Onconova Therapeutics Strengthens Board of Directors with Nomination of Life Sciences Industry Veteran
April 27 2020 - 8:00AM
Onconova Therapeutics, Inc. (NASDAQ: ONTX), a Phase 3 stage
biopharmaceutical company focused on discovering and developing
novel products to treat cancer, with an initial focus on
myelodysplastic syndromes (MDS), today announced the nomination of
biotech industry veteran Terri Shoemaker to the Company’s Board of
Directors. Ms. Shoemaker brings more than 30 years of extensive
commercial and leadership experience to Onconova. Ms. Shoemaker
will join as a Director on Onconova’s Board of Directors following
election of the slate of directors at the annual general meeting of
stockholders scheduled for May 27, 2020.
“Having been a key executive in the launch of
azacitidine in MDS, Terri Shoemaker will be a valuable addition to
our Board of Directors,” said Chairman Michael Hoffman. “We believe
that Ms. Shoemaker's experience and specific skills in developing
and managing commercial organizations in the life science industry
will be instrumental in our efforts moving forward.”
Ms. Shoemaker has served as the President and
CEO of commercial-stage specialty pharmaceutical company Medexus
Pharma, Inc. since October 2018. She has extensive experience in
senior leadership roles with a broad range of commercial and
operational expertise in the life science industry. This includes
her role as National Sales Director and later as Senior Director of
U.S. Commercial Operations for Pharmion Corporation, where she was
integral in the launch of azacitidine for myelodysplastic
syndromes. In 2008, when Celgene Corporation acquired Pharmion, Ms.
Shoemaker remained as Executive Director of Strategic Commercial
Operations working as part of the executive transition team.
“It is an honor to be joining Onconova’s
talented Board of Directors at a pivotal time for the company,”
said Ms. Shoemaker. “Onconova is on the cusp of potentially
bringing a new therapy to higher-risk MDS patients. I look forward
to supporting the creation of a strong commercial-ready
organization, as well as broadening the development of the pipeline
of effective anti-cancer agents.”
Steven M. Fruchtman, M.D., President and Chief
Executive Officer of Onconova, added, “I am extremely pleased that
we are expanding the Board of Directors with the addition of Terri
Shoemaker. Her track record of guiding life science companies
through product development to launch will be vital in achieving
our goals. We look forward to her contributions as we prepare for
potential commercialization.”
About Onconova Therapeutics,
Inc.
Onconova Therapeutics, Inc. is a Phase 3-stage
biopharmaceutical company focused on discovering and developing
novel drugs to treat cancer, with an initial focus on
myelodysplastic syndromes (MDS). Onconova has a pipeline of
proprietary targeted agents designed to work against specific
cellular pathways that are important in cancer cells. Advanced
clinical trials with the Company’s lead compound, rigosertib, are
aimed at what the Company believes are unmet medical needs of
patients with MDS. Onconova has conducted trials with two other
research compounds and has a pre-clinical program with a CDK4/6 and
ARK5 inhibitor, ON 123300.
For more information, please visit
https://www.onconova.com/.
Forward-Looking Statements
Some of the statements in this release are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, Section 21E of the Securities
Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995, and involve risks and uncertainties.
These statements relate to Onconova expectations regarding the
INSPIRE Trial and Onconova’s other development plans. Onconova has
attempted to identify forward-looking statements by terminology
including "believes," "estimates," "anticipates," "expects,"
"plans," "intends," "may," "could," "might," "will," "should,"
"approximately" or other words that convey uncertainty of future
events or outcomes. Although Onconova believes that the
expectations reflected in such forward-looking statements are
reasonable as of the date made, expectations may prove to have been
materially different from the results expressed or implied by such
forward-looking statements. These statements are only predictions
and involve known and unknown risks, uncertainties, and other
factors, including Onconova's ability to continue as a going
concern, maintain its Nasdaq listing, the need for additional
financing, the success and timing of Onconova's clinical trials and
regulatory approval of protocols, our collaborations including the
effective termination of the HanX license and securities purchase
agreements and plans for partnering certain territories, and those
discussed under the heading "Risk Factors" in Onconova's most
recent Annual Report on Form 10-K and quarterly reports on Form
10-Q. Any forward-looking statements contained in this release
speak only as of its date. Onconova undertakes no obligation to
update any forward-looking statements contained in this release to
reflect events or circumstances occurring after its date or to
reflect the occurrence of unanticipated events.
Press release contact
information
Company Contact:Avi Oler Onconova Therapeutics,
Inc. 267-759-3680ir@onconova.us
http://www.onconova.com/contact/
MediaDavid Schull, Russo Partners LLC: (212) 845-4271Nic
Johnson, Russo Partners LLC: (212) 845-4242
InvestorsJan Medina, CFA, Russo Partners LLC: (646) 942-5632
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