HOUSTON and VANCOUVER, June 24, 2015 /CNW/ - ESSA Pharma Inc. ("ESSA" or
the "Company") (TSX-V: EPI) announced today that it has appointed Dr.
David Parkinson to its board of directors. Dr. Parkinson's appointment
as an independent director is effective immediately.
"We are delighted to have David join our board," stated Richard
Glickman, Chairman of the ESSA board of directors. "With his extensive
background in dealing with clinical and regulatory matters as well as
his experience in the pharmaceutical industry, David will bring an
invaluable perspective to our strategic decisions."
David R. Parkinson is a Venture Partner at New Enterprise Associates
("NEA"). From 2007 until 2012, Dr. Parkinson served as President and
CEO of Nodality, a South San Francisco-based biotechnology company
focused on the biological characterization of signaling pathways in
patients with malignancy to enable more effective therapeutics
development and clinical decision-making. Until October 2007, Dr.
Parkinson was Senior Vice President, Oncology Research and Development,
at Biogen Idec. At Biogen Idec he oversaw all oncology discovery
research efforts and the development of the oncology pipeline.
Previously he had served as Vice President, Oncology Development, at
Amgen and Vice President, Global Clinical Oncology Development, at
Novartis. During his tenures at Amgen and Novartis, Dr. Parkinson was
responsible for clinical development activities leading to a series of
successful global drug registrations for important cancer therapeutics,
including Gleevec, Femara, Zometa, Kepivance, and Vectibix.
Prior to joining industry, Dr. Parkinson worked at the National Cancer
Institute from 1990 to 1997, serving as Chief of the Investigational
Drug Branch, then as Acting Associate Director of the Cancer Therapy
Evaluation Program. Dr. Parkinson is a past Chairman of the Food & Drug
Administration ("FDA") Biologics Advisory Committee and is a recipient
of the FDA's Cody Medal. He has served on the National Cancer Policy
Forum of the Institute of Medicine and is a past co-chair of the Cancer
Steering Committee of the NIH Foundation Biomarkers Consortium. He has
also served as a member of the FDA's Science Board, as an elected
Director on the Board of Directors of the American Association of
Cancer Research, and as a Director on the Board of the Ontario
Institute for Cancer Research. He currently serves as a Board Director
for the Multiple Myeloma Research Foundation and as the Chairperson of
the American Association of Cancer Research ("AACR") Finance and Audit
Committee. Dr. Parkinson was formerly a Director of Facet Biotech,
Inc., a public biopharma company which was acquired by Abbott
Pharmaceuticals as well as a Board Director of Ambit Biosciences, a
public biopharma company recently acquired by Daiichi Sankyo. He
currently serves as Director on the Boards of Threshold Pharmaceuticals
and Cerulean Pharma Inc., public biopharma companies focused on the
discovery and development of anti-cancer drugs.
Dr. Parkinson received his medical degree from the University of
Toronto. He completed a Hematology Fellowship at Royal Victoria
Hospital at McGill University in Montreal and was a Research Fellow at
the New England Medical Center at Tufts University in Boston. He has
held academic positions both at Tufts and at the University of Texas MD
Anderson Cancer Center, and has authored over 100 peer-reviewed
About ESSA Pharma Inc.
ESSA Pharma Inc. is a development-stage pharmaceutical company focused
on a proprietary small molecule compound named EPI-506 as a treatment
for advanced prostate cancer. EPI-506 was designed to block a novel
target on the androgen receptor, the N-terminal domain. Inhibition of
the N- terminal domain of the androgen receptor has the potential to
block tumor growth after current hormone-therapy drugs have failed.
That potential has been demonstrated in well-accepted in vitro and in
vivo models that showed that EPI-506 inhibited proliferation and tumor
growth, respectively. The target patient population for EPI-506 -
metastatic castration resistant prostate cancer patients who have
failed current hormone therapies - represents the greatest unmet
medical need in this therapeutic area. Prostate cancer patients
eventually fail current hormone therapies. In its upcoming Phase 1/2
clinical trial, ESSA intends to demonstrate the effectiveness of
EPI-506 in treating prostate cancer patients who have failed
abiraterone or enzalutamide, the current standard-of-care drugs in
prostate cancer treatment.
About Prostate Cancer
Prostate cancer is the second-most commonly diagnosed cancer among men
and the fifth most common cause of male cancer death worldwide
(Globocan, 2012). Adenocarcinoma of the prostate is dependent on
androgen for tumour progression and depleting or blocking androgen
action has been a mainstay of hormonal treatment for over six decades.
Although tumours are often initially sensitive to medical or surgical
therapies that decrease levels of testosterone (for example, ADT),
disease progression despite castrate levels of testosterone generally
represents a transition to the lethal variant of the disease (mCRPC)
and most patients ultimately succumb to the illness. The treatment of
mCRPC patients has evolved rapidly over the past five years; despite
these advances, additional treatment options are needed to improve
clinical outcomes in patients, particularly those who fail existing
treatments including abiraterone or enzalutamide, or those that have
contraindications to receive those drugs. Over time, patients with
mCRPC generally experience continued disease progression, worsening
pain, leading to substantial morbidity and limited survival rates. In
both in vitro and in vivo studies, ESSA's novel approach to blocking
the androgen pathway has been shown to be effective in blocking tumour
growth when current therapies are no longer effective.
Forward-Looking Statement Disclaimer
This release contains certain information which, as presented,
constitutes "forward-looking information" within the meaning of
applicable Canadian securities laws. Forward-looking information
involves statements that relate to future events and often addresses
expected future business and financial performance, containing words
such as "anticipate", "believe", "plan", "estimate", "expect", and
"intend", statements that an action or event "may", "might", "could",
"should", or "will" be taken or occur, or other similar expressions and
includes, but is not limited to, statements about the implementation of
the Company's business model and strategic plans.
Forward-looking statements and information are subject to various known
and unknown risks and uncertainties, many of which are beyond the
ability of ESSA to control or predict, and which may cause ESSA's
actual results, performance or achievements to be materially different
from those expressed or implied thereby. Such statements reflect ESSA's
current views with respect to future events, are subject to risks and
uncertainties and are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by ESSA as of the date of
such statements, are inherently subject to significant medical,
scientific, business, economic, competitive, political and social
uncertainties and contingencies. In making forward looking statements,
ESSA may make various material assumptions, including but not limited
to (i) obtaining positive results of clinical trials; (ii) obtaining
regulatory approvals; and (iii) general business, market and economic
Forward-looking information is developed based on assumptions about such
risks, uncertainties and other factors set out herein and in ESSA's
prospectus dated December 5, 2014 under the heading "Risk Factors", a
copy of which is available on ESSA's profile at the SEDAR website at www.sedar.com, and as otherwise disclosed from time to time on ESSA's SEDAR profile.
Forward-looking statements are made based on management's beliefs,
estimates and opinions on the date that statements are made and ESSA
undertakes no obligation to update forward-looking statements if these
beliefs, estimates and opinions or other circumstances should change,
except as may be required by applicable Canadian securities laws.
Readers are cautioned against attributing undue certainty to
SOURCE ESSA Pharma Inc
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For further information:
CEO, ESSA Pharma Inc.
T: 778-331-0962; 832-831-5859