STARPAX BIOPHARMA ANNOUNCES THE APPOINTMENT OF ANDRÉANNE CYR AS VICE PRESIDENT FINANCE & ADMINISTRATION

MONTREAL, Dec. 12, 2023 /PRNewswire/ - Starpax Biopharma Inc., a biopharmaceutical company developing a groundbreaking cancer treatment platform technology ("Starpax"), is pleased to announce the promotion of Mrs. Andréanne Cyr to Vice President Finance. This appointment is effective as of January 3, 2024. 

Andréanne Cyr is a Certified Public Accountant (CPA) with over 10 years of professional experience in finance, holding positions as auditor and director of finance in various industries. She has worked for several years at Grant Thornton Montréal, notably as a director on audit files for public companies, insurance companies as well as international audit files. She has extensive expertise in International Accounting Standards (IFRS), financial reporting, financial analysis and business process optimization.

Mrs. Cyr joined the Company in 2022. Since joining the Company, she has held key responsibilities in the areas of financial reporting, taxation, finance and public filings at the Security and Exchange Commission of the United States, notably in respect of Starpax recent qualification of its exempt offering under Regulation A+ of the SEC.

In a parallel development, Starpax announces the appointment of Mr. Fred Heinzelmann as Senior Advisor - Finance. With over 30 years of executive experience, Mr. Fred Heinzelmann has worked under Michael Gareau as Executive Vice President Managing Partner and CFO of the private equity firm Ipax Capital L.L.P., for which its Ipax I Fund was awarded in 2017 by Preqin of London UK,  ''Best Performing Buyout Fund'' on a total of 20,500 PE funds analyzed globally. Fred is currently the CFO of Ipax II, the majority owner of Starpax. Before Ipax I, Fred has worked for Sulzer, a public Swiss company with 180 manufacturing plants around the world with sales amounting to USD$ 3.4 billion, as head of Finance, Corporate Public Reporting, and member of the deal teams in charge of mergers, acquisitions and divestitures.

Michael Gareau, founding president of Starpax Biopharma, stated " These strategic nominations were planned with our current CFO, Jean François Pruneau, who during his two-year mandate completed the setting up and structuration of Starpax' corporate finance function. We are now ready to move to the next level with the beginning in 2024 of our clinical trials on humans, our intent to launch an Initial Public Offering and planning the future commercial launch of the Starpax technology."

"I would like to thank Jean-François Pruneau for his exceptional contribution over the last two years in building the finance function, putting up a highly qualified team, engaging with specialized accounting firms and Finra certified brokers, and coordinating the launch of our Regulation A+ exempt offering." said Mr. Gareau.

Jean-Francois Pruneau is a shareholder of Starpax and will continue to advise, from time to time, the company as a shareholder. He will leave Starpax effective January 8, 2024.

Starpax Biopharma Inc., a biopharmaceutical research and development company, has conceived an unprecedented platform technology to treat cancer using living self-propelled Starpax Magnetodrones^™ that are sensitive to magnetic fields, swim within interstitial spaces of tumor tissues, transport anticancer drug attached to their surface, are non-pathogenic and die approximately 60 minutes after injection. The Magnetodrones are injected directly into the tumor and transport an anticancer molecule used in an FDA-approved treatment that has been used on millions of humans for 20 years. The trajectory of the Magnetodrones is controlled by the Starpax PolarTrak in which the patient is positioned, and that is designed to generate precise 3D guidance magnetic field vectors in order to trap the Magnetodrones inside the tumor and force them to spread and release the anticancer drug throughout the volume of the tumor, including hypoxic zones — without circulating in the bloodstream, thereby avoiding side effects usually resulting from systemic cancer treatments. Investors interested in participating in Starpax Biopharma's Regulation A+ capital raise can get more information at investinstarpax.com or Starpaxbiopharma.com.

SOURCE Starpax Biopharma Inc.