Adeona Appoints C. Evan Ballantyne CFO: Ann Arbor-based Adeona Pharmaceuticals Inc. (NYSE Amex: AEN), a developer of synthetic DNA-based therapeutics and innovative disease-modifying medicines for serious illnesses, announced that C. Evan Ballantyne has joined the company as CFO. In this position, Ballantyne will be responsible for all aspects of the company’s financial, accounting and investor relations functions. From 2006 until its acquisition in April 2011, Ballantyne served as executive vice president and CFO of Clinical Data Inc., a publicly traded biopharmaceutical company which was acquired by Forest Laboratories Inc. for $1.3 billion. While at Clinical Data, Ballantyne was instrumental in leading corporate financings totaling approximately $220 million as well as a number of acquisition and divestitures totaling $116 million. Ballantyne has also seved as CFO of a number of private medical technology companies, including Avedro and ZymeQuest. Earlier in his career, Ballantyne served as vice president and COO for ACNielsen Europe Middle East & Africa and held the CFO position as well for two years. There, he was responsible for all aspects of operations, strategic planning and finance in more than 45 countries for a corporation with 9,700 employees. He also helped lead the company’s successful ISO certification process. Ballantyne began his career at the Dun & Bradstreet Corp. where he held several senior financial positions. Ballantyne earned a B.A. from the University of Western Ontario, and took a post-graduate degree in Business Administration with Honors from the University of Windsor. Adeona is a biotechnology company focused on the development of synthetic DNA-based therapeutics and innovative disease-modifying medicines for serious illnesses. Adeona is developing, or has partnered the development of, product candidates to treat pulmonary arterial hypertension, relapses in multiple sclerosis, cognitive dysfunction in multiple sclerosis, fibromyalgia and amyotrophic lateral sclerosis (ALS). For more information, visit www.adeonapharma.com. In December 2011, Adeona announced that the Board of Directors had taken several actions to prioritize the company’s focus on its recent entry into the emerging field of synthetic biologics. As a result of its new primary focus, the board approved a proposed name change of the company to Synthetic Biologics, Inc., to better reflect its new mission and primary business. The name change is subject to stockholder approval.
Billhighway Welcomes John Schelske as Chief Operating Officer: Troy-based Billhighway, the cloud-based financial system for organizations, has brought on top talent to their executive board, John Schelske, as COO. Schelske will be responsible for all operational departments including finance, human resources, client relations, and is charged with maintaining Billhighway’s over 96 percent client retention rate. Previously, Schelske led the education division and managed key client relationships for New World Systems. He also served as a partner at Deloitte in their consulting practice providing operations and information technology services to clients, specialized in middle market clients including not-for-profits. Billhighway is the cloud-based platform that helps nonprofits and associations manage their finances by automating all areas of their financial lifecycle. Billhighway is the pioneer in bringing payment processing, online banking and accounting together in one transparent system to improve operational efficiency and financial performance. Since forming in 1999, Billhighway has processed more than $5 billion in client transactions, maintains over 96 percent in client loyalty and has been recognized by numerous organizations. To learn more about Billhighway, visit www.billhighway.com.