OncoSec Announces Leadership Team Appointments
Therapeutic oncology company moving into efficacy trials
SAN DIEGO, May 11, 2011 /PRNewswire/ -- OncoSec Medical Inc. (OTCBB: ONCS), a therapeutic oncology company developing innovative medical approaches to treat solid tumor cancers that have unmet medical needs, announced today the appointment of three members to its leadership team. Formed earlier this year, OncoSec expects to initiate Phase II clinical trials for its tumor-destroying, tissue-sparing ElectroOncology therapies before the end of this year.
OncoSec's novel targeted tumor therapies are designed to address the drawbacks of conventional therapies by being tissue sparing; providing potential functional, cosmetic and quality of life benefits; being less invasive and reducing side effects; and potentially reducing both treatment and post-treatment costs. Based on extensive past validating data from human studies, OncoSec expects to initiate advanced stage clinical studies for its ElectroImmunotherapy and ElectroChemotherapy programs.
It is estimated that half of the 1.4 million cancers diagnosed each year in the United States are solid-tumor cancers. Â Cancers of the lung, prostate, colon, rectum or breast cancer are all solid tumor cancers. The National Institutes of Health estimated the annual cost of cancer to be $228.1 billion in 2008.
Today, Punit Dhillon , OncoSec's co-founder, President and CEO, announced the following management appointments:
Dr. Michael Cross , Chief Business Officer
Michael Cross , PhD, a co-founder of OncoSec, will serve as Chief Business Officer. He will be responsible for business development, engineering operations, partnerships and fundraising, among other duties. Dr. Cross, who holds an MBA, has nearly two decades of life sciences venture capital and biotech industry experience. Prior to joining OncoSec, Dr. Cross was Vice President at GrowthWorks and Senior Vice President at Jovian Capital in Toronto. Previous to Jovian, Cross had lead operational responsibilities as COO of a public oncology company, Viventia Biotech, where he helped bring an anti-cancer antibody product into worldwide pivotal clinical trials.
Caryn Peterson , Vice President, Regulatory Affairs
Caryn Peterson brings to OncoSec more than 30 years of pharmaceutical industry experience in research and development, operations, and regulatory affairs. Prior to joining OncoSec, she led worldwide regulatory affairs for Syndax, a late-stage oncology company. Â Peterson also managed regulatory affairs at Ascenta Therapeutics and FeRx Inc., both oncology focused companies. She also worked in regulatory affairs at Amylin Pharmaceuticals, with a focus on first-in-class diabetes therapies. She is a founder and general partner of DSC-Associates, a pharmaceutical consulting group specializing in providing preclinical and clinical strategies to streamline product development. Ms. Peterson has authored several research publications and been a co-inventor on multiple patents.
Veronica Vallejo , CPA, Controller and Principal Financial Officer
Veronica Vallejo will serve as Controller and Principal Financial Officer. Â She has extensive experience in public accounting, most recently as a Senior Manager with Mayer Hoffman McCann P.C., a nationwide accounting firm. Ms. Vallejo has extensive experience in public company operations and all finance and accounting functions, including SEC reporting, compliance and internal controls. Â
These three leaders join Mr. Dhillon, co-founder, President and CEO, who has over 12 years of senior management experience in the biotech industry. He was recently VP Finance & Operations at Inovio Pharmaceuticals, Inc., where he played a pivotal role in raising over $125 million in funding. His operating and corporate finance experience includes product development, raising capital, merger and acquisition transactions and integration, partnering, clinical trials management, US and international regulatory oversight, and P&L and cash management. Mr. Dhillon also worked on numerous programs with the venture capital firm MDS Capital Corp., now Lumira Capital Corp.
About OncoSec Medical Inc.
OncoSec Medical's (OTCBB: ONCS) novel ElectroOncology therapies combine its proprietary electroporation delivery technology with chemotherapeutic or novel DNA-based immunotherapeutics. Targeted local delivery of these agents achieves selective destruction of cancerous tumors while sparing healthy tissue, resulting in improved functional, cosmetic and quality of life outcomes.Â These therapies have achieved validating safety and efficacy data in early and late stage clinical studies of over 400 cancer patients. More information is available at www.oncosec.com.
This press release contains forward looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this release that are not historical facts may be considered such "forward looking statements." Forward looking statements are based on management's current preliminary expectations and are subject to risks and uncertainties which may cause our results to differ materially and adversely from the statements contained herein. Some of the potential risks and uncertainties that could cause actual results to differ from those predicted include our ability to raise additional funding, our ability to acquire, develop or commercialize new products, uncertainties inherent in pre-clinical studies and clinical trials, unexpected new data, safety and technical issues, competition and market conditions. These and additional risks and uncertainties are more fully described in OncoSec's filings with the Securities and Exchange Commission. Undue reliance should not be placed on forward looking statements which speak only as of the date they are made. OncoSec disclaims any obligation to update any forward looking statements to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.
SOURCE OncoSec Medical Inc.
Released May 11, 2011