VANCOUVER, British Columbia and MENLO PARK, Calif., June 25, 2018 /PRNewswire/ -- DelMar Pharmaceuticals, Inc. (NASDAQ: DMPI) ("DelMar" or the "Company"), a biopharmaceutical company focused on the development of new cancer therapies, today announced the appointment of Napoleone Ferrara, M.D., to its Board of Directors. Dr. Ferrara is a world-renowned molecular biologist in the field of angiogenesis. He is recognized for a number of scientific achievements. Most notably, Dr. Ferrara is credited with the discovery of vascular endothelial growth factor (VEGF) and the first anti-VEGF antibody which suppresses the growth of a variety of tumors. These breakthrough discoveries played an integral role in the development of the first commercially available angiogenesis inhibitor, Avastin® (bevacizumab), which prevents the growth of new blood vessels in a solid tumor and has become part of the standard treatment regimen for a variety of cancers.
"On behalf of the management team and Board, I am extremely pleased to welcome Dr. Ferrara to DelMar. Dr. Ferrara's preeminent scientific expertise and experience in oncology will be a tremendous asset as we continue to advance the development of VAL-083, a first-in-class small molecule chemotherapy. Additionally, we look forward to Dr. Ferrara's guidance in evaluating future product portfolio expansion opportunities, including VAL-083's use in combination therapies for ovarian and other cancers," said Robert Hoffman, Chairman of DelMar's Board of Directors.
Dr. Ferrara is currently a distinguished professor of pathology and a distinguished adjunct professor of ophthalmology and pharmacology at the University of California, San Diego. Previously, he held increasingly senior positions at Genentech, Inc., over a 24-year period, including fellow, staff scientist and senior scientist. He is a pioneer in the study of angiogenesis biology and identification of its regulators. Dr. Ferrara's lab is responsible for discovering the isolation and cDNA cloning of VEGF and demonstrated that VEGF was a major mediator of tumor angiogenesis leading to the development of Avastin® (bevacizumab). Additionally, his lab's studies led to the clinical development of an anti-VEGF antibody fragment, Lucentis® (ranibizumab), as a highly effective therapy preventing vision loss in intraocular neovascular disorders. Dr. Ferrara has been the recipient of over 60 awards/honors, given more than 300 presentations, authored over 70 patents, and written more than 300 articles, reviews/editorials and published book chapters. He received his fellowship training and postdoctoral research from the University of California, San Francisco, his M.D. (cum laude) and residency training from the University of Catania Medical School, and his Maturita' Classica from Liceo Classico Mario Cutelli.
"I am delighted to join DelMar's Board at such a critical juncture in the Company's development," said Dr. Ferrara. "Based on its profile and the data generated to date, I believe VAL-083 has the potential to be effective against a broad range of solid tumor cancers. I look forward to working closely with DelMar's management team and the Board to continue cultivating the Company's future VAL-083 development path, including the potential of combination therapies with already approved drugs which may provide new treatments for oncology patients with no viable alternatives."
About DelMar Pharmaceuticals, Inc.
DelMar Pharmaceuticals is focused on the development and commercialization of new therapies for cancer patients who have limited or no treatment options. By focusing on understanding tumor biology and mechanisms of treatment resistance, the Company identifies biomarkers to personalize new therapies in indications where patients are failing, or unable to tolerate, standard of care treatments.
The Company's current pipeline is based around VAL-083, a "first-in-class," small-molecule chemotherapeutic with a novel mechanism of action that has demonstrated clinical activity against a range of cancers including central nervous system, ovarian and other solid tumors (e.g. NSCLC, bladder cancer, head & neck) in U.S. clinical trials sponsored by the National Cancer Institute (NCI). Based on DelMar's internal research programs and these prior NCI-sponsored clinical studies, the Company is conducting clinical trials to support the development and commercialization of VAL-083 across multiple oncology indications to solve significant unmet medical needs.
VAL-083 is also being studied in two collaborator-supported, biomarker-driven, Phase 2 clinical trials for MGMT-unmethylated glioblastoma multiforme (GBM). Overcoming MGMT-mediated resistance represents a significant unmet medical need in the treatment of GBM. Further information on DelMar's clinical trials can be found on clinicaltrials.gov:
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC, including, the Company's Annual Report on Form 10-K for the year ended June 30, 2017, the Company's Quarterly Reports on Form 10-Q and the Company's Current Reports on Form 8-K.
SOURCE DelMar Pharmaceuticals, Inc.