TAMPA, Fla. and SAN DIEGO, June 26,
2014 /PRNewswire/ -- HedgePath Pharmaceuticals, Inc.
(OTCQB: HPPI) a clinical stage biopharmaceutical company that
discovers, develops and plans to commercialize innovative
therapeutics for patients with cancer, announced today that
Stefan J. Cross, Dr. R. Dana Ono and W. Mark
Watson, CPA have been appointed to HPPI's board of
directors.
Mr. Cross, 41, is the President of the US subsidiary of Mayne
Pharma (ASX: MYX). Mr. Cross has more than 20 years of
experience in the pharmaceutical industry. Prior to his
current appointment, he served the Vice President, Business and
Corporate Development of Mayne Pharma's primary operating company,
where he was responsible for all in-licensing and out-licensing
programs and research and development partnerships. Through
HPPI's recently finalized Supply and License Agreement transactions
with Mayne Pharma Venture Pty Ltd, Mayne Pharma has the right to
appoint a member of HPPI's board of directors.
Dr. Ono, 61, is a co-founder and since 2000 has served as a
Venture Partner of the VIMAC Milestone Medica Fund LP, a
Boston-based early-stage life
sciences fund co-sponsored by VIMAC Ventures LLC and RBC Technology
Ventures, Inc. Dr. Ono has 30 years of experience in managing
public and private life science companies, including, from 1995 to
2000, serving as President and Chief Executive Officer of
IntraImmune Therapies, Inc., which was sold to Abgenix, Inc. in
2000.
Mr. Watson, 63, is a Certified Public Accountant with over 40
years experience in public accounting and auditing, having spent
his entire career at Deloitte Touche Tohmatsu and its predecessor,
most recently as Central Florida Marketplace Leader. He is
expected to serve as Chairman of the Audit Committee of HPPI's
board of directors.
In connection with these appointments, Nicholas J. Virca, HPPI's President and Chief
Executive Officer, who will report in his executive officer
capacities to the newly constituted board, has voluntarily resigned
his position as a board member.
"We are most grateful to have these three highly qualified
individuals join our board," stated Mr. Virca. "We believe
these new board members, together with our Executive Chairman
Frank O'Donnell and existing
independent board member Sam Sears,
provide HPPI with an excellent mix of professional expertise and
corporate governance experience as we move our clinical development
programs forward. I look forward to working with our new
board."
HPPI is presently working towards an anticipated 2014 filing of
an Investigational New Drug (IND) Application aimed at securing FDA
approval to begin a corporate-sponsored clinical trial with HPPI's
primary drug candidate, SUBA™-Itraconazole for the treatment of
basal cell carcinoma (BCC), and to commence and conduct such
trial. HPPI holds the exclusive U.S. rights to
SUBA-Itraconazole from Mayne Pharma for the treatment of
cancer. Mayne Pharma will also supply SUBA-Itraconazole for
HPPI's currently contemplated and future clinical trials.
About HedgePath Pharmaceuticals
HedgePath Pharmaceuticals, Inc. (OTCQB: HPPI) is a clinical
stage biopharmaceutical company that is seeking to repurpose the
FDA approved antifungal pharmaceutical itraconazole as a potential
treatment for cancer. HPPI is the exclusive U.S. licensee of
a patented formulation of itraconazole, called SUBA-Itraconazole,
which clinical studies have shown to have greater bioavailability
than generic itraconazole.
The Hedgehog signaling pathway is a major regulator of cellular
processes in vertebrates, including cell differentiation, tissue
polarity and cell proliferation. Based on published research,
HPPI believes that inhibiting the Hedgehog pathway could delay or
possibly prevent the development of certain cancers in
humans. Itraconazole has also been shown to exhibit
anti-angiogenic properties (inhibiting the formation of new blood
vessels in tumors) which can also impact the progression of certain
cancers. Leveraging research undertaken by key
investigators in the field, HPPI plans to explore the effectiveness
of SUBA-Itraconazole as a cancer inhibitor and to pursue its
potential commercialization. HPPI has offices in Tampa, Florida and San Diego, California. For more
information, please visit www.hedgepathpharma.com.
Cautionary Note Regarding Forward Looking Statements
This press release and any statements of representatives and
partners of HedgePath Pharmaceuticals, Inc. (the "Company") related
thereto contain, or may contain, among other things, certain
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such
forward-looking statements involve significant risks and
uncertainties. Such statements may include, without
limitation, statements with respect to the Company's plans,
objectives, projections, expectations and intentions and other
statements identified by words such as "projects," "may," "will,"
"could," "would," "should," "believes," "expects," "anticipates,"
"estimates," "intends," "plans," "potential" or similar
expressions. These statements are based upon the current
beliefs and expectations of the Company's management and are
subject to significant risks and uncertainties, including those
detailed in the Company's filings with the Securities and Exchange
Commission. Actual results (including, without limitation,
the timing for and results of the Company's anticipated clinical
trials) may differ significantly from those set forth in the
forward-looking statements. These forward-looking statements
involve certain risks and uncertainties that are subject to change
based on various factors (many of which are beyond the Company's
control). The Company undertakes no obligation to publicly
update any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
applicable law.
For more information:
Company Contact:
HedgePath Pharmaceuticals, Inc.,
Nicholas J. Virca, President and
CEO, 813-864-2559, nvirca@hedgepathpharma.com.
Investor Relations:
HedgePath Pharmaceuticals, Inc.,
Garrison Hasara, CFO and Treasurer,
813-864-2560, ghasara@hedgepathpharma.com
© 2014 HedgePath Pharmaceuticals, Inc. All rights
reserved.
SOURCE HedgePath Pharmaceuticals, Inc.
