"I look forward to leading the team at Chemokine through its next stages of growth," said Richard Piazza. "We will focus on creating value and stimulating the growth of the Company as it continues through its clinical trials. With positive preliminary results announced recently regarding our lead candidate, CTCE-9908, this is a very exciting time for me to assume the CEO role position at Chemokine Therapeutics."
Mr. Piazza has been a member of the board of directors for Chemokine Therapeutics since June 2001 and is presently the Chairman of the Board. Mr. Piazza has over 35 years of experience managing both public and VC-backed healthcare companies ranging from startup device and biotechnology companies to firms with combined annual revenues of over $600 million. He is currently Managing Director of Healthios, a healthcare merchant banking firm. He has served in numerous CEO positions including MAXIA Pharmaceuticals, VitaGen Inc., Marquest, Smith & Nephew SoloPak, Stimetics and Biolectron. With experience that includes all sectors or healthcare (pharmaceuticals, biotechnology, devices & services), Mr. Piazza has created a reputation as a focused operating manager with intimate knowledge of the healthcare industry's dynamics. He has an established track record in high growth companies, new technology development and product launches. In addition to his operating experience, Mr. Piazza has helped to raise over $150 million in both the private equity and public markets and has worked extensively with many of the premier healthcare venture capital funds.
About CTCE-9908
CTCE-9908 is a peptide analog of the Chemokine SDF-1, and an antagonist of its receptor, CXCR4. SDF-1 is the only known naturally occurring chemokine that binds to CXCR4, which is present on many cancer cells. This binding process is believed to be critical in angiogenesis and in the metastasis (or spread) of cancer cells to distant locations in the body, where they form new tumors. Approximately 90% of cancer deaths are due to metastasis. We believe that CTCE-9908 interferes with the metastatic process of cancers by both preventing them to spread and blocking the blood supply to the cancer cells.
About Chemokine Therapeutics Corp. (TSX: CTI, OTCBB: CHKT)
Chemokine Therapeutics is a product-focused biotechnology company developing drugs in the field of chemokines. Chemokines are a class of signaling proteins that play a critical role in the growth, differentiation, and maturation of cells necessary for fighting infection as well as tissue repair and regeneration. Chemokines also have an important role in cancer metastasis and growth. Chemokine Therapeutics is a leader in research in the field of chemokines and has several product candidates in various stages of development.
Safe Harbor Statement under the U. S. Private Securities Litigation Reform Act of 1995: Statements in this document regarding managements' future expectations, beliefs, goals, plans or prospects constitute forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. For this purpose, any statements that are contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "projects", and similar expressions are intended to identify forward-looking statements. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause actual results, future circumstances, or events to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, those associated with the success of research and development programs, the regulatory approval process, competition, securing and maintaining corporate alliances, market acceptance of the Company's products, the availability of government and insurance reimbursements for the Company's products, the strength of intellectual property, financing capability, the potential dilutive effects of any financing, reliance on subcontractors and key personnel and other risks detailed from time-to-time in the Company's public disclosure documents and other filings with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Forward-looking statements are made as of the date hereof, and the Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
CONTACT: Chemokine Therapeutics Corp., Mr. Don Evans, Director of Public Relations, Phone: (604) 822-0305, or 1-888-822-0305, Fax: (604) 822-0302, E-mail: devans@chemokine.net, Internet: www.chemokine.net; Equicom Group, Joanna Longo, Investor Relations, Phone: (416) 815-0700 ext. 233, Fax: (416) 815-0080, E-mail: jlongo@equicomgroup.com
Source: Chemokine Therapeutics Corp.
