PharmaCyte Biotech Appoints Dr. Michael M. Abecassis to Board of Directors
July 10 2017 - 9:30AM
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 Dr.
Michael M. Abecassis to its Board of Directors.
Dr. Abecassis is a renowned transplantation
surgeon at the Northwestern University Feinberg School of Medicine
who has demonstrated outstanding leadership qualities in academia,
in the clinic and throughout his career in medicine – a career that
spans over 30 years. Dr. Abecassis is the Director of the
Comprehensive Transplant Center of the Feinberg School of
Medicine. He is also the Chief of Transplant Surgery in the
Department of Surgery at Feinberg and a James Roscoe Miller
Distinguished Professor of Medicine at Feinberg.
PharmaCyte’s Chief Executive Officer, Kenneth L.
Waggoner, stated, “We are excited about and honored to have Dr.
Abecassis join our Board of Directors. He is a world-renowned
physician who has demonstrated skills in the medical profession at
the highest levels. His stellar career in research and his
outstanding work in the clinic, together with his business
experience and acumen, bode well for PharmaCyte. Dr. Abecassis is
expected to contribute considerably to our success as a biotech
company.”
Commenting on his appointment, Dr. Abecassis
said, “I too am excited to join PharmaCyte’s Board. This is a
company built upon a cellular platform technology that is
transformational in nature. The opportunities for growth in
cellular therapies to treat diseases are limitless. The
Cell-in-a-Box® technology appears to be an ideal vehicle to
capitalize on these opportunities.”
Dr. Abecassis received his MD degree from the
University of Toronto in 1983 and was awarded an MBA degree from
the Kellogg School of Management at Northwestern University in
2000. After his postgraduate tenure in Toronto, Dr. Abecassis began
his clinical career as Assistant Professor of Surgery and Director
of Liver Transplantation and Hepatobiliary Surgery at the
University of Iowa. Dr. Abecassis was recruited by Northwestern
University in 1993 to become its Director of Liver Transplantation.
There he initiated Northwestern’s liver transplant program. In
2004, Dr. Abecassis was named Chief of the Division of
Transplantation at the Feinberg School of Medicine. He became
Founding Director of the Comprehensive Transplant Center at
Northwestern in 2009 and was appointed Dean for Clinical Affairs at
the Feinberg in 2008, serving until 2011.
Dr. Abecassis has received continuous funding
from the National Institutes of Health (NIH) for the past 15 years.
He is the principal investigator in research that includes both
laboratory and clinical studies. He is also the principal
investigator of the clinical core of the NIH Genomics of
Transplantation Cooperative Research Program. Dr. Abecassis
has trained numerous clinical and research fellows.
Dr. Abecassis is a member of many national and
international professional societies, including the Society of
University Surgeons and the American Surgical Association and was
President of the American Society of Transplant Surgeons 2010-2011.
He has served and continues to serve on the Editorial Boards of
major scientific journals (Hepatology, Surgery, Transplantation and
Liver Transplantation) and is a reviewer for all major journals
related to surgery and transplantation. Dr. Abecassis has served as
a member of NIH grant study sections and special emphasis panels
relating to both transplantation and virology. He is a permanent
member of the National Institute of Allergy and Infectious Diseases
(NIAID) study section for career development and training
grants.
Dr. Abecassis has been a course director for the
American Society of Transplant Surgeons Leadership Development
Program since 2010 and was course director for the Advanced Leader
Development Program in 2013 at Northwestern’s Kellogg School of
Management. He was a voting member of the Medicare Coverage
Advisory Committee and served on the United HealthCare Group
Physician Advisory Board on Healthcare Performance and
Quality. Dr. Abecassis has been a member of various local,
regional and national regulatory committees and has published
seminal papers on both the regulatory and financial aspects of
transplantation, including the Healthcare Reform and the Affordable
Care Act.
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. For pancreatic cancer, these encapsulated cells are implanted
in the blood supply to the patient’s tumor as close as possible to
the site of the tumor. 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 pores in the capsules,
the live cells inside 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.
PharmaCyte’s therapy for Type 1 diabetes and
insulin-dependent Type 2 diabetes involves encapsulating 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