Dor (AMEX:DOR)
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From Jun 2019 to Jun 2024
DOR BioPharma, Inc. (AMEX: DOR) ("DOR" or the
"Company"), announced that T. Jerome Madison, MBA, CPA, has been
appointed to its Board of Directors. Mr. Madison is currently a
General Partner at Founders Court, a company that specializes in
management buyouts of small companies with significant growth
potential. Founders Court has raised more than $200 million for its
portfolio companies.
Mr. Madison brings to DOR over 30 years of financial and
pharmaceutical experience. In addition to his Founders Court
responsibilities, Mr. Madison held the positions of Chairman, Chief
Executive Officer and President of Pilling Company, a surgical
instruments company. During his tenure at Pilling, sales grew from $19
million to $50 million. Mr. Madison was a co-founder and the initial
Chief Financial Officer of Cytogen, a cancer biotechnology company.
During his initial tenure with Cytogen, the company grew from six to
sixty-five employees and privately raised more than $40 million. In a
return assignment with Cytogen, he raised more than $150 million in a
variety of transactions with public and private sources. He engineered
for Cytogen the acquisitions of Cellcor, a cell-based cancer company,
and CytoRad, a prostate cancer company. Before co-founding Cytogen,
Mr. Madison served as Chief Accounting Officer and Corporate
Controller of Rhone Poulenc Rorer (now part of Sanofi-Aventis), a
major international pharmaceutical company. During Mr. Madison's
tenure with Rhone Poulenc Rorer, the company went through a period of
explosive growth acquiring fifteen companies and doubling sales.
Before joining Rhone Poulenc Rorer, Mr. Madison held financial
positions at Abbott Laboratories. Mr. Madison began his business
career with KPMG where he specialized in the healthcare field
servicing both large and emerging companies. Prior to KPMG, Mr.
Madison served in the U.S. Navy as a Naval Flight Officer. T. Jerome
Madison is a Certified Public Accountant and holds a BS from Wharton
School of the University of Pennsylvania and an MBA from Monmouth
University.
Michael T. Sember, DOR's President and Chief Executive Officer,
commented, "We are quite pleased to welcome TJ to our Board of
Directors. With his strong business and healthcare background he is
well positioned to make significant contributions to the continued
growth and success of DOR. I look forward to his input and guidance as
we bring our products ever closer to commercialization."
T. Jerome Madison replaces Stuart Sedlack, who resigned from the
Board for personal obligations unrelated to DOR.
About DOR BioPharma, Inc.
DOR BioPharma, Inc. is a biopharmaceutical company focused on the
development of biomedical countermeasures and therapeutic products for
areas of unmet medical need. Through our BioTherapeutics Division, we
are developing oral therapeutic products to treat unmet medical needs.
Our lead product, orBec(R) (oral beclomethasone dipropionate), is a
potent, locally-acting corticosteroid being developed for the
treatment of intestinal Graft-versus-Host disease (iGVHD), a common
serious complication of bone marrow transplantation for cancer, as
well as other gastrointestinal disorders characterized by severe
inflammation. We intend to file a new drug application (NDA) with the
FDA for orBec(R) for the treatment of intestinal iGVHD later this
year.
Through our BioDefense Division, we are developing biomedical
countermeasures pursuant to the paradigm established by the recently
enacted Project BioShield Act of 2004. Our biodefense products in
development are bioengineered vaccines designed to protect against the
deadly effects of ricin toxin and botulinum toxin, both of which are
considered serious bioterrorism threats. Our ricin toxin vaccine,
RiVax(TM), is currently the subject of a Phase I clinical trial in
normal volunteers. We have also recently announced the initiation of a
new botulinum toxin therapeutic development program based on rational
drug design.
For further information regarding DOR BioPharma, please visit the
Company's website located at http://www.dorbiopharma.com.
This press release contains forward-looking statements, within the
meaning of Section 21E of the Securities Exchange Act of 1934, that
reflect DOR BioPharma's current expectations about its future results,
performance, prospects and opportunities, including statements
regarding the potential use of orBec(R) for the treatment of iGVHD and
the prospects for regulatory filings for orBec(R). Where possible, DOR
BioPharma has tried to identify these forward-looking statements by
using words such as "anticipates", "believes", "intends", or similar
expressions. These statements are subject to a number of risks,
uncertainties and other factors that could cause actual events or
results in future periods to differ materially from what is expressed
in, or implied by, these statements. DOR BioPharma cannot assure you
that it will be able to successfully develop or commercialize products
based on its technology, including orBec(R), particularly in light of
the significant uncertainty inherent in developing vaccines against
bioterror threats, manufacturing and conducting preclinical and
clinical trials of vaccines, and obtaining regulatory approvals, that
its technologies will prove to be safe and effective (including that
the results of its Phase I clinical trial of RiVax(TM) will
demonstrate acceptable safety and immunogenicity/efficacy), that its
cash expenditures will not exceed projected levels, that it will be
able to obtain future financing or funds when needed, that product
development and commercialization efforts will not be reduced or
discontinued due to difficulties or delays in clinical trials or due
to lack of progress or positive results from research and development
efforts, that it will be able to successfully obtain any further
grants and awards, maintain its existing grants which are subject to
performance, enter into any biodefense procurement contracts with the
U.S. Government or other countries, that it will be able to patent,
register or protect its technology from challenge and products from
competition or maintain or expand its license agreements with its
current licensors, that it will be able to maintain its listing on the
American Stock Exchange, or that its business strategy will be
successful. Important factors which may affect the future use of
orBec(R) for iGVHD include the risks that: because orBec(R) did not
achieve statistical significance in its primary endpoint in the
pivotal Phase III clinical study (i.e. a p-value of less than or equal
to 0.05), the FDA may not consider orBec(R) approvable based upon
existing studies, orBec(R) may not show therapeutic effect or an
acceptable safety profile in future clinical trials, if required, or
could take a significantly longer time to gain regulatory approval
than DOR BioPharma expects or may never gain approval; Dor BioPharma
is dependent on the expertise, effort, priorities and contractual
obligations of third parties in the clinical trials, manufacturing,
marketing, sales and distribution of its products; or orBec(R) may not
gain market acceptance; and others may develop technologies or
products superior to orBec(R). These and other factors are described
from time to time in filings with the Securities and Exchange
Commission, including, but not limited to, DOR BioPharma's most recent
reports on Form 10-QSB and Form 10-KSB. DOR BioPharma assumes no
obligation to update or revise any forward-looking statements as a
result of new information, future events, and changes in circumstances
or for any other reason.