HedgePath Pharmaceuticals Welcomes Three New Board Members
Stefan Cross, Dr. Dana Ono and Mark Watson add significant biotechnology,
capital markets and public accounting expertise to HPPI's board of directors
TAMPA, Fla. and SAN DIEGO, June 26, 2014
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. Crosshas 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
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
"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
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:
HedgePath Pharmaceuticals, Inc., Nicholas J. Virca, President and CEO,
HedgePath Pharmaceuticals, Inc., Garrison Hasara, CFO and Treasurer,
© 2014 HedgePath Pharmaceuticals, Inc. All rights reserved.
SOURCE HedgePath Pharmaceuticals, Inc.
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