SCOTTSDALE, AZ--(Marketwire - 01/08/10) - Apthera, Inc. ("Apthera") today announced the appointments of Dr. Mark W. Schwartz to the position of President and Chief Executive Officer and Mr. Edward L. Jacobs to the Apthera Board as an independent director. Apthera also appointed Dr. Schwartz to the Board.
As President and CEO, Dr. Schwartz's primary responsibilities are to lead the Company's fundraising and partnering efforts and accelerate its product development activities. "We are very pleased to bring Dr. Schwartz onto the Apthera team. Mark brings to Apthera a proven track record of raising institutional capital and forming collaborative product development partnerships. Our objective will be to accelerate the development of Apthera's lead product, NeuVax?, an active specific immunotherapy for early-stage breast cancer," said Ira Z. Leiderman, Chairman of Apthera.
"I am excited to be appointed Apthera's President and CEO. Apthera represents a rare opportunity with its late-stage clinical program targeting women with triple-negative breast cancer. The FDA has accepted Apthera's Phase III Special Protocol Assessment (SPA) for NeuVax and the Company is entering discussions for a corporate partnership to fund this pivotal stage of clinical development," said Dr. Schwartz.
Edward Jacobs presently serves as the President and CEO of Ascalon International, Inc., a private oncology product development company. "We are excited that Mr. Jacobs has joined the Apthera board. Ed has spent his career in the field of oncology from the business side and brings to Apthera significant industry contacts and deal making expertise," stated Robert Kennedy, Chief Financial Officer.
Apthera, Inc. is a privately-held, Arizona-based biotechnology company developing a pipeline of peptide-based active specific immunotherapies for cancers that express HER2/neu, a well-validated and established oncology target. The Company's lead product, NeuVax, contains a patented peptide which has been documented over the past 8 years to elevate or boost pre-existing anti-cancer immunity in cancer patients. NeuVax's initial indication is for front-line adjuvant therapy of early-stage breast cancer patients who express HER2/neu but don't qualify for trastuzumab (Herceptin?) or lapatinib (Tykerb?). For more information about the Company visit www.apthera.com.
This news release contains forward-looking statements. These statements are not historical facts and are subject to risks and uncertainties which could cause actual results and the timing of certain events to differ materially from those set forth in or implied herein including, without limitation, risks associated with clinical development, regulatory approvals, product commercialization, intellectual property claims litigation and other risks associated with the Company's proposed activities.