EDISON, N.J., Sept. 21, 2016 /PRNewswire/ -- ContraVir
Pharmaceuticals, Inc. (NASDAQ: CTRV), a biopharmaceutical company
focused on the development and commercialization of targeted
antiviral therapies, announced today the appointment of Thomas
H. Adams, Ph.D., to the Company's Board of Directors. Dr.
Adams is a seasoned biotechnology veteran who also currently serves
as Chairman of the Board for Trovagene, Inc.
James Sapirstein, Chief Executive
Officer of ContraVir, stated, "Tom is an accomplished executive and
entrepreneur. He has significant experience growing public
and private biotechnology companies from his long career in the
industry. He will be a valuable addition to our Board of Directors
and we are pleased to welcome him."
Dr. Adams is currently a director of Synergy Pharmaceuticals,
Inc. In addition, Dr. Adams served as a director of
IRIS International, Inc. since June
2005 and Chief Technology Officer of IRIS from April 2006 until November
2012 when it was acquired by Danaher Corporation.
Dr. Adams served as Chairman and Chief Executive Officer of
Leucadia Technologies, a privately held medical-device company,
from 1998 to April 2006, when
Leucadia was acquired by IRIS.
Previously, in 1989, Dr. Adams founded Genta, Inc., a publicly
held biotechnology company in the field of antisense technology,
and served as its Chief Executive Officer until 1997. Dr. Adams
founded Gen-Probe, Inc. in 1984 and served as its Chief Executive
Officer and Chairman until its acquisition by Chugai
Biopharmaceuticals, Inc. in 1989.
Dr. Adams has significant public company experience serving as a
director of Biosite Diagnostics, Inc. from 1989 to 1998 and as a
director of Invitrogen from 2000 to 2002. He holds a Ph.D. in
Biochemistry from the University of
California, at Riverside.
About ContraVir Pharmaceuticals
ContraVir is a biopharmaceutical company focused on the development
and commercialization of targeted antiviral therapies with a
specific focus on developing a potentially curative therapy for
hepatitis B virus (HBV). The Company is developing two novel
anti-HBV compounds with complementary mechanisms of action: CMX157,
a highly potent analog of the successful antiviral drug tenofovir
currently in Phase 2a, which has demonstrated the potential for
low, once a day dosing compared to Viread® and decreased
systemic exposure, thereby potentially reducing renal and bone side
effects; and CRV431, a next generation cyclophilin inhibitor with a
unique structure that increases its potency and selective index
against HBV. ContraVir is also developing FV-100, an orally
available nucleoside analogue prodrug for the treatment of herpes
zoster, or shingles, in a Phase 3 clinical trial. In addition
to direct antiviral activity, FV-100 has demonstrated the potential
to reduce the incidence of debilitating shingles-associated pain
known as post-herpetic neuralgia (PHN) in a Phase 2 clinical
study. For more information visit www.contravir.com.
Forward Looking Statements
Certain statements in this press release are forward-looking within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements may be identified by the use of
forward-looking words such as "anticipate," "believe," "forecast,"
"estimated" and "intend," among others. These forward-looking
statements are based on ContraVir's current expectations and actual
results could differ materially. There are a number of factors that
could cause actual events to differ materially from those indicated
by such forward-looking statements. These factors include, but are
not limited to, substantial competition; our ability to continue as
a going concern; our need for additional financing; uncertainties
of patent protection and litigation; uncertainties with respect to
lengthy and expensive clinical trials, that results of earlier
studies and trials may not be predictive of future trial results;
uncertainties of government or third party payer reimbursement;
limited sales and marketing efforts and dependence upon third
parties; and risks related to failure to obtain FDA clearances or
approvals and noncompliance with FDA regulations. As with any drug
candidates under development, there are significant risks in the
development, regulatory approval, and commercialization of new
products. There are no guarantees that future clinical trials
discussed in this press release will be completed or successful, or
that any product will receive regulatory approval for any
indication or prove to be commercially successful. ContraVir does
not undertake an obligation to update or revise any forward-looking
statement. Investors should read the risk factors set forth in
ContraVir's Form 10-K for the year ended June 30, 2015 and other periodic reports filed
with the Securities and Exchange Commission.
For further information, please contact:
Sharen Pyatetskaya
Director of Investor Relations
sp@contravir.com; (732) 902-4028
Tiberend Strategic Advisors, Inc.
Joshua Drumm, Ph.D. (investors)
jdrumm@tiberend.com; (212) 375-2664
Claire LaCagnina (media)
clacagnina@tiberend.com; (212) 375-2686
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SOURCE ContraVir Pharmaceuticals, Inc.