Celsus Therapeutics Names Allan Shaw to Board of Directors
NEW YORK and LONDON, Oct. 2, 2013 (GLOBE NEWSWIRE) -- Celsus Therapeutics
(OTCQB:CLSXY), an emerging growth, development-stage biopharmaceutical
company, announced today the addition of biopharmaceutical industry veteran
Allan Shaw to the Company's Board of Directors. Mr. Shaw will serve as
Chairman of the Audit Committee.
"We are pleased to have Allan join our Board of Directors and serve on the
Audit Committee," said Mark Cohen, Executive Chairman of the Board of
Directors of Celsus Therapeutics. "With over twenty-five years of demonstrated
success in financial management, corporate leadership and international
operations, Allan's experience further strengthens our Board and we look
forward to utilizing his unique expertise to aid in the next stage of
development of Celsus Therapeutics."
Mr. Shaw commented, "I am excited to join the Celsus Board and to have the
opportunity to help develop the Company's novel anti-inflammatory drug
candidates. I look forward to working with the Board to guide the Company and
shape its future."
Mr. Shaw currently leads Alvarez & Marsal's biopharmaceutical consulting
practice and served as a member of the Board of Directors for the Central New
York Biotech Accelerator (formerly Central New York-Biotech Research Center).
Previously, he worked as Chief Financial Officer and executive management
board member of Serono International S.A., a global biotechnology company and
the largest in Europe. He was also the founder and Senior Managing Director of
Shaw Strategic Capital LLC, an international financial advisory firm, focused
on providing strategic financial counsel on a wide variety of issues such as
general corporate finance, mergers and acquisitions, capital structuring,
licensing and capital markets. His clients included a biopharmaceutical
licensing / developmental group and an international investment bank, for
which he served as a strategic adviser.
Mr. Shaw has served as a Board member and Chief Financial Officer for NewLead
Holdings LTD (Nasdaq:NEWL), as well as an independent board member of Navios
Maritime Holdings Inc.'s, serving as Chairman for Navios' Audit (designated
financial expert) and Compensation Committees. He has contributed to several
corporate governance books and is a member of the American Institute of
Certified Public Accountants, New York Society of Certified Public Accountants
and Corporate Directors Group.
Mr. Shaw graduated with a Bachelor of Science from the State University of New
York (Oswego College), and is a certified public accountant in the State of
About Celsus Therapeutics Plc.
Celsus Therapeutics is an emerging clinical stage company focused on the
development of a new class of non-steroidal, synthetic anti-inflammatory drugs
termed Multi-Functional Anti-Inflammatory Drugs or MFAIDs. Celsus' MFAIDs
represent a new therapeutic platform for the treatment of a broad array of
inflammatory diseases, such as allergies and autoimmune diseases. Presently,
the Company has two lead drug candidates in its clinical pipeline, MRX-6, a
topical cream for contact dermatitis and MRX-4, a nasal spray for treating
allergic rhinitis (hay fever). Other potential treatments in preclinical
development include OPX-1 for ocular inflammation, CFX-1 for cystic fibrosis,
and MRX-5 for inflammatory bowel disease.
FORWARD-LOOKING STATEMENTS - This press release contains "forward-looking
statements" that involve known and unknown risks, uncertainties and other
factors that 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. In some cases, you can
identify forward-looking statements by terms including "anticipates,"
"believes," "could," "estimates," "expects," "intends," "may," "plans,"
"potential," "predicts," "projects," "should," "will," "would," "hope," "look
forward" and similar expressions intended to identify forward-looking
statements. Our actual results may differ materially and adversely from those
expressed in any forward-looking statements as a result of various factors and
uncertainties, including our ability to finance our operations, the future
success of our scientific studies, our ability to successfully develop drug
candidates, the timing for starting and completing clinical trials, rapid
technological change in our markets, and the enforcement of our intellectual
property rights. Our most recent Annual Report on Form 20-F discusses some of
the important risk factors that may affect our business, results of operations
and financial condition. Unless we are required to do so under applicable
laws, we do not intend to update or revise any forward-looking statements.
CONTACT: Investor Contact:
The Trout Group
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