CARLSBAD, Calif., Dec. 8, 2020 /PRNewswire/ -- Qualigen
Therapeutics, Inc. (Nasdaq: QLGN), a biotechnology company
focused on developing novel therapeutics for the treatment of
cancer and infectious diseases, today announced the
appointments of Amy Broidrick as
Executive Vice President, Chief Strategy Officer, a newly created
executive position, and veteran public company CEO Sidney Emery, Jr. to the Company's board as an
independent director, both effective as of yesterday. Ms.
Broidrick will report to Chairman, Chief Executive Officer and
President Michael Poirier and will
have broad responsibility over the prioritization and execution of
the Company's strategic initiatives, particularly to innovate and
create value from the therapeutics pipeline. Mr. Emery's
appointment increases the size of the Qualigen board to seven
directors, including four independent directors.
"The addition of Ms. Broidrick to our management team and Mr.
Emery to the Board of Directors will have a tremendous impact on
Qualigen as we move forward with our lead compound AS1411 for the
treatment of COVID-19 and other viruses, as well as our other
important cancer therapeutic drug candidates. They bring
significant experience and the necessary skillsets to advance
Qualigen's development programs to the next stage," stated Mr.
Poirier. "Ms. Broidrick has served on our board since August and it
was clear early on that she could meaningfully contribute to
Qualigen's strategic plan as a full-time executive given her vast
experience in the pharmaceutical industry. In addition, we
are pleased to have Mr. Emery join the board as an independent
director. He has been very successful in his career leading both
public and private companies with lucrative exits."
Ms. Broidrick has over 25 years of experience as a
results-proven biopharma executive. From 2016 to July 2020, she served as Senior Vice President,
Head of Corporate Development at Viking Therapeutics, a publicly
traded clinical-stage biopharmaceutical company, with
responsibility for building and implementing the U.S. and global
corporate and business development function. Before joining Viking,
she served as Vice President and Head of Global Marketing
Excellence and Business Innovation at EMD Serono, part of Merck
KGaA (Germany). Before her
position at EMD Serono, Ms. Broidrick was Vice President and Head
of Marketing and Commercialization at Arena Pharmaceuticals. She
has also held roles of increasing responsibility at Merck &
Co., as well as Pfizer (formerly G.D. Searle). Ms. Broidrick's
background includes key roles in the successful worldwide launches
and marketing of VYTORIN®, Zetia® and Celebrex®. Ms. Broidrick
holds a BA from Fairleigh Dickinson
University.
Mr. Emery is a successful entrepreneur and businessman who
brings 50 years of leadership and business experience to the Board
of Directors. Mr. Emery sold his company, Supply Chain Services
(SCS), a barcode equipment solutions provider for commercial
businesses across North America,
to a private equity firm in April
2020. Mr. Emery acquired SCS in 2010 and led its significant
growth. In 2008, he retired after 10 years as Chairman and CEO of
MTS Systems (Nasdaq: MTSC), the world's leading manufacturer of
mechanical testing solutions and high-performance industrial
sensors. Before joining MTS, he held management positions at
Honeywell and Bendix. Mr. Emery is a graduate of the U.S. Naval Academy, served in Vietnam and attained the rank of Lt. Commander
as special assistant to the Secretary of the Navy in the Carter administration. He holds a MS in
Operations Research and a PhD from Stanford
University in Industrial Engineering. He recently retired
from the board of Allete, Inc. a NYSE-listed utilities and energy
company. He chairs the University of St.
Thomas School of Engineering Board of Governors.
About Qualigen Therapeutics, Inc.
Qualigen
Therapeutics, Inc. is a biotechnology company focused on developing
novel therapeutics for the treatment of cancer and infectious
diseases, as well as maintaining and expanding its core
FDA-approved FastPack® System, which has been used successfully in
diagnostics for 20 years. The Company's cancer therapeutics
pipeline includes ALAN (AS1411-GNP), RAS-F and STARS™. ALAN
(AS1411-GNP) is a DNA coated gold nanoparticle cancer drug
candidate that has the potential to target various types of cancer
with minimal side effects. The foundational nucleolin-targeting DNA
aptamer of ALAN, AS1411, is also a drug candidate for use in
treating COVID-19 and other viral-based infectious
diseases. RAS-F is a family of RAS oncogene
protein-protein interaction inhibitor small molecules for
preventing mutated RAS genes' proteins from binding to their
effector proteins; preventing this binding could stop tumor growth,
especially in pancreatic, colorectal and lung cancers. STARS is a
DNA/RNA-based treatment device candidate for removal from
circulating blood of precisely targeted tumor-produced and viral
compounds. Because Qualigen's therapeutic candidates are still in
the development stage, Qualigen's only products that are currently
commercially available are FastPack System diagnostic instruments
and test kits, used in physician offices, clinics and small
hospitals around the world. The FastPack System menu includes rapid
point-of-care diagnostic tests for cancer, men's health, hormone
function, vitamin D status and antibodies against SARS-CoV-2.
Qualigen's facility in Carlsbad,
California is FDA and ISO Certified and its FastPack product
line is sold worldwide by its commercial partner Sekisui
Diagnostics, LLC. For more information on Qualigen Therapeutics,
Inc., please visit https://www.qualigeninc.com/.
Forward-Looking Statements
This news release contains
forward-looking statements by the Company that involve risks and
uncertainties and reflect the Company's judgment as of the date of
this release. These statements include those related to the
Company's prospects and strategy for the development of therapeutic
drug candidates. Actual events or results may differ from the
Company's expectations. For example, there can be no assurance that
clinical trials will be approved to begin by or will proceed as
contemplated by any projected timeline; that the Company will
successfully develop any drugs or therapeutic devices; that
preclinical or clinical development of the Company's drugs or
therapeutic devices will be successful; that future clinical trial
data will be favorable or that such trials will confirm any
improvements over other products or lack negative impacts; that any
drugs or therapeutic devices will receive required regulatory
approvals or that they will be commercially successful; that
patents will issue on the Company's owned and in-licensed patent
applications; that such patents, if any, and the Company's current
owned and in-licensed patents would prevent competition; that the
Company will be able to procure or earn sufficient working capital
to complete the development, testing and launch of the Company's
prospective therapeutic products; that the Company will be able to
maintain or expand market demand and/or market share for the
Company's diagnostic products generally, particularly in view of
COVID-19-related deferral of patients' physician-office
visits and FastPack reimbursement pricing challenges; that adoption
and placement of FastPack PRO System instruments (which are the
only FastPack instruments on which the Company's SARS-CoV-2
IgG test kits can be run) will be widespread; that the Company
will be able to manufacture the FastPack PRO System instruments and
SARS-CoV-2 IgG test kits successfully; that any
commercialization of the FastPack PRO System instruments and
SARS-CoV-2 IgG test kits will be profitable; or that the FDA
will ultimately approve an Emergency Use Authorization for the
Company's SARS-CoV-2 IgG test. The Company's stock price
could be harmed if any of the events or trends contemplated by the
forward-looking statements fails to occur or is delayed or if any
actual future event otherwise differs from expectations. Additional
information concerning these and other risk factors affecting the
Company's business (including events beyond the Company's control,
such as epidemics and resulting changes) can be found in the
Company's prior filings with the Securities and Exchange
Commission, available at www.sec.gov. The Company
disclaims any intent or obligation to update these forward-looking
statements beyond the date of this news release, except as required
by law. This caution is made under the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995.
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SOURCE Qualigen, Inc.