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LipoMedix Appoints New Members to Board of Directors and Creates New Executive Committee

Jerusalem, Aug. 05, 2019 (GLOBE NEWSWIRE) --  LipoMedix Pharmaceuticals Ltd., a clinical and development-stage company focused on the development of an innovative, safe and effective cancer therapy based on liposome delivery, today announced the addition of  Miranda J. Toledano and Praveen Tyle, Ph.D., to its board of directors. The company also announced the formation of an executive committee of the board to enhance governance and support the company’s development. Ms. Toledano and Dr. Tyle will join Sanjeev Luther, chairman of the board, on the newly formed executive committee.

“We continue to build LipoMedix’ pharmaceutical franchise with additional talented directors,” said Howard Jonas, chairman of Rafael Holdings, controlling shareholder of LipoMedix. “I am pleased to welcome Miranda and Praveen to the board and look forward to their contributions to help advance the company and its lead product, Promitil®.”

Ms. Toledano has over 20 years of executive experience in the biopharmaceutical sector. She is currently the chief operating officer and chief financial officer of TRIGR Therapeutics, a clinical stage immuno-oncology company focused on bispecific antibodies. Previously, Ms. Toledano served as executive vice president of corporate development at Sorrento Therapeutics. From 2012-2016, Ms. Toledano served as head of healthcare investment banking at MLV & Co. (acquired by B. Riley FBR & Co.). Prior to joining MLV, Ms. Toledano served on the management team at Royalty Pharma. Ms. Toledano started her career in Israel where she led the Life Sciences Corporate Finance group at Ernst & Young (Israel) from 1998 to 2003. Ms. Toledano holds a Bachelor of Arts in economics from Tufts University and a Master of Business Administration in finance and entrepreneurship from the NYU Stern School of Business.

Dr. Tyle is currently the executive vice president of research and development at Lexicon Pharmaceuticals, a fully integrated biopharmaceutical company that is applying a unique approach to gene science based on Nobel Prize-winning technology to discover and develop precise medicines for people with serious, chronic conditions. Prior to joining Lexicon, Dr. Tyle was a member of the executive management team at Osmotica Pharmaceuticals where he served as president, chief executive officer and a member of the board of directors. Dr. Tyle has more than 30 years of pharmaceutical industry experience and has held a series of other senior leadership and executive positions where he has advanced new medical device and drug candidate pipelines to commercial success.

In addition to the board appointments, Alberto Gabizon, M.D., Ph.D., co-founder of LipoMedix, will now serve as president of the company and will continue to lead the scientific, technological and clinical activities. 

About LipoMedix
LipoMedix is a development-stage privately held company focused on the development of an innovative, safe and effective cancer therapy based on liposome delivery.

The Company was established to advance the pharmaceutical and clinical development of a patented chemical entity prodrug of mitomycin-C and its efficient delivery in liposomes to cancer-affected target organs. This formulation, known as Promitil®  – Pegylated Liposomal Mitomycin-C Prodrug (PL-MLP), overcomes problems associated with mitomycin-C toxicity and turns it into a state-of-the-art anti-cancer drug that will potentially become the therapy of choice in a variety of cancers, especially those derived from the gastrointestinal tract (stomach, pancreas, colorectal). The inventor of Promitil and scientific founder of LipoMedix is Prof. Alberto Gabizon of the Hebrew University – Shaare Zedek Medical Center.  Dr. Gabizon is also co-inventor and co-developer of Doxil®, (the first FDA-approved nano-drug in cancer therapy). As co-developer of Doxil®, Prof. Gabizon is one of the few scientists intimately familiar with the successful development & commercialization process of liposomal drugs.

Promitil® is an innovative chemotherapeutic agent with distinct advantages over conventional anticancer agents that have adverse side effects and lack selective delivery to cancer affected sites. This innovative and breakthrough technology has successfully completed phase 1A and 1B studies and will enable cancer patients to receive safer therapy with a more potent anti-tumor effect.

Safe Harbor Statement
This press release contains forward-looking statements. These statements relate to future events or the company’s future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential" or "continue", the negative of such terms, or other comparable terminology. These statements are only predictions. Actual events or results may differ materially from those in the forward-looking statements as a result of various important factors. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the company, or any other person, that such forward-looking statements will be achieved. The business and operations of the company are subject to substantial risks which increase the uncertainty inherent in forward-looking statements. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise.

In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.

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Media Contact:
Vanessa Donohue
rafael@antennagroup.com
201-465-8036