Genprex Bolsters Board of Directors, Appoints Three Biotechnology and Healthcare Industry Leaders
March 24 2020 - 8:17AM
Business Wire
Board additions will enhance Company’s ability
to execute on key corporate initiatives
Genprex, Inc. (“Genprex” or the “Company”) (Nasdaq: GNPX), a
clinical-stage gene therapy company developing potentially
life-changing technologies for patients with cancer and diabetes,
today announced the appointment of three new members to its Board
of Directors. The new appointments are designed to strengthen the
Company as it executes on its key clinical programs, continues to
build its pipeline, and evaluates future license or corporate
partnership agreements. The new Board members include Brent
Longnecker, Chief Executive Officer of Longnecker & Associates,
Jose A. Moreno Toscano, Chief Executive Officer of LFB USA Inc, and
William R. (“Will”) Wilson, Jr., Chairman, President and Chief
Executive Officer of Wilson Land & Cattle Co.
This strengthening of the Board of Directors closely follows the
Company receiving Fast Track Designation from the Food and Drug
Administration (FDA) for its lead drug candidate, raising more than
$26 million from institutional investors over the last few months,
and licensing a new gene therapy drug candidate for diabetes from
the University of Pittsburgh. Also, just yesterday, the Company
announced that it strengthened its management team by adding two
new senior executives, Catherine Vaczy as Executive Vice President
and Chief Strategy Officer, and Michael Redman as Executive Vice
President and Chief Operating Officer.
“We are honored to have Brent, Jose and Will join our Board in
what we believe is a transformational time for our Company,” said
Rodney Varner, Chief Executive Officer of Genprex. “Their combined
experience in regulatory compliance, business development, clinical
trial management, and deal structuring will be invaluable as we
continue to our develop gene therapy drug candidates and pursue
partnerships for our drug candidates. The addition of these
outstanding directors, together with our new senior executive hires
and a significantly strengthened balance sheet, puts us in an
excellent position to execute our plans.”
Brent Longnecker has more than 30 years of experience in
corporate governance, executive compensation, and risk management
consulting for public, private, and non-profit organizations. Mr.
Longnecker built one of the country’s leading privately-held
executive compensation and corporate governance consultancies,
serving both domestic and international markets. Mr. Longnecker has
deep expertise in healthcare, energy, real estate, manufacturing,
and financial companies, regularly consulting with boards of
directors, CEOs, key executives, and advisors in many major
industries. He is a prolific author on the subjects of executive
compensation and corporate governance.
Jose A. Moreno Toscano brings to the Company over 20 years of
experience in the pharmaceutical and biotechnology industries,
building, developing and transforming organizations. Mr. Moreno
Toscano has a successful track record of identifying and
capitalizing on opportunities to drive exponential revenue growth
and market expansion, revitalizing underperforming operations and
establishing foundations for successful start-up operations. His
experience includes strategic planning, corporate restructuring,
business development, M&A, investor relations, and general
management.
William R. Wilson, Jr. has more than 40 years of experience as
an attorney, with legal experience spanning health care regulation,
biotechnology, clinical trial management, nursing home licensing
and regulation, physician accreditation, securities, corporate
governance, and contractual matters. He previously served as Judge
of the 250th District Court of Travis County, Texas, where he
presided over civil litigation, as well as Assistant District
Attorney for Dallas County, Texas.
About Genprex, Inc.
Genprex, Inc. is a clinical-stage gene therapy company
developing potentially life-changing technologies for patients with
cancer and other serious diseases. Genprex’s technologies are
designed to administer disease-fighting genes to provide new
treatment options for large patient populations with cancer and
other serious diseases who currently have limited treatment
options. Genprex works with world-class institutions and
collaborators to in-license and develop drug candidates to further
its pipeline of gene therapies in order to provide novel treatment
approaches for patients with cancer and other serious diseases. The
Company’s lead product candidate, Oncoprex™, is being evaluated as
a treatment for non-small cell lung cancer (NSCLC). Oncoprex has a
multimodal mechanism of action that has been shown to interrupt
cell signaling pathways that cause replication and proliferation of
cancer cells; re-establish pathways for apoptosis, or programmed
cell death, in cancer cells; and modulate the immune response
against cancer cells. Oncoprex has also been shown to block
mechanisms that create drug resistance. In January 2020, the U.S.
Food and Drug Administration granted Fast Track Designation for
Oncoprex immunogene therapy for NSCLC in combination therapy with
osimertinib (AstraZeneca’s Tagrisso®). For more information, please
visit the Company’s web site at www.genprex.com or follow Genprex
on Twitter, Facebook and LinkedIn.
Forward-Looking Statements
Statements contained in this press release regarding matters
that are not historical facts are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Because such statements are subject to risks and
uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Such
statements include, but are not limited to, statements regarding
the effect of Genprex’s product candidates, alone and in
combination with other therapies, on cancer and diabetes, regarding
potential, current and planned clinical trials, regarding our
possible commercial partnerships and regarding our financial
resources. Risks that contribute to the uncertain nature of the
forward-looking statements include the presence and level of the
effect of our product candidates, alone and in combination with
other therapies, on cancer; the timing and success of our clinical
trials and planned clinical trials of Oncoprex™, alone and in
combination with targeted therapies and/or immunotherapies, and
whether our other potential product candidates, including our gene
therapy in diabetes, advance into clinical trials; our ability to
enter into strategic partnerships and the success of those
partnerships; the timing and success of obtaining FDA approval of
Oncoprex™ and our other potential product candidates; and the
extent and duration of the current and future economic challenges
we may face. These and other risks and uncertainties are described
more fully under the caption “Risk Factors” and elsewhere in our
filings and reports with the United States Securities and Exchange
Commission. All forward-looking statements contained in this press
release speak only as of the date on which they were made. We
undertake no obligation to update such statements to reflect events
that occur or circumstances that exist after the date on which they
were made.
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Genprex, Inc. (877) 774-GNPX (4679) Investor
Relations GNPX Investor Relations (877) 774-GNPX (4679) ext. #2
investors@genprex.com Media Contact Genprex Media Relations
Kalyn Dabbs (877) 774-GNPX (4679) ext. #3 media@genprex.com
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