Genesis Biopharma Announces Management and Board Changes

LOS ANGELES, Feb. 11, 2011 /PRNewswire/ -- Genesis Biopharma, Inc. (OTC Bulletin Board: GNBP), a biotechnology company developing targeted cancer therapies, today announced that Anthony J. Cataldo has been named President and Chief Executive Officer.  Mr. Cataldo succeeds Robert Brooke, who now serves as a strategic advisor to Genesis Biopharma.  In addition, the Company named Michael Handelman as Chief Financial Officer, Treasurer and Secretary, succeeding Richard McKilligan.

Mr. Cataldo and Mr. Handelman have been appointed to the Company's Board of Directors.  Mr. Brooke, Mr. McKilligan and Mark Ahn have resigned as members of the Genesis Biopharma Board.  All of these changes are effective immediately.

"I'm looking forward to working with the Genesis Biopharma board to further the progress of our important cancer technology, and to develop new strategic opportunities to build shareholder value," said Mr. Cataldo. "Genesis Biopharma's targeted anti-CD55 monoclonal antibody technology has widespread clinical utility, as it neutralizes a key cancer defense mechanism that is over-expressed in more than 80% of tumors. The anti-CD55 technology could provide a safe alternative to toxic chemotherapy regimens, and has the potential to expand and improve the clinical utility of already approved antibody therapies as well as some novel agents in development."

Mr. Cataldo, age 58, has nearly two decades experience as a senior executive with publicly traded companies.  He currently serves as the Chairman, Chief Executive Officer and a Director of Oxis International, Inc. (OTC Bulletin Board: OXIS), positions he has held since March 2009.  Oxis is engaged in the research, development and sale of products that counteract the harmful effects of oxidative stress.  Previously, he served as non-executive Co-Chairman of the Board of MultiCell Technologies, Inc., a supplier of functional, non-tumorigenic immortalized human hepatocytes. Mr. Cataldo has also served as Executive Chairman of Calypte Biomedical Corporation, a biotechnology company involved in the development and sale of urine-based HIV-1 screening tests. Prior to that, he served as President and Chairman of the Board of Senetek, PLC, a biotechnology company involved in age-related therapies.

Michael Handelman, age 52, currently serves as the Chief Financial Officer of Oxis International.  Before joining Oxis, he served as Chief Financial Officer and Chief Operating Officer of TechnoConcepts, Inc., a developing technology and manufacturing company.  Prior to that, he was Chief Financial Officer of Interglobal Waste Management, Inc., a start-up manufacturing company.  Mr. Handelman has also been Chief Financial Officer of the Los Angeles Kings, a National Hockey League franchise.  He is a certified public accountant and holds a degree in accounting from the City University of New York.

About Genesis Biopharma, Inc.

Genesis Biopharma, Inc. is a development-stage biotechnology company engaged primarily in the development of targeted cancer therapies.  For more information on the company, visit www.genesis-biopharma.com.

Forward-Looking Statements

The foregoing press announcement contains forward-looking statements that can be identified by such terminology as "expect," "potential," "suggests," "bodes," "may," "should," "could" or similar expressions.  Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements.  In particular, management's expectations regarding future research, development and/or commercial results could be affected by, among other things, uncertainties relating to clinical trials and product development; availability of future financing; unexpected regulatory delays or government regulation generally; the company's ability to obtain or maintain patent and other proprietary intellectual property protection; and competition in general. Forward-looking statements speak only as of the date they are made. The company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

SOURCE Genesis Biopharma, Inc.