GammaCan International, Inc. Appoints CEO and CFO
October 14 2004 - 1:34PM
PR Newswire (US)
GammaCan International, Inc. Appoints CEO and CFO GIVAT SHMUEL,
Israel, Oct. 14 /PRNewswire-FirstCall/ -- GammaCan International,
Inc. (OTC:GCAN) (BULLETIN BOARD: GCAN) , a pharmaceutical company
focusing on cancer therapies, today announced the appointments of
Dr. Dan J. Gelvan as chief executive officer and Tovi Ben-Zeev as
chief financial officer. Both were promoted from the Company's
majority-controlled Israeli subsidiary. Dr. Gelvan's promotion will
expedite the company's efforts to initiate Phase II clinical trials
of its IVIg-based lead therapy, GCAN101, for the prevention of
metastases and recurrence of cancer. "The preclinical results for
GCAN101 hold great potential for addressing the focal issue for
many cancer patients: survival after the initial treatment," Dr.
Gelvan said. "Our top priority is to determine whether these
results can be replicated in humans." Dr. Gelvan is a seasoned
life-science executive with extensive experience in the field of
anti-cancer drugs. Prior to joining GammaCan, he founded and
managed Zetiq Technologies, a company specializing in
high-throughput screening for non-cytotoxic anti-cancer drugs. Ms.
Ben-Zeev has significant senior financial management experience.
She has acted as CFO at various public and private companies
including Zikit, Ltd., a publicly listed company trading on the
Tel-Aviv Stock Exchange. Dr. Gelvan and Ms. Ben-Zeev replace Mr.
David Stephens, who resigned as the Company's sole officer but will
continue to remain as a director. Mr. Stephens commented:
"Professional management is critical in the clinical trial phase,
and Dr. Gelvan and Ms. Ben-Zeev are ideally suited to join forces
with Professor Yehuda Shoenfeld, our chief scientist and
world-renowned immunodeficiency expert. We now have a strong,
well-equipped and highly experienced management team that will
enable Gammacan to attain its goals." Concurrent with the
management change, the Company also relocated its corporate offices
to 11 Ben Gurion St, 54100 Givat Shmuel, Israel. Tel: +972 3
5774475, Fax +972 3 5324038, . About GammaCan International, Inc.
GammaCan is focusing on the commercialization of a revolutionary
anti- cancer immunotherapy intended to reduce the metastatic spread
of a wide range of cancers. GammaCan's proposed treatment 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. It works by strengthening the patient's immune
system. Many experts currently view immunotherapy as a future
alternative to today's standard chemotherapy. Approximately 20
companies produce IVIg, and annual worldwide sales are currently in
excess of 50 metric tones with an estimated value in excess of 1.5
billion USD. IVIg is commonly used to treat certain autoimmune
diseases and blood disorders and to replace the antibodies in
people who are unable to produce them. For more information, visit
http://www.gammacan.com/ or call the company in Givat Shmuel,
Israel at 972 3 53 24 101. 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. DATASOURCE: GammaCan
International, Inc. CONTACT: Belinda Banks, +1-212-946-2823, , or
Jason Ovitt, +1-847-955-0700, , both of S&S Public Relations
Web site: http://www.gammacan.com/
Copyright