VANCOUVER, Feb. 13, 2018 /CNW/ - Novelogics Biotechnology, Inc. announced today that the Company has appointed Mr. Scott D. Cormack to its Board of Directors. Mr. Cormack is an accomplished board member, executive and venture capitalist with almost three decades of experience in the biotechnology industry. Having served in executive positions for public and private life sciences companies, Mr. Cormack adds deep experience in the design and implementation of strategic growth plans, including mergers and acquisitions.
"We are excited to bring world-class pharmaceutical leadership to our Board of Directors as we position Novelogics for the next level of corporate growth," said Dr. Wayne Cheney, President and Chief Scientific Officer of Novelogics. "Scott's strategic and financial business acumen will serve us well as we progress towards our goal of advancing our product candidate into clinical development and seek to maximize the value of our program."
Mr. Cormack has seventeen years of board service with multiple companies and organizations, including experience as the Chairman of the Board. He also has seventeen years of CEO experience in four companies, including 8 years as a public company CEO. He was a co-founder of three biotechnology companies and has negotiated and completed multiple M&A transactions, dozens of strategic partner and licensing agreements and has raised hundreds of millions of equity capital through public and private transactions. Mr. Cormack currently serves on the Board of Directors of Achieve Life Sciences, Inc. (NASDAQ: ACHV), The Vancouver Prostate Centre at Vancouver General Hospital, and The Prostate Centre's Translation Research Initiative for Accelerated Discovery and Development. Mr. Cormack holds a B.S. degree from the University of Alberta.
About Novelogics Biotechnology, Inc.
Novelogics Biotechnology Inc. is a Vancouver, Canada-based, privately-held corporation dedicated to developing innovative cancer immunotherapy treatments that harness the power of the immune system. Its product candidate is designed to overcome key strategies that are used by cancer cells to evade the immune system and that also induce unwanted immune suppression. The drug target of Novelogics' product candidate is found in blood cancers and solid tumors, as well as other significant diseases, which offers the opportunity to develop a treatment with broad therapeutic potential.
Novelogics' immunotherapy strategy focuses on the development of antibody drugs that could dramatically challenge the status quo on current approaches in the exciting field of immuno-oncology.