VANCOUVER, March 27 /CNW/ - Protox(TM) Therapeutics Inc. (TSX-V:PRX)
announced today that Leonard Cox has resigned as the company's Chief Financial
Officer to pursue other opportunities and that David Swetlow has joined the
company as Vice President, Finance and Operations.
Dr. Fahar Merchant, President and CEO of Protox, said, "We are very
appreciative of Leonard's contribution over the past two years and wish him
well in his future endeavours. We are also delighted to welcome David Swetlow
to the Protox team. David brings to Protox broad experience in establishing
and managing financial and operational systems for later stage life sciences
companies and in carrying out public company financings. His experience will
undoubtedly prove to be a considerable asset to Protox as we continue to grow
Mr. Swetlow brings over 15 years of senior financial management
experience to Protox encompassing public and emerging companies within the
life sciences and technology sectors. He served as Senior Director, Finance at
QLT Inc. where he played key roles in QLT's financings, including the
record-setting $200 million equity offering. While at QLT, Mr. Swetlow was
instrumental in building infrastructure to support late stage clinical trials
and the explosive growth leading up to the approval and launch of the Visudyne
ophthalmic drug. He will be joining Protox from Sxip Identity where he
currently serves as Vice President, Finance. Mr. Swetlow obtained his CA
designation while working for Deloitte & Touche and holds a Bachelor of
Business Administration from Simon Fraser University.
Protox Therapeutics is a leader in advancing novel, targeted protein
toxin therapeutics for treatment of cancer and other proliferative diseases.
The company is actively developing two distinct but complementary platforms,
INxin(TM) and PORxin, and currently has three clinical programs in
development. A Phase IIa clinical trial into the use of 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. In addition, a
Phase I trial has been completed for PRX321 to treat patients with renal cell
carcinoma and non-small cell lung cancer. Patient enrolment is underway for a
Phase I clinical study into the use of PRX302 (PORxin) to treat localized
prostate cancer. PRX302 has also been approved by Health Canada to commence a
Phase I clinical study for the treatment of benign prostatic hyperplasia.
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS
RELEASE. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
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:
For further information: James Beesley, Director, Investor Relations,
Protox Therapeutics, (604) 688-0199, firstname.lastname@example.org; Michael
Moore, Investor Relations, Equicom Group, (416) 815-0700 x 241,