SAN DIEGO, CA--(Marketwire - Sep 6, 2012) - Sol Barer, Ph.D., founder and former Chairman of the Board of S&P 500 Company Celgene, has joined the Strategic Advisory Board of BillMyParents, Inc. (OTCQB: BMPI) -- the Responsible Teen Spending Company. The appointment is effective immediately.
"Dr. Barer brings over 30 years' experience in shaping and nurturing a brand to enormous global success," said Mike McCoy, Chairman and Chief Executive Officer of BillMyParents. "His experience with Celgene is very impressive, helping guide the company's phenomenal growth, leading to product expansion into over 70 countries. His point of view will be immensely valuable as we push forward in the teen payments solutions space."
For the past 25 years, Dr. Barer dedicated himself to growing Celgene, a spinoff from Celanese Research Company, into one of the largest biotechnology companies in the world. Celgene became a member of the S&P 500 in 2006, and has a current market capitalization of more than $28 billion. During his tenure, he served in multiple key leadership positions including President, Chief Executive Officer, Chairman of the Board of Directors, and Executive Chairman.
"The addition of Dr. Barer to our Strategic Advisory Board brings us another step closer to fulfilling my quest to surround BillMyParents with a world-class team that will help guide us to national prominence," continued Mike McCoy.
Today, Dr. Barer serves as the Chairman for ContraFect, Cerecor and InspireMD, and is on the Boards of Aegerion, Amicus Therapeutics and Edge Therapeutics. He is on the Board of Trustees of Rutgers University, as well as the Liberty Science Center and the Tourette Syndrome Association. He was also a Commissioner of the NJ Commission on Science and Technology.
"BillMyParents is at an exciting and critical juncture in their development," said Dr. Barer. "With their focus on helping parents better prepare their teens for a healthy financial future, they are uniquely positioned in the vigorously growing prepaid market. I am looking forward to working with the BillMyParents team and being a part of the company's progression."
Highly decorated and holding numerous professional awards, Dr. Barer has been honored with the "Lifetime Achievement Award" from the International Myeloma Foundation, the "Master Entrepreneur Award" from Ernst & Young, and the "Hall of Distinguished Alumni Award" from Rutgers University Alumni Federation, just to name a few. He was named one of "The 50 Most Powerful People in N.J. Health Care" in 2012, and inducted into the NJBiz Hall of Fame in 2011.
For more information, please visit: www.BillMyParents.com
BillMyParents, Inc. (OTCQB: BMPI), the Responsible Teen Spending Company, offers a solution for parents who want to help their teens develop smart spending habits. The BillMyParents SpendSmart MasterCard card is the instantly trackable, reloadable MasterCard prepaid card that lets parents and teens track spending in real time. Features include the ability to instantly lock, unlock and reload the card at any time; text alerts to parents and teens showing real-time transaction details with each purchase; and the freedom and security of a MasterCard prepaid card without the risk of overdrafts, accruing debt or affecting credit scores. BillMyParents provides parents with a modern way to help teach their teens financial responsibility, when it counts. For more information, please visit www.BillMyParents.com.
The BillMyParents SpendSmart MasterCard card is issued by University National Bank, member FDIC, pursuant to license by MasterCard International Incorporated. MasterCard is a registered trademark of MasterCard International Incorporated.
Certain statements contained in this press release are "forward-looking statements" within the meaning of federal securities laws, including, without limitation, anything relating or referring to future financial results and planned business activities. Such statements are inherently subject to risks and uncertainties, which include, without limitation, those in Company reports filed with the SEC. The Company can give no assurance that such expectations will prove correct. Future events and actual results could differ materially from those statements.