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OXIS International announces plans to Enter the Cannabis Biotech Sector, Completion of Financing, Changes to the Board of Directors

August 27, 2014



By a News Reporter-Staff News Editor at Biotech Week -- Oxis International, Inc. (OXI.PA) announced company management has changed the business and plans to enter the cannabis biotech space. To support the change of business, the company completed a $1.425 million financing. Mr. Anthony Cataldo has joined the OXIS Board of Directors and will serve as Chairman of the Board (see also Oxis International, Inc.).

The changing landscape of medical marijuana laws sweeping the nation has created incredible opportunities for commercialization of cannabis related therapies. (OXI.PA) management team is currently in discussions to license certain intellectual property from some of the world's foremost authorities in the cannabis space. The just completed financing of $1.425 million will be used to bring the company's required SEC filings to current status, increase marketing of OXIS nutraceutical products, and investigate possible business acquisitions in the nutraceutical and/or marijuana sector.

As part of the change of business direction, directors Anshuman Dube and David Saloff have resigned from the Board of Directors. Mr. Anthony Cataldo has been appointed to the Board and will serve as Chairman. Mr. Cataldo has an extensive career in the biotech industry including most recently as Chairman and CEO of Genesis Biopharma , now Lion BIotechnologies Inc. (LBIO), where he was responsible for the acquisition of licenses and CRADA for various cancers utilizing T-cell therapy from the National Cancer Institute.

OXIS CEO Kenneth Eaton stated, "We are very excited about our new direction at OXIS. The cannabis industry provides our shareholders many opportunities that simply did not exist before. Our team at OXIS is uniquely positioned to take advantage of this new business sector."

Keywords for this news article include: Biotechnology, Oxis International Inc.

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Source: Biotech Week


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