JERUSALEM, Aug. 14, 2017 (GLOBE NEWSWIRE) — BioCanCell Ltd. (TASE:BICL), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapies to treat cancer, announced today the appointment of Ms. Ruti Alon to its Board of Directors.
Frank Haluska, M.D, Ph.D., BioCanCell’s President and Chief Executive Officer, commented, “We are extremely pleased to welcome Ruti to BioCanCell’s Board of Directors. Ruti’s background and experience are an excellent fit as we prepare to launch two pivotal clinical trials of our lead investigational agent, BC-819, either of which may lead to registration in early stage bladder cancer. She has a distinguished record of leadership and accomplishment in finance and biotechnology, and she will bring her experience and insight to the strategic guidance of BioCanCell. The Board and the Company very much look forward to her joining us.”
Ms. Alon is currently the founder and CEO of Medstrada. From 1997 to 2016, she served as a General Partner at Pitango Venture Capital, one of the most influential venture firms in Israel. Prior to her tenure at Pitango, Ms. Alon held senior positions with Montgomery Securities from 1981 to 1987, Genesis Securities, LLC from 1993 to 1995, and Kidder Peabody & Co. from 1987 to 1993, and managed her own independent consulting business in San Francisco in the medical devices industry from 1995 to 1996. Ms. Alon was the Founder and Chairperson of Israel Life Science Industry, a not-for-profit organization then representing the mutual goals of approximately 700 Israeli life science companies. She is also the Co-Founder of IATI, Israel Advanced Technology Industries, an umbrella organization to all high-tech and Life Sciences companies in Israel. Ms. Alon has a B.A. in Economics from the Hebrew University of Jerusalem, Israel, and an M.B.A. from Boston University.
Ms. Alon commented, “I am truly excited to have the opportunity to join BioCancell’s Board of Directors. BC-819 has the potential to be the first of its kind DNA-directed cancer therapy. I look forward to being part of BioCanCell as it is targeting this serious unmet medical need.”
Larry Howard, M.D., Chairman of the Board of Directors, added that “Ruti is a successful leader in the Israel biotechnology and life science industry. We will value her perspective and experience as she joins the leadership of BioCanCell.“
Ms. Alon’s appointment has been approved by BioCanCell’s Board of Directors. It will be finalized upon its ratification by a general meeting of shareholders in early September.
BioCanCell is a clinical-stage biopharmaceutical company focused on the discovery and development of novel therapies to treat cancer. The Company’s most advanced product candidate, BC-819, is in development as a treatment for early stage, non-muscle-invasive bladder cancer (NMIBC). Two registrational clinical trials of BC-819 are planned to be initiated in 2017: a single arm trial in patients whose disease is unresponsive to standard therapy, and a randomized trial, under a special protocol assessment (SPA) from the FDA, in patients who have failed a first course of treatment. For additional information please go to www.biocancell.com.
Forward Looking Statements
This press release contains “forward-looking statements” that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of clinical trials, the anticipated effects of receiving Fast Track designation, the anticipated timeframe for conducting additional clinical trials and making regulatory submissions, and other strategic and business plans and objectives. These forward-looking statements are based on information BioCanCell has when those statements are made or its management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to: the success of the approach to discover and develop prospective therapeutic products, which is new and may never lead to marketable products; a lack of history of commercial sales; a dependence on the success of BC-819, the development of which will require significant additional clinical testing before regulatory approval can be sought and commercial sales launched; a need to raise substantial additional funds to complete R&D activities; an ability to overcome scientific or technological difficulties that may be encountered and that may impede R&D activities; and an ability to obtain and maintain intellectual property protection for product candidates, including pursuant to licensed patents.
Company Contact: Frank Haluska, M.D., Ph.D. President and Chief Executive Officer 857-259-4622 firstname.lastname@example.org Investor Contact: Patricia L. Bank Westwicke Partners 415-513-1284 email@example.com
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