TAMPA, Fla., Jan. 12, 2015 /PRNewswire/ -- Oxis International, Inc. (OXIS) (OXI.PA) a biotechnology company focused on cannabinoid therapy development and commercialization, announced today, wholly owned subsidiary Oxis Biotech, Inc. executed definitive agreements licensing certain assets for the treatment of Multiple Myeloma and initiated a consulting agreement with University of Pittsburgh's Professor, Dr. Xiang-Qun(Sean)Xie. The license agreement provides Oxis Biotech, Inc an exclusive worldwide license to develop and commercialize therapies for the treatment of Multiple Myeloma. Dr. Xie joins Oxis Biotech as a consultant and member of the Science Advisory Board to further develop the assets licensed to Oxis Biotech, Inc.
Sean Xie, MD, PhD, EMBA (one of the world's foremost cannabinoid research scientists) is a tenured Professor at the Department of Pharmaceutical Sciences/Drug Discovery Institute at University of Pittsburgh and Associate Dean for Research Innovation at the School of Pharmacy. He is Principal Investigator of an integrated research laboratory of CompuGroup, BioGroup and ChemGroup, and Founding Director of Computational Chemical Genomics Screening Center. Dr. Xie is also Director/PI of NIH funded National Center of Excellence for Computational Drug Abuse Research. Dr. Xie holds joint faculty positions at the Departments of Computational System Biology and Structural Biology, and Pittsburgh Cancer Institute MT/DD Program. Xie is a charter member of the NIH BPNS Study Section Review Panel, an oversea expert reviewer for the Chinese Natural Science Foundation, ad hoc reviewer for the Netherlands Organizations for Scientific Research Council for Chemical Sciences, MCMB Foundation for MRC UK, and the Wellcome Trust Fund, Sir Henry Wellcome Fellowship, London, UK. He serves as an invited guest editor for AAPS Journal, Editorial Board of American Journal of Molecular Biology, and Associate Editor of BMC Pharmacology and Toxicology. He was an invited international Assessment Panelist for Fudan University College of Pharmacy, a member of the Board of Directors of the Chinese Association of Professionals in Science and Technology, and a Chair of the CAPST Biomedical and Pharmaceutical Society. Dr. Xie also holds adjunct professor title in top institutes and colleges of pharmacy in China, including CAMS Tianjin Institute of Hematology Stem Cell Medical Center; Fudan, Shanghai Jiaotong, and Zhejiang Universities. In 2013, he was named an honorary professor of Chinese Academy of Medical Sciences & Peking Union Medical College. Dr. Xie is a recipient of the 2014 American Association of Pharmaceutical Scientists (AAPS) Outstanding Research Achievement Award.
OXIS CEO Tony Cataldo stated, "Oxis is honored to have Dr. Xie and his patented technology as an integral part of our strategy to develop high valued patented assets for the treatment of Multiple Myeloma. I wanted to leverage Dr. Xie's significant experience and technologies, much the same way I did when I acquired highly valued patents from the NCI (NIH) for stage 4 Melanoma from the National Cancer Institute to form Lion Biotechnologies, Inc. (LBIO)".
Dr Xie said, "From the bench-to-clinic, there is often a barrier for an academic scientist to translate basic science research findings into valuable therapeutic interventions/patents which lead to drug therapy solutions because of a better understanding of disease process. This has been a dream of mine to pursue translational research and innovation drug discovery patents that have high value and can benefit our society and mankind. Now, we have an opportunity to establish this with our strategic partnership with Oxis Biotech, Inc." Notably, "industry partnership" is also encouraged by University of Pittsburgh new Chancellor Patrick Gallagher who has had extensive high-level leadership in promoting U.S. innovation and industrial competitiveness by advancing measurement science, standards, and technology.
ABOUT OXIS BIOTECH, INC. - OXIS is a biotech company that develops and commercializes innovative drugs of therapeutic molecules including cannabinoids, which are focused on several cancer indications. Oxis address the clinical shortcomings of existing commercial products in related fields. OXIS has formed relationships with some of the worlds leading cannabinoid researchers and institutions to advance it's technologies.
Forward-Looking Statements 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.
SOURCE OXIS International