LOS ANGELES--(BUSINESS WIRE)--
Genesis Biopharma, Inc. (OTCBB: GNBP) today announced the appointment of
Sanford J. Hillsberg and Jay Venkatesan, MD, to its board of directors.
Genesis also announced that Paul Kessler and David Voyticky have
tendered their resignations as directors. The appointment of Dr.
Venkatesan and Mr. Hillsberg, and the resignations of Mr. Kessler and
Mr. Voyticky will become effective in approximately two weeks, following
the completion of certain regulatory filings and procedures.
The board of Genesis also includes Chairman and Chief Executive Officer
Manish Singh, PhD, and General Merrill McPeak, who served as director
and interim CEO of Genesis prior to its merger with Lion
Biotechnologies, Inc. on July 24, 2013.
Mr. Hillsberg has been involved in the founding and management of a
number of pharmaceutical and biotech companies, including having served
as Chairman of the Executive Committee of Medco Research, a NYSE-listed
company that was subsequently acquired by King Pharmaceuticals. He has
been active in the field of cancer vaccine therapeutics, having
co-founded and served as a director of ImmunoCellular Therapeutics
(NYSE: IMUC), which is developing a brain cancer vaccine, and currently
serving as the Chairman of the Board of Galena Biopharma (Nasdaq: GALE),
which is developing a breast cancer vaccine. Mr. Hillsberg is the
Managing Partner of the law firm TroyGould PC, where he specializes in
corporate and securities law. He holds a JD from Harvard Law School and
a BA from the University of Pennsylvania.
Dr. Venkatesan is the founder, portfolio manager and managing director
of Ayer Capital Management, a global healthcare long-short equity fund.
Prior to starting Ayer, he was a director at Brookside Capital Partners,
where he oversaw the portfolio's healthcare investments and evaluated
public and private investments in all healthcare subsectors. The founder
and former CEO of Varro Technologies, Dr. Venkatesan was previously a
healthcare venture investor at Patricof & Co. Ventures and a consultant
at McKinsey & Company. He holds an MD from the University of
Pennsylvania, an MBA from the Wharton School and a BA, magna cum laude,
from Williams College, where he was also elected to Phi Beta Kappa.
“We are honored to welcome Sandy and Jay to our board of directors at
this exciting moment in Genesis’ history,” stated Dr. Singh. “Their
combined experience in the management, direction and funding of
healthcare companies will be an asset to Genesis as it begins a new
chapter as a publicly traded, clinical-stage oncology company. We look
forward to leveraging their insights and expertise as we continue
advancing our clinical program in metastatic melanoma, with the goal of
gaining regulatory approval within four years.”