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EX-10.1 - MATERIAL CONTRACTS - GT Biopharma, Inc. | gtbp_ex101.htm |
8-K - PRIMARY DOCUMENT - GT Biopharma, Inc. | gtbp_8k.htm |
Exhibit 99.1
GT Biopharma, Inc. announces Shawn M. Cross, 20-Year Healthcare Investment Banking
Industry Veteran, as President and Chief Operating
Officer.
Washington, DC / Accesswire / November 16, 2017 – GT
Biopharma, Inc. (GTBP) (GTBP.PA) (“GT” or the
“Company”), a clinical-stage biopharmaceutical company
focused on the development and commercialization of novel cancer
immunotherapy products as well as central nervous system
treatments, today announced that Shawn M. Cross has accepted the
position of President and Chief Operating Officer, effective
immediately.
Mr. Cross is an internationally recognized investment banker
specializing in the biopharmaceutical sector with over 20 years of
experience. He was most recently Managing Director, Head of
Biotechnology Investment Banking at Deutsche Bank Securities Inc.
Previously, he served as Managing Director and Head of
Biopharmaceutical Investment Banking at Wells Fargo Securities,
LLC.
Mr. Cross began his career at Alex. Brown & Sons Inc. after
receiving his M.B.A. with a concentration in Finance from Columbia
Business School. He received his B.S. from University of
California, Los Angeles and prior to business school worked in
Brian Reid’s lab at the University of Washington Medical
School, Division of Gastroenterology, where he worked on a team
studying the role of p53 in neoplastic progression.
GT Biopharma Executive Chairman Anthony J. Cataldo said, “The
addition of Shawn to our executive management team is important to
continuing to advance the accomplishments we have achieved
throughout this year. Shawn’s experience in advising publicly
traded emerging biotech companies, in key strategic arenas,
provides timely expertise at this stage of the Company’s
growth and serves as a major milestone for the
Company.”
GT Biopharma Chief Executive Officer Dr. Kathleen Clarence-Smith
said, “Shawn and I have known each other for many years, and
I have been impressed by his accomplishments in healthcare
investment banking. His past experience in both biomedical research
and finance should be of great value to the Company. He brings a
clear vision and strong leadership skills to GT Biopharma. I look
forward to working with Shawn on our continued
growth.”
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GT Biopharma President and COO Shawn M. Cross said, “I see a
great deal of promise in GT Biopharma’s pipeline of
immune-oncology and neurology therapeutics and am delighted to
become part of its skilled leadership team. GT Biopharma is a
dynamic company with a potentially ground-breaking oncology
platform technology and diverse portfolio, and I look forward to
being instrumental to the evolution of such an exciting and diverse
company.”
About GT Biopharma, Inc.: GT Biopharma, Inc. is a clinical-stage
biopharmaceutical company focused on the development and
commercialization of novel cancer immunotherapy products as well as
central nervous system treatments. GT’s lead oncology drug
candidate, OXS-1550 (DT2219ARL) is a novel bispecific scFv
recombinant fusion protein-drug conjugate composed of the variable
regions of the heavy and light chains of anti-CD19 and anti-CD22
antibodies and a modified form of diphtheria toxin as its cytotoxic
drug payload. OXS-1550 targets cancer cells expressing the CD19
receptor or the CD22 receptor or both receptors. When OXS-1550
binds to cancer cells, the cancer cells internalize the drug and
are killed due to the action of cytotoxic payload. OXS-1550 has
demonstrated encouraging results in early human clinical trials in
patients with relapsed/refractory B-cell lymphoma or leukemia.
OXS-3550 TriKE technology was developed by researchers at the
University of Minnesota Masonic Cancer Center. As demonstrated in
non-clinical models, this targeted immunotherapy directs immune
cells to kill cancer cells while diminishing drug-related toxicity.
GT’s CNS platform is focused on acquiring or discovering and
patenting late-stage, de-risked, and close-to-market improved
treatments for CNS disease (Neurology and Pain) and shepherding
them through the approval process to the NDA. The Company’s
neurology products currently include PainBrake, as well as
treatments for the symptoms of myasthenia gravis, and motion
sickness.
Except for historical information contained herein, the statements
in this release are forward-looking and made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements are inherently unreliable and
actual results may differ materially. Examples of forward-looking
statements in this news release include statements regarding the
effectiveness of the Company’s technology and the future
growth and operating and financial performance of the Company.
Factors which could cause actual results to differ materially from
these forward-looking statements include such factors as the
Company’s ability to accomplish its business initiatives,
obtain regulatory approval and protect its intellectual property;
significant fluctuations in marketing expenses and ability to
achieve or grow revenue, or recognize net income, from the sale of
its products and services, as well as the introduction of competing
products, or management’s ability to attract and maintain
qualified personnel necessary for the development and
commercialization of its planned products, and other information
that may be detailed from time to time in the Company’s
filings with the United States Securities and Exchange Commission.
The Company undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise.
Company
website:
www.GTBiopharma.com
Media
contact:
Stuart
Pfeifer, Sitrick & Co.
(310)
788-2850, or spfeifer@sitrick.com
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