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GammaCan International, Inc. Appoints CEO and CFO
GIVAT SHMUEL, Israel, Oct. 14 /PRNewswire-FirstCall/ -- GammaCan
International, Inc. (OTC:GCAN) (BULLETIN BOARD: GCAN) , a pharmaceutical
company focusing on cancer therapies, today announced the appointments of Dr.
Dan J. Gelvan as chief executive officer and Tovi Ben-Zeev as chief financial
officer. Both were promoted from the Company's majority-controlled Israeli
subsidiary.
Dr. Gelvan's promotion will expedite the company's efforts to initiate Phase II
clinical trials of its IVIg-based lead therapy, GCAN101, for the prevention of
metastases and recurrence of cancer. "The preclinical results for GCAN101 hold
great potential for addressing the focal issue for many cancer patients:
survival after the initial treatment," Dr. Gelvan said. "Our top priority is to
determine whether these results can be replicated in humans."
Dr. Gelvan is a seasoned life-science executive with extensive experience in
the field of anti-cancer drugs. Prior to joining GammaCan, he founded and
managed Zetiq Technologies, a company specializing in high-throughput screening
for non-cytotoxic anti-cancer drugs.
Ms. Ben-Zeev has significant senior financial management experience. She has
acted as CFO at various public and private companies including Zikit, Ltd., a
publicly listed company trading on the Tel-Aviv Stock Exchange.
Dr. Gelvan and Ms. Ben-Zeev replace Mr. David Stephens, who resigned as the
Company's sole officer but will continue to remain as a director. Mr. Stephens
commented: "Professional management is critical in the clinical trial phase,
and Dr. Gelvan and Ms. Ben-Zeev are ideally suited to join forces with
Professor Yehuda Shoenfeld, our chief scientist and world-renowned
immunodeficiency expert. We now have a strong, well-equipped and highly
experienced management team that will enable Gammacan to attain its goals."
Concurrent with the management change, the Company also relocated its corporate
offices to 11 Ben Gurion St, 54100 Givat Shmuel, Israel. Tel: +972 3 5774475,
Fax +972 3 5324038, .
About GammaCan International, Inc.
GammaCan is focusing on the commercialization of a revolutionary anti- cancer
immunotherapy intended to reduce the metastatic spread of a wide range of
cancers. GammaCan's proposed treatment is based on IVIg, a safe, relatively
non-toxic human plasma-based product currently used to treat a variety of
immune deficiencies and autoimmune diseases. It works by strengthening the
patient's immune system. Many experts currently view immunotherapy as a future
alternative to today's standard chemotherapy. Approximately 20 companies
produce IVIg, and annual worldwide sales are currently in excess of 50 metric
tones with an estimated value in excess of 1.5 billion USD. IVIg is commonly
used to treat certain autoimmune diseases and blood disorders and to replace
the antibodies in people who are unable to produce them. For more information,
visit http://www.gammacan.com/ or call the company in Givat Shmuel, Israel at
972 3 53 24 101.
Safe Harbor Statement:
Statements in this document that are not purely historical are forward- looking
statements. Forward-looking statements in this release include statements
regarding: the commercialization of an anti-cancer immunotherapy and the
Company developing the boosting of cancer patients' immune systems with IVIG
into an effective treatment. Actual outcomes and the Company's actual results
could differ materially from those in such forward-looking statements. Factors
that could cause actual results to differ materially include risks and
uncertainties such as the inability to finance the planned development of the
technology, inability to hire appropriate staff to develop the technology,
unforeseen technical difficulties in developing the technology, inability to
obtain regulatory approval for human use, competitors' therapies proving more
effective, cheaper or otherwise preferable for consumers, inability to market
the product we produce, among other factors, all of which could among other
things, delay or prevent product release or cause our company to fail. For
further risk factors see the risk factors associated with other early stage
medical research and development companies filed with the SEC on Edgar.
DATASOURCE: GammaCan International, Inc.
CONTACT: Belinda Banks, +1-212-946-2823, , or Jason
Ovitt, +1-847-955-0700, , both of S&S Public Relations
Web site: http://www.gammacan.com/