GammaCan International Appoints Patrick N.J. Schnegelsberg as Chief Executive Officer
April 24 2006 - 7:30AM
Business Wire
GammaCan International (OTC BB:GCAN), 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.
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