VANCOUVER, March 23 /CNW/ - Protox Therapeutics Inc. (TSX: PRX), a leader
in the development of receptor targeted fusion proteins, today announced that
John Parkinson has been appointed Chief Financial Officer of the Company,
effective immediately. Mr. Parkinson will replace David Swetlow, Vice
President of Finance and Operations, who is leaving Protox to pursue
entrepreneurial opportunities.
"John has proven leadership capabilities, business acumen and a track
record of successfully managing change and delivering profitable growth," said
Dr. Fahar Merchant, President and Chief Executive Officer of Protox. "His
wealth of knowledge and experience in the US and Canadian capital markets,
managing sizable partnership relationships, as well as his thorough
understanding of business operations, will provide tremendous depth to our
management team. John will play an essential role as we continue to advance
our business development strategies and broaden and strengthen our
relationships with the financial community. He also will be able to work from
the foundation built by David during his time with us, who we wish every
success in his new endeavor."
Mr. Parkinson has cross-industry experience in the management of high
growth, dynamic global companies. Previously, he was Vice President, Finance
at Aspreva Pharmaceuticals, a rapidly growing public company formed in 2003
and recently sold to a diversified European healthcare group for over $1
billion. He was a key factor in Aspreva's TSX and NASDAQ $100 million IPO in
2005, the largest in Canadian healthcare history. Mr. Parkinson co-chaired the
Joint Finance Committee with partner Hoffman-La Roche, which held the
responsibility for managing the financial elements of their $1.7 billion
annual revenue sharing and collaboration agreement. Previously, he focused on
financial, high-tech and public company practices during his 10 years with
KPMG. He is a member of the Audit and Finance Committee of VIATeC, (the
Vancouver Island Advanced Technology Society) and the Institute of Chartered
Accountants of British Columbia.
Mr. Parkinson is a graduate of the University of Saskatchewan where he
received a Bachelor of Commerce and Bachelor of Arts in Economics.
About Protox
Protox Therapeutics is a leader in advancing novel, receptor targeted
fusion proteins. Two novel drug candidates derived from the company's
INxin(TM) and PORxin(TM) platforms are being developed in three clinical
programs. Protox's lead program, PRX302 (PORxin), is currently being studied
in a Phase 2b placebo controlled trial to treat benign prostatic hyperplasia
(BPH or enlarged prostate). Final positive Phase 2a results treating BPH
patients were recently released and a phase 2a clinical trial evaluating
PRX302 for the treatment of localized prostate cancer is ongoing. A Phase 2a
clinical trial evaluating PRX321 (INxin) for the treatment of primary brain
cancer has been completed and the drug has received Fast Track Designation and
Orphan Drug Status from the US FDA and EMEA. Protox is also collaborating with
the U.S. National Institutes of Health (NIH) on a research program focused on
the discovery of next generation fully human targeted therapeutics.
Certain statements included in this press release may be considered
forward-looking. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results, performance or
achievements to be materially different from those implied by such statements,
and therefore these statements should not be read as guarantees of future
performance or results. All forward-looking statements are based on Protox'
current beliefs as well as assumptions made by and information currently
available to Protox and relate to, among other things, anticipated financial
performance, business prospects, strategies, regulatory developments, market
acceptance and future commitments. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
of this press release. Due to risks and uncertainties, including the risks and
uncertainties identified by Protox in its public securities filings; actual
events may differ materially from current expectations. Protox disclaims any
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
For further information: James Beesley, Senior Director, Investor
Relations, Protox Therapeutics, (604) 484-0975,
jbeesley@protoxtherapeutics.com; Michael Moore, Investor Relations, Equicom
Group, (416) 815-0700 x 241, mmoore@equicomgroup.com
