PharmaCyte Biotech Appoints Thomas Yuen to Board of Directors
May 02 2017 - 9:00AM
PharmaCyte Biotech, Inc. (OTCQB:PMCB), a clinical stage
biotechnology company focused on developing targeted therapies for
cancer and diabetes using its signature live-cell encapsulation
technology, Cell-in-a-Box®, today announced the appointment of
Thomas Yuen to its Board of Directors.
Mr. Yuen’s stellar career is exemplified by his
global entrepreneurial experience and extraordinary leadership. He
co-founded Irvine-based AST Research, Inc. (AST) in 1981. AST was
an early pioneer of the computer industry, and the company has been
referred to as “the flagship of innovation in the PC era.” He
served as AST's Co-Chairman and Chief Operating Officer from August
1987 to June 1992. Under his leadership, AST became a Fortune 500
company in 1991, and its stock was named the “Best Performing
NASDAQ Stock” of that year.
Mr. Yuen departed AST in 1992 and focused his
efforts on investing in new projects. Mr. Yuen served in various
engineering and project management positions with Hughes Aircraft
Company, Sperry Univac and Computer Automation. Later in his
career, he became Chairman and CEO of SRS Labs, a world leader in
audio and voice technology. Currently, Mr. Yuen is Chairman and CEO
of PrimeGen Biotech, a private cell therapy company he founded in
2002.
PharmaCyte’s Chief Executive Officer, Kenneth L.
Waggoner, stated, “We are extremely honored that Mr. Yuen has
agreed to become a member of our Board of Directors. His widespread
business experience at the highest levels around the globe,
business acumen and entrepreneurial spirit will be major assets to
PharmaCyte as we strive to take the company to an entirely new
level.”
Mr. Yuen commented, “I am very pleased to become
a member of PharmaCyte’s Board of Directors. PharmaCyte is a
dynamic and exciting company with a transformative platform
technology. There are a multitude of opportunities for growth in
cell therapies, and I intend to play a significant role in helping
PharmaCyte achieve its business goals.”
Mr. Yuen has held numerous director positions.
He served as a Director of AST from 1981 to June 1992. He served as
a Director of Valence Technology, Inc., an energy storage company,
from March 1998 to March 2000 and a Director of DTS, Inc., an audio
technology company, from April 2012 to July 2013. He has served as
a Director of SRS Labs since January 1994. He is also an Honorary
Professor of China Nationality University in Beijing.
In 1988 and 1991, the Computer Reseller News
Magazine named Mr. Yuen one of the top 25 executives of the
computer industry. In 1997, he received the Director of the Year
Award from the Orange County Foundation of Corporate Directors. Mr.
Yuen is the recipient of several awards from the University of
California, Irvine (UCI), including the UCI Medal in 1990, the
Outstanding Engineering Alumni Award in 1987 and the Distinguished
Alumnus Award in 1986. These accolades will soon culminate in Mr.
Yuen receiving the prestigious UCI Extraordinarious Award for his
exemplary career in business and his philanthropic and volunteer
activities. As further testament to his outstanding achievements,
Mr. Yuen is the first of UCI’s 150,000 alumni to receive both the
UCI Medal and the Extraordinarious Award.
Mr. Yuen received his Bachelor of Science Degree in Electrical
Engineering from University of California, Irvine in 1974 with
honors.
About PharmaCyte Biotech
PharmaCyte Biotech is a clinical stage
biotechnology company developing therapies for cancer and diabetes
based upon a proprietary cellulose-based live cell encapsulation
technology known as “Cell-in-a-Box®.” This technology will be used
as a platform upon which therapies for several types of cancer and
diabetes are being developed. PharmaCyte’s therapy for cancer
involves encapsulating genetically engineered human cells that
convert an inactive chemotherapy drug into its active or
“cancer-killing” form. These encapsulated cells are implanted as
close to the patient’s cancerous tumor as possible. Once implanted,
a chemotherapy drug that is normally activated in the liver
(ifosfamide) is given intravenously at one-third the normal dose.
The ifosfamide is carried by the circulatory system to where the
encapsulated cells have been implanted. When the ifosfamide flows
through the encapsulated cells, they act as a “bio-artificial
liver” and activate the chemotherapy drug at the site of the
cancer. This “targeted chemotherapy” has proven effective and safe
to use in past clinical trials and results in no treatment related
side effects.
In addition to developing a novel therapy for
cancer, PharmaCyte is developing a therapy for Type 1 diabetes and
insulin-dependent Type 2 diabetes. PharmaCyte plans to encapsulate
a human cell line that has been genetically engineered to produce,
store and release insulin in response to the levels of blood sugar
in the human body. The encapsulation will be done using the
Cell-in-a-Box® technology. Once the encapsulated cells are
implanted in a diabetic patient they will function as a
“bio-artificial pancreas” for purposes of insulin production.
Safe Harbor
This press release contains forward-looking
statements, which are generally statements that are not historical
facts. Forward-looking statements can be identified by the words
"expects," "anticipates," "believes," "intends," "estimates,"
"plans," "will," "outlook" and similar expressions. Forward-looking
statements are based on management's current plans, estimates,
assumptions and projections, and speak only as of the date they are
made. We undertake no obligation to update any forward-looking
statement because of new information or future events, except as
otherwise required by law. Forward-looking statements involve
inherent risks and uncertainties, most of which are difficult to
predict and are generally beyond our control. Actual results or
outcomes may differ materially from those implied by the
forward-looking statements due to the impact of numerous risk
factors, many of which are discussed in more detail in our Annual
Report on Form 10-K and our other reports filed with the Securities
and Exchange Commission.
More information about PharmaCyte Biotech can be
found at www.PharmaCyte.com. Information may also be obtained by
contacting PharmaCyte’s Investor Relations Department.
Contact:
Investor Relations:
PharmaCyte Biotech, Inc.
Investor Relations Department
Telephone: 917.595.2856
Email: Info@PharmaCyte.com