PharmaCyte Biotech, Inc. (OTCQB: PMCB) is a biotechnology company that focuses on developing cancer and diabetes therapies. Shares of the biotech company are down 8.30%, through early trading on Friday, July 28, 2017. Over the past month, PharmaCyte Biotech, Inc. has seen average daily volume of 2.36 million shares. However, volume of 1.35 million shares or dollar volume of $102,600, has already exchanged hands today.
Shares of PharmaCyte Biotech, Inc. are skidding on Friday, after the company announced it has named as Dr. Linda S. Sher as the new Chief Medical Officer. Dr. Sher is a Professor of Clinical Surgery and Director of Clinical Research within the Hepatobiliary and Pancreatic Surgery and Abdominal Organ Transplantation at the University of Southern California’s Keck School of Medicine. Here is the full press release detailing of the new chief medical officer:
PharmCyte Biotech, Inc. Press Release:
LAGUNA HILLS, Calif., July 26, 2017 (GLOBE NEWSWIRE) — PharmaCyte Biotech, Inc. (OTCQB:PMCB), a clinical stage biotechnology company focused on developing targeted therapies for cancer and diabetes using its signature live-cell encapsulation technology, Cell-in-a-Box®, today announced the appointment of Linda S. Sher, M.D. as the company’s Chief Medical Officer.
Dr. Sher is a Professor of Clinical Surgery and Director of Clinical Research in the Division of Hepatobiliary and Pancreatic Surgery and Abdominal Organ Transplantation at the University of Southern California’s (USC) Keck School of Medicine. Dr. Sher is also the Chief of the Division of Clinical Research for the Department of Surgery where she oversees the implementation and conduct of clinical trials for the entire department, averaging between 50 and 70 studies at all times. She is also the Vice Chair of the USC Institutional Review Board.
PharmaCyte’s Chief Executive Officer, Kenneth L. Waggoner, stated, “We are extremely fortunate to have someone with Dr. Sher’s credentials and experience in such a critically important position as our Chief Medical Officer. Dr. Sher will be responsible for the strategy, direction and execution of PharmaCyte’s clinical development plans, an essential position for a biotech company about to embark upon a pivotal trial in pancreatic cancer.
“Not only will Dr. Sher be a key member of the senior management team, she will oversee our entire clinical research program. Dr. Sher has been the Principal or Co-Principal Investigator on more than 50 clinical trials. This experience is invaluable to PharmaCyte. Dr. Sher is expected to contribute considerably to our success as a biotech company and, most importantly, to a successful pivotal trial in pancreatic cancer.”
Commenting on her appointment, Dr. Sher said, “I am joining PharmaCyte at a major inflection point in the company’s evolution as a biotech company with potentially game-changing technology in the way solid tumors are treated. This is an exciting time for PharmaCyte, and I am pleased that I have been asked to play such a major and important role in the company.”
Dr. Sher will oversee the structure, conduct and reporting of PharmaCyte’s clinical trials and will represent PharmaCyte in its interactions with the company’s clinical trial investigators, regulatory agencies, key opinion leaders, the investment, medical and regulatory communities, as well as pharmaceutical and biotechnology sector collaborators and potential partners.
After completing her medical school education and surgical residency at Mount Sinai School of Medicine in New York, Dr. Sher had fellowship training at the University of Pittsburgh in Liver and Kidney Transplantation under the tutelage of Dr. Thomas Starzl. Dr. Starzl was a renowned physician, researcher and expert on organ transplants. He performed the first liver transplant and is often referred to as “the father of modern transplantation.” Following completion of her fellowship program in 1988, Dr. Sher was involved in the establishment of two liver transplant programs in Los Angeles before joining the USC program in 2001.
Dr. Sher has participated in the surgery and management of patients with end stage liver disease, hepatobiliary and pancreatic disease and liver transplant recipients for more than 30 years. She has used her experience as Principal or Co-Principal Investigator for more than 50 clinical trials and as an opportunity to mentor young faculty at USC in the conduct of clinical trials. Dr. Sher is active in the clinical and basic science research components of the Abdominal Organ Transplantation Program at USC. She has authored or co-authored articles on immunosuppression, chronic rejection, disease recurrence, infection, hepatobiliary surgery and transplant outcomes. Dr. Sher is one of the original editors of Current Opinion in Organ Transplantation, which provides the reader with an up to date overview of the entire field of organ transplantation.
About PharmaCyte Biotech, Inc.
PharmaCyte Biotech, Inc. is a clinical stage biotechnology company developing therapies for cancer and diabetes based upon a proprietary cellulose-based live cell encapsulation technology known as “Cell-in-a-Box®.” This technology will be used as a platform upon which therapies for several types of cancer and diabetes are being developed. Kenneth L. Waggoner is the Chief Executive Officer, President, General Counsel and Chairman of the Board.
PharmaCyte’s therapy for cancer involves encapsulating genetically engineered human cells that convert an inactive chemotherapy drug into its active or “cancer-killing” form. These encapsulated cells are implanted as close to the patient’s cancerous tumor as possible. Once implanted, a chemotherapy drug that is normally activated in the liver (ifosfamide) is given intravenously at one-third the normal dose. The ifosfamide is carried by the circulatory system to where the encapsulated cells have been implanted. When the ifosfamide flows through the encapsulated cells, they act as a “bio-artificial liver” and activate the chemotherapy drug at the site of the cancer. This “targeted chemotherapy” has proven effective and safe to use in past clinical trials and results in no treatment related side effects.
PharmaCyte’s therapy for Type 1 diabetes and insulin-dependent Type 2 diabetes involves encapsulating a human cell line that has been genetically engineered to produce, store and release insulin in response to the levels of blood sugar in the human body. The encapsulation will be done using the Cell-in-a-Box® technology. Once the encapsulated cells are implanted in a diabetic patient, they will function as a “bio-artificial pancreas” for purposes of insulin production.
This press release contains forward-looking statements, which are generally statements that are not historical facts. Forward-looking statements can be identified by the words “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plans,” “will,” “outlook” and similar expressions. Forward-looking statements are based on management’s current plans, estimates, assumptions and projections, and speak only as of the date they are made. We undertake no obligation to update any forward-looking statement because of new information or future events, except as otherwise required by law. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and are generally beyond our control. Actual results or outcomes may differ materially from those implied by the forward-looking statements due to the impact of numerous risk factors, many of which are discussed in more detail in our Annual Report on Form 10-K and our other reports filed with the Securities and Exchange Commission.
More information about PharmaCyte Biotech can be found at www.PharmaCyte.com. Information may also be obtained by contacting PharmaCyte’s Investor Relations Department.