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Rafarma Adds Prestigious New Board Chairman Ilia Shpurov

Rafarma Pharmaceuticals, Inc. (OTC: RAFA) is pleased to announce the appointment of Ilia Shpurov as Chairman of the Board. Mr. Shpurov has a long history of technological developments, patents and entrepreneurial achievements in biotech. Most recently Mr. Shpurov purchased Kraspharma ( in 2008 and has built it into one of the top pharmaceutical companies in Russia. Mr. Shpurov also created the Pereslavsky Group technology park in 2004. It is now the largest technology park in Russia in terms of residents and size (4 square kilometers of land and 560,000 meters in building space). Mr. Shpurov is also Vice President of the International Congress of Industrialists and Entrepreneurs ( .

Mr. Shpurov brings unique experience to the board of directors and is a well-known businessman throughout Europe. His expertise in pharmaceutical growth will power Rafarma toward its goals of worldwide growth and profitability.

Vladimir Dolgolenko CEO of Rafarma stated “we are very excited Mr. Shpurov has joined the board. His expertise, knowledge, reputation and resources will prove invaluable to the company in the coming months and years. We are extremely excited for the opportunities he brings to the company moving forward.”

Forward-Looking Statements:
This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may”, “will”, “to”, “plan”, “expect”, “believe”, “anticipate”, “intend”, “could”, “would”, “estimate,” or “continue”, or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risk, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with OTC Markets. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

SOURCE: Rafarma Pharmaceuticals, Inc.


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