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8-K - Inspyr Therapeutics, Inc. | v194541_8k.htm |
CONTACT:
Company:
|
Craig
Dionne, Ph.D., CEO
|
GenSpera,
Inc. (210) 479-8112
Investors:
|
Steve
Chizzik
|
The
Verrazano Group (908) 688-9111
Media:
|
Deanne
Eagle
|
Planet
Communications (917) 837-5866
GENSPERA
APPOINTS DR. BO JESPER HANSEN TO ITS BOARD OF DIRECTORS
SAN ANTONIO, Texas, August 17,
2010 – GenSpera, Inc. (OTC.BB: GNSZ) announced the appointment of Bo
Jesper Hansen, MD, Ph.D. to its Board of Directors. Dr. Hansen replaces John M.
Farah, Jr., Ph.D., a board member since 2008, who has resigned due to a change
in his employer’s policy regarding outside directorships.
Dr.
Hansen is currently Executive Chairman of Swedish Orphan Biovitrum (STO:SOBI), a
Swedish specialty pharmaceutical company focusing on rare diseases with unmet
medical needs. Dr. Hansen was previously President, CEO and Chairman of Swedish
Orphan International, where he grew the company from a small Nordic-focused
specialty pharma to an international organization, with over 60 products in
thirteen countries across Europe. Swedish Orphan was acquired by Biovitrum in
2010 for approximately $500 million, creating a company with expertise in
biological products in addition to specialty pharmaceuticals. Dr. Hansen also
serves on the boards of CMC AB, MipSalus Aps, TopoTarget A/S (NASDAQ OMX: TOPO)
and Zymenex A/S.
“In
addition to Dr. Hansen’s demonstrated success in building a successful and
profitable biopharmaceutical organization, his strong business development
background and experience with mergers and acquisitions will be very valuable to
GenSpera as we seek pharmaceutical partnerships in the near future,”
said Craig Dionne, Ph.D., GenSpera CEO and President.
Speaking
about the resignation of Dr. Farah, Dr. Dionne went on to say, “We are very
grateful for the contributions Dr. Farah made to the growth of our organization
in the critical first years of the company. We wish him every success in his
future endeavors.”
About
GenSpera:
GenSpera,
Inc. is a development stage oncology company focused on therapeutics that
deliver a potent, unique and patented drug directly to tumors. GenSpera’s
technology platform combines a potent, plant-derived cytotoxin (thapsigargin)
with a prodrug delivery system that releases the drug only within the
tumor. Unlike standard cancer drugs, thapsigargin kills cells
independent of their division rate, thus making it effective at killing all
fast- and slow-growing cancers and cancer stem cells. GenSpera’s prodrug
platform is the subject of seven issued patents with four additional patents
pending.
In early
2010, GenSpera initiated a Phase I clinical trial targeting solid tumor cancers
with its lead drug, G-202, at Johns Hopkins University and the University of
Wisconsin. The Company anticipates completion of Phase I trials in Q2
2011. Upon successful completion of its Phase I trial, GenSpera
expects to initiate multiple Phase II trials for G-202 in several different
types of cancer. The company’s second drug, G-115, will directly
target prostate cancer. The Company anticipates filing an application
to commence Phase I trials of G-115 in Q3 2011.
GenSpera,
Inc. owns and controls all rights to G-202 and G-115 and anticipates a strategic
partnership to maximize the value of the drugs as they progress through future
clinical trials.
GenSpera
is also developing a cancer imaging platform, derived from thapsigargin, the
active ingredient in its therapeutic drugs, coupled with its patented
tumor-targeted delivery system.
For more
information, please visit the Company’s website: www.genspera.com.
Cautionary
Statement Regarding Forward Looking Information:
This
news release may contain forward-looking statements made pursuant to the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that such forward-looking statements in this press
release regarding potential applications of GenSpera’s technologies constitute
forward-looking statements that involve risks and uncertainties, including,
without limitation, risks inherent in the development and commercialization of
potential products, uncertainty of clinical trial results or regulatory
approvals or clearances, need for future capital, dependence upon collaborators
and maintenance of our intellectual property rights. Actual results may differ
materially from the results anticipated in these forward-looking statements.
Additional information on potential factors that could affect our results and
other risks and uncertainties will be detailed from time to time in GenSpera’s
periodic reports.
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