OTC-QB requirements are fulfilled with two independent board members appointed
HOUSTON, Dec. 04, 2017 (GLOBE NEWSWIRE) — Oncolix, Inc. (OTC PINK: ONCX) (the “Company”), a biotechnology company focused on gynecological cancers, announced the appointment of John W. Holaday, Ph.D., to the Company’s Board of Directors as an independent board member. The appointment brings the total size of the Board to four members, two of whom are independent, which fulfills an OTC-QB listing requirement.
“As an accomplished CEO of several biopharmaceutical companies, Dr. Holaday has an extensive track record of successfully leading his companies from the ground stages of preclinical research and clinical trials all the way through to product launches,” said Michael T. Redman, president and chief executive officer of Oncolix. “His expertise greatly expands Oncolix’s capabilities in developing Prolanta™ for ovarian cancer through clinical trials as well as for future indications and additions to the pipeline. In addition, with this appointment, we have now fulfilled OTC-QB requirements and expect to uplist soon.”
Dr. Holaday has a track record of accomplishments as a senior executive at several growing biopharmaceutical companies. Most recently, until his retirement in 2014, Dr. Holaday was co-founder, chief executive officer, managing director and board member of QRxPharma, a specialty pharmaceutical company headquartered in Sydney, Australia, where he directed the development and NDA submission of a better-tolerated opioid. Prior to founding QRx in 2007, he was co-founder of the technology-focused Harvest Bank of Maryland and co-founder and chief executive officer of EntreMed, Inc., a pioneering anti-angiogenesis company focused on oncology. He co-founded MaxCyte, a flow electroporation company. Prior to that, he was co-founder and executive vice president of Research and Development at Medicis Pharmaceutical Corp., a dermatology company acquired by Valeant Pharmaceuticals in 2012 for $2.6B. He is currently a board member for several biopharmaceutical companies and non-profit organizations. He earned his B.S. and M.S. from the University of Alabama, and his Ph.D. in Pharmacology from the University of California, San Francisco School of Medicine. He holds over 90 patents and has published over 230 scientific articles, book chapters and four books. He served as Chair of the BioAlliance of the Tech Council of Maryland. In 2006, he was named to the Ernst & Young’s Entrepreneur of the Year Hall of Fame.
“Oncolix is a very promising emerging biopharmaceutical company with a differentiated but overlooked oncology asset in Prolanta,” said Dr. Holaday. “Ovarian cancer still remains the leading cause of death among women with gynecological cancers and fourth most common cause of cancer-related deaths in women in the U.S. There are currently no effective treatment options. Early results from the first clinical trial are promising. It could also be developed for other cancers such as breast and prostate. I look forward to working with Michael to support the continued development of Prolanta™, other future pipeline drug candidates and expansion of the company.”
Oncolix is a clinical-stage biotechnology company developing Prolanta™ for the treatment of ovarian, uterine, breast and other cancers. The Company has a US FDA-cleared IND to commence human testing of Prolanta™ in its first indication, the treatment of ovarian cancer. This Phase 1 clinical trial is currently in progress. Prolanta™ is a prolactin receptor antagonist (or blocker) that has demonstrated efficacy in xenograft models through a unique mechanism of action, autophagy. In addition to ovarian cancer, there is strong preclinical evidence Prolanta™ may be effective in breast, prostate and other cancers. In the current Phase 1 dose-escalation safety trial for the treatment of ovarian cancer, to date there have been no observed serious adverse events and no dose-limiting toxicities. The FDA has approved the designation of Prolanta™ as an Orphan Drug for the treatment of ovarian cancer, which may result in reduced filing fees (currently $2 million), federal tax credits and marketing exclusivity.
The Ruth Group