LOS ANGELES, July 25, 2018 /PRNewswire/ --
GT Biopharma Inc. (OTCQB: GTBP)
(Euronext Paris: GTBP.PA), an immuno-oncology biotechnology company
focused on innovative treatments based on the company's proprietary
platforms, today announced the addition of Dr. John N. Bonfiglio to GT Biopharma's Board of
Directors on July 5, 2018.
"John is a welcome addition to our already strong Board. To
attract a person with John's background and legacy of success is a
testament to the vast opportunities we have here at GT Biopharma. I
am looking forward to working with John and the rest of the Board
in taking this company to the next level," said Dr. Raymond W
Urbanski, Chairman and Chief Executive Officer of GT Biopharma.
"I am very excited to join the GT Biopharma Board of Directors.
The NK cell technology being developed by this Company could be the
next step in the immuno-oncology fight against cancer. I look
forward to contributing to the advancement of the Company and the
technology," stated Dr. Bonfiglio.
Dr. John N. Bonfiglio is a
seasoned well-respected CEO with over 30 years' experience in the
pharmaceutical/biotechnology business. Dr. Bonfiglio started his
career with Allergan pharmaceuticals as a scientist and moved into
project management, strategic marketing and business development.
After working for Baxter HealthCare, he began a career in small
biotech companies. He rose to the position of CEO at Peregrine
Pharmaceuticals where he turned around the struggling and
financially strapped company by reducing the burn rate, licensing
technologies and raising capital in the public markets. Similarly,
as COO of Cypress BioSciences, he helped reinvent the company as a
neuropharmaceutical company, in-licensing technology for
fibromyalgia. This technology was eventually out-licensed to
Forest Labs and was one of the first
products marketed for a fibromyalgia indication.
Dr. Bonfiglio has held CEO positions at the Immune Response
Corporation and Argos Therapeutics where he was responsible for
raising capital, setting corporate strategies and controlling the
corporate spend.
Recently, he completed a successful tenure as CEO at Oragenics
in Tampa, FL. He completed two
strategic deals with Intrexon Corporation, raised over $29M, relisted the company on the NYSE: MKT and
refocused the company on new novel and proprietary antibiotics -
all while reducing the operating expenses.
Dr. Bonfiglio most recently served as Board member and President
and COO a for Tapimmune, a public company in the T-cell vaccine
space. In this capacity he has helped raise over $10M, uplist TapImmune to NASDAQ, formulate a
clinical strategy and bring new awareness to investors interested
in the company.
About GT Biopharma, Inc.:
GT Biopharma, Inc. is a biotechnology company focused on
innovative drugs for the treatment of cancer. GT's lead oncology
drug candidate, OXS-1550 (DT2219) is a novel bispecific scFv
recombinant fusion protein-drug conjugate composed of the variable
regions of the heavy and light chains of anti-CD19 and anti-CD22
antibodies and a modified form of diphtheria toxin as its cytotoxic
drug payload. OXS-1550 targets cancer cells expressing the CD19
receptor or the CD22 receptor or both receptors. When OXS-1550
binds to cancer cells, the cancer cells internalize the drug and
are killed due to the action of cytotoxic payload. OXS-1550 has
demonstrated success in early human clinical trials in patients
with relapsed/refractory B-cell lymphoma or leukemia. In addition,
GTs TriKE platform will address a number of cancer types. GT's
nervous system platform is focused on acquiring or discovering and
patenting late-stage, de-risked, and close-to-market improved
treatments for nervous system diseases (Neurology and Pain) and
shepherding them through the approval process to the NDA. GT
Biopharma's neurology products currently include PainBrake, as well
as treatments for the symptoms of myasthenia gravis, and motion
sickness.
Except for historical information contained herein, the
statements in this release are forward-looking and made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are inherently
unreliable and actual results may differ materially. Examples of
forward-looking statements in this news release include statements
regarding the payment of dividends, marketing and distribution
plans, development activities and anticipated operating results.
Factors which could cause actual results to differ materially from
these forward-looking statements include such factors as the
Company's ability to accomplish its business initiatives,
significant fluctuations in marketing expenses and ability to
achieve and expand significant levels of revenues, or recognize net
income, from the sale of its products and services, as well as the
introduction of competing products, or management's ability to
attract and maintain qualified personnel necessary for the
development and commercialization of its planned products, and
other information that may be detailed from time to time in the
Company's filings with the United States Securities and Exchange
Commission. The Company undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
Contact:
https://www.gtbiopharma.com/
+1(800)304-9888
SOURCE GT Biopharma Inc.