GIVAT SHMUEL, Israel, Oct. 14 /PRNewswire-FirstCall/ -- GammaCan International, Inc. (BULLETIN BOARD: GCAN) , a pharmaceutical company focusing on cancer therapies, today announced the appointments of Dr. Dan J. Gelvan as chief executive officer and Tovi Ben-Zeev as chief financial officer. Both were promoted from the Company’s majority-controlled Israeli subsidiary.
Dr. Gelvan’s promotion will expedite the company’s efforts to initiate Phase II clinical trials of its IVIg-based lead therapy, GCAN101, for the prevention of metastases and recurrence of cancer. “The preclinical results for GCAN101 hold great potential for addressing the focal issue for many cancer patients: survival after the initial treatment,” Dr. Gelvan said. “Our top priority is to determine whether these results can be replicated in humans.”
Dr. Gelvan is a seasoned life-science executive with extensive experience in the field of anti-cancer drugs. Prior to joining GammaCan, he founded and managed Zetiq Technologies, a company specializing in high-throughput screening for non-cytotoxic anti-cancer drugs.
Ms. Ben-Zeev has significant senior financial management experience. She has acted as CFO at various public and private companies including Zikit, Ltd., a publicly listed company trading on the Tel-Aviv Stock Exchange.
Dr. Gelvan and Ms. Ben-Zeev replace Mr. David Stephens, who resigned as the Company’s sole officer but will continue to remain as a director. Mr. Stephens commented: “Professional management is critical in the clinical trial phase, and Dr. Gelvan and Ms. Ben-Zeev are ideally suited to join forces with Professor Yehuda Shoenfeld, our chief scientist and world-renowned immunodeficiency expert. We now have a strong, well-equipped and highly experienced management team that will enable Gammacan to attain its goals.”
Concurrent with the management change, the Company also relocated its corporate offices to 11 Ben Gurion St, 54100 Givat Shmuel, Israel. Tel: +972 3 5774475, Fax +972 3 5324038, info@gammacan.com.
About GammaCan International, Inc.
GammaCan is focusing on the commercialization of a revolutionary anti- cancer immunotherapy intended to reduce the metastatic spread of a wide range of cancers. GammaCan’s proposed treatment is based on IVIg, a safe, relatively non-toxic human plasma-based product currently used to treat a variety of immune deficiencies and autoimmune diseases. It works by strengthening the patient’s immune system. Many experts currently view immunotherapy as a future alternative to today’s standard chemotherapy. Approximately 20 companies produce IVIg, and annual worldwide sales are currently in excess of 50 metric tones with an estimated value in excess of 1.5 billion USD. IVIg is commonly used to treat certain autoimmune diseases and blood disorders and to replace the antibodies in people who are unable to produce them. For more information, visit http://www.gammacan.com/ or call the company in Givat Shmuel, Israel at 972 3 53 24 101.
Safe Harbor Statement:
Statements in this document that are not purely historical are forward- looking statements. Forward-looking statements in this release include statements regarding: the commercialization of an anti-cancer immunotherapy and the Company developing the boosting of cancer patients’ immune systems with IVIG into an effective treatment. Actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the planned development of the technology, inability to hire appropriate staff to develop the technology, unforeseen technical difficulties in developing the technology, inability to obtain regulatory approval for human use, competitors’ therapies proving more effective, cheaper or otherwise preferable for consumers, inability to market the product we produce, among other factors, all of which could among other things, delay or prevent product release or cause our company to fail. For further risk factors see the risk factors associated with other early stage medical research and development companies filed with the SEC on Edgar.
GammaCan International, Inc.
CONTACT: Belinda Banks, +1-212-946-2823, belinda@sspr.com , or JasonOvitt, +1-847-955-0700, jovitt@sspr.com , both of S&S Public Relations
Web site: http://www.gammacan.com/
