VANCOUVER, March 27 /CNW/ - Protox(TM) Therapeutics Inc. (TSX-V:PRX - News) announced today that Leonard Cox has resigned as the company’s Chief Financial Officer to pursue other opportunities and that David Swetlow has joined the company as Vice President, Finance and Operations.
Dr. Fahar Merchant, President and CEO of Protox, said, “We are very appreciative of Leonard’s contribution over the past two years and wish him well in his future endeavours. We are also delighted to welcome David Swetlow to the Protox team. David brings to Protox broad experience in establishing and managing financial and operational systems for later stage life sciences companies and in carrying out public company financings. His experience will undoubtedly prove to be a considerable asset to Protox as we continue to grow the company.”
Mr. Swetlow brings over 15 years of senior financial management experience to Protox encompassing public and emerging companies within the life sciences and technology sectors. He served as Senior Director, Finance at QLT Inc. where he played key roles in QLT’s financings, including the record-setting $200 million equity offering. While at QLT, Mr. Swetlow was instrumental in building infrastructure to support late stage clinical trials and the explosive growth leading up to the approval and launch of the Visudyne ophthalmic drug. He will be joining Protox from Sxip Identity where he currently serves as Vice President, Finance. Mr. Swetlow obtained his CA designation while working for Deloitte & Touche and holds a Bachelor of Business Administration from Simon Fraser University.
About Protox
Protox Therapeutics is a leader in advancing novel, targeted protein toxin therapeutics for treatment of cancer and other proliferative diseases. The company is actively developing two distinct but complementary platforms, INxin(TM) and PORxin, and currently has three clinical programs in development. A Phase IIa clinical trial into the use of PRX321 (INxin) for the treatment of primary brain cancer has been completed and the drug has received Fast Track Designation and Orphan Drug Status from the US FDA. In addition, a Phase I trial has been completed for PRX321 to treat patients with renal cell carcinoma and non-small cell lung cancer. Patient enrolment is underway for a Phase I clinical study into the use of PRX302 (PORxin) to treat localized prostate cancer. PRX302 has also been approved by Health Canada to commence a Phase I clinical study for the treatment of benign prostatic hyperplasia.
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Certain statements included in this press release may be considered forward-looking. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on Protox’ current beliefs as well as assumptions made by and information currently available to Protox and relate to, among other things, anticipated financial performance, business prospects, strategies, regulatory developments, market acceptance and future commitments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by Protox in its public securities filings; actual events may differ materially from current expectations. Protox disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For further information
James Beesley, Director, Investor Relations, Protox Therapeutics, (604) 688-0199, jbeesley@protoxtherapeutics.com Michael Moore, Investor Relations, Equicom Group, (416) 815-0700 x 241, mmoore@equicomgroup.com
Source: Protox Therapeutics Inc.
