CRANBURY, N.J., Jan. 10, 2017 /PRNewswire/ -- Cornerstone
Pharmaceuticals, Inc. today announced several new additions to the
company's Board of Directors. Cornerstone's board members are
leaders drawn from the highest echelons of the scientific and
biopharmaceutical community. The new Directors will further
strengthen Cornerstone's scientific, clinical and corporate
development programs.
"Cornerstone's groundbreaking metabolic cancer approach to
treating some of the most intractable cancers has attracted
Directors of an extraordinarily high caliber. New additions to our
board include Jean-Pierre Sommadossi, Ph.D., founder of two
multi-billion-dollar pharmaceutical companies, Richard Axel, M.D., a Nobel Prize winner,
Chi Van Dang, M.D., Ph.D.,
considered by many to be the world's leading authority on cancer
metabolism, and Richard Scheller,
Ph.D., former Head of Research and Early Development at Genentech,"
said Howard Jonas, Chairman of
Cornerstone's Board of Directors. "Coming on the heels of
encouraging results from preliminary studies of our lead compound,
CPI-613, the new members of Cornerstone's leadership team provide
additional momentum to our drug development efforts, and leave us
well-positioned to advance our pipeline of promising
compounds."
Upon his confirmation as Vice Chair of the board, Dr. Sommadossi
remarked, "Cornerstone's Phase I clinical results in treating some
of the most difficult-to-treat cancers, including stage IV
pancreatic cancer, are very promising. Metabolic cancer therapies
have the potential to transform our current standards of care and
Cornerstone is a leader in this new treatment paradigm. I am
excited to support Cornerstone's world-renowned Board of Directors,
and experienced executive management team in developing and
commercializing Cornerstone's innovative pipeline of metabolic
cancer therapies."
Newly Appointed Directors
The following individuals are newly appointed members of
Cornerstone's Board of Directors:
- Jean-Pierre Sommadossi, Ph.D.: Principal Founder,
Chairman and CEO of Atea Pharmaceuticals. Dr. Sommadossi is also
the Principal Founder of Idenix Pharmaceuticals, Inc. and a
Co-Founder of Pharmasset, Inc., both of which had successful
multi-billion dollar exits. Dr. Sommadossi will serve as Vice
Chairman of the board.
- Richard Axel, M.D.:
Molecular biologist and University Professor in the Department
of Neuroscience at Columbia University;
Investigator at the Howard Hughes Medical Institute, and 2004
winner of the Nobel Prize in Physiology or Medicine.
- Chi Van Dang, M.D., Ph.D.
(non-voting member): Director of the Abramson Cancer Center of
the University of Pennsylvania until
July 1, 2017, when he will become
Scientific Director of the Ludwig Institute for Cancer Research.
Dr. Dang is considered by many to be the world's leading authority
on cancer metabolism. Dr. Dang will also serve as Chair of
Cornerstone's Scientific and Medical Advisory Boards.
- Richard Scheller, Ph.D.:
Former Head of Genentech Research and Early Development
(2009-2014) and member of Genentech's original scientific team
which synthesized Somatostatin; Former member of
Roche Corporate Executive Committee; Previously a professor at
Stanford University Medical Center
(1982-2001) and an Investigator at the Howard Hughes Medical
Institute; Chief Science Officer of Google backed 23andMe; 2013
winner of the Lasker Award.
Newly Appointed Counsel to the Board
In addition to new board member additions, Cornerstone has also
retained Jay P. Lefkowitz as counsel
to the board. Jay is a renowned lawyer within the pharmaceutical
industry.
- Jay P. Lefkowitz:
Senior partner at Kirkland & Ellis and member of the Firm's
Global Executive Management Committee; Adjunct professor at
Columbia Law School; Jay has represented more than a dozen major
pharmaceutical, medical device, and health care companies in
precedent-setting matters. In particular, Jay has won two landmark
decisions at the U.S. Supreme Court that have transformed the
pharmaceutical industry (Pliva v. Mensing and Mutual v. Bartlett).
And he has had a distinguished career in government, serving as a
White House advisor to two former Presidents and as United States
Special Envoy for Human Rights in North
Korea.
About Cornerstone Pharmaceuticals, Inc.
Cornerstone Pharmaceuticals, Inc. is a privately held,
clinical-stage, oncology-focused pharmaceutical company committed
to the development and commercialization of therapies that exploit
the metabolic differences between normal cells and cancer cells.
Cornerstone's primary objective is to develop highly selective and
effective agents with minimal toxic effects on normal cells and
tissues. Cornerstone's first-in-class clinical lead compound,
CPI-613 is being evaluated in multiple Phase I, I/II, and II
clinical studies. The U.S. Food and Drug Administration (FDA) has
designated CPI-613 an orphan drug for the treatment of acute
myeloid leukemia (AML), pancreatic cancer and myelodysplastic
syndromes (MDS). The company's investors include IDT Corporation
(NYSE: IDT). For more information, visit:
www.cornerstonepharma.com.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements relate to future events or the company's future
financial performance. In some cases, you can identify
forward-looking statements by terminology such as "may", "will",
"should", "expect", "plan", "anticipate", "believe", "estimate",
"predict", "potential" or "continue", the negative of such terms,
or other comparable terminology. These statements are only
predictions. Actual events or results may differ materially from
those in the forward-looking statements as a result of various
important factors. Although we believe that the expectations
reflected in the forward-looking statements are reasonable, such
statements should not be regarded as a representation by the
company, or any other person, that such forward looking statements
will be achieved. The business and operations of the company are
subject to substantial risks which increase the uncertainty
inherent in forward-looking statements. We undertake no duty to
update any of the forward-looking statements, whether as a result
of new information, future events or otherwise. In light of the
foregoing, readers are cautioned not to place undue reliance on
such forward-looking statements.
Contact:
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Jacob
Jonas
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Public Relations,
Cornerstone Pharmaceuticals, Inc.
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jacob@cornerstonepharma.com
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Kara Golub
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JFK Communications,
Inc.
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609-456-0822
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kgolub@jfkhealth.com
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SOURCE Cornerstone Pharmaceuticals, Inc.