
was an innovator in hydrogel-based topical delivery of therapeutic
over-the-counter medications, which provide alternatives to topical creams and
ointments. A hydrogel is a gel-like material having an affinity for water and
similar compounds. These gels are ideal for delivering medication onto the skin.
The Company holds multiple domestic and international patents on its hydrogel
technology.
Cautionary
Statements
This press release contains
forward-looking statements concerning possible or anticipated future
results of operations or business developments which are typically preceded by
the words “believes,” “wants,” “expects,” “anticipates,” “intends,” “will,”
“may,” “should,” or similar expressions. Such forward-looking
statements are subject to risks and uncertainties, which could cause results or
developments to differ materially from those, indicated in the forward-looking
statements. Such risks and uncertainties include, but are not limited
to, the Company’s dependence on royalty payments from Novartis Consumer Health,
Inc., which recently re-launched an adult vapor patch licensed by the Company,
the Company’s dependence on key personnel and Board of Director members, the
Company’s pending patent infringement litigation against Chattem, Inc.
(NASDAQ:CHTT), Endo Pharmaceuticals, Inc.(NASDAQ:ENDP), Johnson & Johnson
Consumer Company, Inc., a subsidiary of Johnson & Johnson (NYSE:JNJ), and
Prince of Peace Enterprises, Inc., the issuance of new accounting
pronouncements, the availability of opportunities for licensing agreements
related to patents that the Company holds, limitations on market expansion
opportunities, and other risks and uncertainties detailed from time to time in
the Company’s filings with the Securities and Exchange Commission, and
particularly as described in the “Risk Factors” included in our Form 10-K for
the year ended December 31, 2008.
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