GIVAT SHMUEL, Israel--(BUSINESS WIRE)--April 24, 2006--GammaCan International (OTC BB:GCAN - News), a developer of immuotherapies for cancer and other diseases, today announced that the Board of Directors appointed Patrick N.J. Schnegelsberg to the post of Chief Executive Officer. Vered Caplan will remain CEO of the Company’s Israeli subsidiary.
Patrick Schnegelsberg brings well over a decade of industry experience and expertise to GammaCan. Most recently, he served as Director of Investment Banking for Global Capital Markets Group, and prior to that as Director of Investment Banking at Rodman & Renshaw. In these posts, he led M&A and private transactions for a host of significant companies in the life sciences arena. Prior to entering the world of investment banking, Patrick acted as a buy-side analyst and portfolio manager for Mehta Partners, a leading healthcare focused hedge fund. He joined Mehta Partners after having worked for several years in the consulting industry with tenures at Booz Allen Hamilton’s New York healthcare practice and at Boston-based Global Prior Art, where he founded and fostered the growth of the company’s Life Science Practice for intellectual property consulting. The client roster included top tier pharmaceutical and biotechnology companies as well as some of the top US and EU IP law-firms
Patrick graduated from Harvard Medical School and conducted extensive Ph.D. thesis research in the laboratory of Dr. Rudolf Jeanisch at the Whitehead Institute/M.I.T. He published his first peer-reviewed paper as an undergraduate and since then his work has been published in peer reviewed journals including Cell and Nature.
Vered Caplan, the outgoing CEO, stated, “We believe that Patrick will be a significant contribution to GammaCan’s future both in the clinic and in the public domain. With impressive expertise in banking and partnering specifically in the life sciences arena along with his medical background and pristine international reputation, we are honored by his acceptance of this critical position.”
“I have known GammaCan for a number of years and I am delighted to have been given this opportunity to work with the GammaCan team, the Company’s Board and shareholders to develop VitiGam and the Company’s growing product pipeline”, commented Patrick Schnegelsberg
About GammaCan:
GammaCan is focusing on the commercialization of an innovative anti-cancer immunotherapy to treat metastatic cancer. GammaCan’s platform 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. IVIg works by strengthening the patient’s immune system. Many experts currently view immunotherapy as a future alternative to today’s standard chemotherapy. GammaCan is developing VitiGam, its second generation program. VitiGam is an IVIg derived from the plasma of vitiligo donors and is being developed to treat malignant melanoma. GammaCan owns, and has applied for US patent protection covering the use of IVIg and vitiligo-derived IVIg (VitiGam). For more information about GammaCan visit www.GammaCan.com or call the company’s headquarters in Givat Shmuel, Israel at 972 3 5774475 or toll free 1-866-308-0396 (from North America).
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.
Contact: DeMonte Associates Cynthia DeMonte, 718-706-5005 cdemonte@demonte.com
Source: GammaCan International
