Actinium Pharmaceuticals Appoints Pharmaceutical Industry Executive Ajit S. Shetty, Ph.D., to the Company’s Board of Direct...
March 28 2017 - 7:00AM
- Proven leader with 36 years of experience with
Johnson & Johnson in numerous executive capacities, most
recently as Head of Enterprise Supply Chain
Actinium Pharmaceuticals, Inc. (NYSE MKT:ATNM) ("Actinium" or "the
Company"), a biopharmaceutical Company developing innovative
targeted payload immunotherapeutics for the treatment of advanced
cancers, announced today that Dr. Ajit Shetty has been appointed to
the Company’s Board of Directors. Dr. Shetty is a pharmaceutical
industry executive with 36 years of experience at Johnson &
Johnson (J&J) and its subsidiary Janssen. Most recently Dr.
Shetty served as the Head of Enterprise Supply Chain at J&J
where he was responsible for the transformation and optimization of
J&J’s global supply chain.
Sandesh Seth, Executive Chairman of Actinium
said, “Dr. Shetty is a highly accomplished pharmaceutical executive
with a demonstrated ability to lead and manage growth on a global
basis with expertise in supply chain and commercialization
activities. His plethora of experiences, wealth of knowledge and
relationships gained in his 36 years at Johnson & Johnson will
be invaluable to Actinium as we execute on the development of our
clinical programs. I welcome Dr. Shetty to the Actinium Board and I
look forward to working with him and the Actinium team in building
an innovative company focused on improving patient outcomes with
our novel radioimmunotherapies.”
Dr. Shetty said, “Actinium is developing
therapies that have the potential to dramatically improve patient
outcomes and to transform important areas of medicine such as bone
marrow transplant. I am honored and excited to join the Actinium
board of directors and look forward to working with the Actinium
Board, executive management and the team to drive value for all
Actinium stakeholders.”
Dr. Shetty joined Janssen Pharmaceutica, Inc. in
1976 ultimately rising to the position of President in 1986 where
he led the establishment of Janssen’s business in the U.S. From
1999 to 2008 he was Managing Director of Janssen Pharmaceutica,
during this time the Janssen Group of companies’ global sales grew
from $1 billion to $8 billion, and from 2004 until 2012 he was
Chairman of the Board of Directors. In Dr. Shetty’s most recent
role at Johnson & Johnson he was head of Enterprise Supply
Chain, where he reported to the CEO and was responsible for the
transformation and optimization of Johnson & Johnson’s supply
chain. Dr. Shetty earned a Ph.D. in Metallurgy and B.A. Natural
Sciences from Trinity College, Cambridge University and a Master of
Business Administration from Carnegie Mellon University.
In 2007, Dr. Shetty was bestowed the title of
Baron by King Albert II of Belgium for his exceptional merits. He
is a member of the Board of Trustees of Carnegie Mellon University,
serves on the Board of Governors for GS1 (Global Standards) in
Belgium and formerly served on the Corporate Advisory Board of the
John Hopkins Carey Business School. In 2016, Dr. Shetty was named
as Chairperson of the Vlaams Instituut voor Biotechnologie (VIB), a
Belgium based life sciences research institute focused on
translating scientific results into pharmaceutical, agricultural
and industrial applications. In addition, he was elected Manager of
the Year in 2004 in Flanders and received a Life-Time Achievement
Award in India in 2010.
About Actinium Pharmaceuticals,
Inc.
Actinium Pharmaceuticals, Inc. is a
biopharmaceutical company developing innovative targeted therapies
for patients with cancers lacking effective treatment options.
Actinium's proprietary platform utilizes monoclonal antibodies to
deliver radioisotopes directly to cells of interest in order to
kill those cells safely and effectively. The Company's lead product
candidate Iomab-B is designed to be used, upon approval, in
preparing patients for a hematopoietic stem cell transplant,
commonly referred to as bone marrow transplant. A bone marrow
transplant is often the only potential cure for patients with
blood-borne cancers but the current standard preparation for a
transplant requires chemotherapy and/or total body irradiation that
result in significant toxicities. Actinium believes Iomab-B will
enable a faster and less toxic preparation of patients seeking a
bone marrow transplant, leading to increased transplant success and
survival rates. The Company is currently conducting a single
pivotal 150-patient, multicenter Phase 3 clinical study of Iomab-B
in patients with relapsed or refractory acute myeloid leukemia
(AML) age 55 and older. The Company's second product candidate,
Actimab-A, is currently in a multicenter open-label, 53-patient
Phase 2 trial for patients newly diagnosed with AML age 60 and
over. Actimab-A is being developed to induce remissions in elderly
patients with AML who lack effective treatment options and often
cannot tolerate the toxicities of standard frontline therapies. In
addition, Actinium is developing Actimab-M, which is being studied
in patients with relapsed or refractory multiple myeloma in a Phase
1 clinical trial. Actinium is also utilizing its alpha-particle
immunotherapy (APIT) technology platform to generate new drug
candidates based on antibodies linked to the element Actinium-225
that are directed at various cancers that are blood-borne or form
solid tumors. Actinium Pharmaceuticals is based in New York, NY. To
learn more about Actinium Pharmaceuticals, please visit
www.actiniumpharma.com and to follow @ActiniumPharma on Twitter
please visit, www.twitter.com/actiniumpharma.
Forward-Looking Statements for Actinium
Pharmaceuticals, Inc.
This news release contains "forward-looking
statements" as defined in the Private Securities Litigation Reform
Act of 1995, including statements regarding the proposed offering.
These statements are based on management's current expectations and
involve risks and uncertainties, which may cause actual results to
differ materially from those set forth in the statements. The
forward-looking statements may include statements regarding product
development, product potential, or financial performance. No
forward-looking statement can be guaranteed and actual results may
differ materially from those projected. Actinium Pharmaceuticals
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
Contact:
Actinium Pharmaceuticals, Inc.
Steve O'Loughlin
Vice President, Finance and Corporate Development
soloughlin@actiniumpharma.com