SALT LAKE CITY, UT--(Marketwire - June 22, 2009) - Cancer Therapeutics, Inc. (OTCBB: CTHP),
an emerging biotechnology business incubator with a specific emphasis on
disruptive cancer treatments and nanotechnology, announced today it has
named R. Paul Gray to its Advisory Board.
Mr. Gray is an active early stage investor and strategic consultant to
numerous development stage companies. He is an audit committee financial
expert as defined under the rules and regulations of the Securities and
Exchange Commission (SEC) and meets the financial sophistication
requirements of the listing standards of the NASDAQ.
Mr. Gray currently is the Managing Member of Core Concepts, LLC, a
strategic and financial consulting firm which he founded in 2002. Mr. Gray
has been a member of the Board of Directors of United Therapeutics
Corporation since 2003 and currently serves as Chairman of their audit
committee and member of the compensation committee. He also is Chairman of
the Board of several companies in which he has invested. From 1985 to
1999, Mr. Gray practiced as a Certified Public Accountant at Ernst & Young
LLP, KPMG LLP and Beers & Cutler LLP. Mr. Gray has served as an Officer
and/or Chief Financial Officer for his client's and portfolio companies
from time to time.
"Mr. Gray has a passion to the advancement and development of life-changing
and paradigm shifting technologies and has actively invested his time and
money to this pursuit and related opportunities; he is a welcomed addition
to our Advisory Board," said Chene Gardner, President and CEO of Cancer
Therapeutics, Inc. "We are very enthusiastic about the input Mr. Gray will
provide as we continue to move Cancer Therapeutics forward."
The Company also announced today that its shares have been approved for
electronic transfer with the Depository Trust Corporation and may be
purchased and sold through electronic trading platforms.
About Cancer Therapeutics, Inc.:
Cancer Therapeutics, Inc. is a biotechnology business incubator, with a
specific emphasis on disruptive treatments and nanotechnology. It seeks
out disruptive cancer research and technology opportunities to invest in,
develop, and commercialize. The end result will be therapies, treatments,
and pharmaceuticals targeted at more efficiently and effectively attacking
cancer. CTI seeks partners to co-develop drugs in various stages in our
pipeline.
Safe Harbor: This letter contains certain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended and
Section 21E of the Securities Exchange Act of 1934, as amended, which are
intended to be covered by the safe harbors created thereby. Investors are
cautioned that all forward-looking statements involve risks and
uncertainty, including without limitation, the ability of the Company to
successfully implement its turnaround strategy, changes in costs of raw
materials, labor, and employee benefits, as well as general market
conditions, competition and pricing. Although the Company believes that the
assumptions underlying the forward-looking statements contained herein are
reasonable, any of the assumptions could be inaccurate, and therefore,
there can be no assurance that the forward-looking statements included in
this letter will prove to be accurate. In light of the significant
uncertainties inherent in the forward-looking statements included herein,
the inclusion of such information should not be regarded as representation
by the Company or any other person that the objectives and plans of the
Company will be achieved. In assessing forward-looking statements included
herein, readers are urged to carefully read those statements. When used in
the Annual Report on Form 10-K, the words "estimate," "anticipate,"
"expect," "believe," and similar expressions are intended to be
forward-looking statements.
