VANCOUVER, British Columbia, July 16, 2018 (GLOBE NEWSWIRE) — Pascal Biosciences Inc. (TSX.V:PAS) (“Pascal” or the “Company”), a drug discovery and development company, today announced the appointment of Julie M. Eastland to the Board of Directors, effective immediately. Ms. Eastland is a seasoned strategic and financial executive with more than 25 years of experience in public and private biotechnology companies. Most recently she was Chief Business Officer and Chief Financial Officer of Cascadian Therapeutics, where she negotiated and managed the $810M acquisition by Seattle Genetics in March 2018.
“We are extremely pleased to have Julie Eastland join our Board of Directors,” stated Dr. Patrick Gray, CEO of Pascal. “Ms. Eastland possesses the financial and corporate development experience that Pascal will need going forward. She has previously raised over $725M in both private and public offerings for Cascadian Therapeutics and other biotechnology companies. Ms. Eastland has strong relationships with investors, investment bankers and analysts covering the U.S. public biotech sector, and excellent experience in partnering, acquisitions, collaborations, and licensing. She will work closely with Pascal to align our scientific strategy with our financial goals.”
Ms. Eastland commented, “I believe Pascal’s portfolio of immuno-oncology therapeutic candidates holds great promise, and I look forward to working with Dr. Gray and the rest of the Board to support the advancement of these programs to create value for patients and shareholders.”
Ms. Eastland served as Chief Business and Financial Officer of Cascadian Therapeutics, formerly Oncothyreon Inc., (Nasdaq:CASC and ONTY) from September 2010 to March 2018. From 2006 to 2010, Ms. Eastland was the Chief Financial Officer and Vice President of Finance and Operations of VLST Corporation, a privately-held biotechnology company. Prior to VLST, Ms. Eastland held various financial and strategic management positions at publicly-traded biotechnology companies including Dendreon and Amgen. Ms. Eastland received an M.B.A. from Edinburgh University Management School and a B.S. in finance from Colorado State University.
The Company has also announced the retirement of Dr. Reinhard Gabathuler from the Pascal Board of Directors. “We are indebted to Dr. Gabathuler for his work with Pascal, previously known as Biommune,” Dr. Gray commented, “On behalf of our board of directors, I would like to thank Gaba for his leadership and direction of the company, and I wish him the very best in his future endeavors.”
ABOUT PASCAL BIOSCIENCES INC.
Pascal Biosciences, Inc. is a drug discovery and development company focused on harnessing the body’s immune system to fight cancer. The Company’s three significant technologies are:
- Utilizing proprietary screening systems for identifying novel compounds that are able to restore immune recognition and killing of cancer cells;
- Exploiting the regulation of specific calcium channels expressed by cells of the immune system. By regulating these calcium channels, immune activity can be controlled to combat cancers, infections and autoimmune diseases;
- Developing a therapeutic monoclonal antibody for B-cell precursor acute lymphoblastic leukemia, the most common childhood leukemia, in collaboration with the University of New Mexico.
To learn more, visit: https://www.pascalbiosciences.com/.
On Behalf of the Board of Directors
Dr. Patrick W. Gray, President & CEO
Investors:
invest@pascalbiosciences.com
Tel: 206-221-3443
Company Contact:
Dr. Karina Leal
Tel: 206-221-3443
DISCLAIMER
Certain statements in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including without limitation statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect” and similar expressions. Such forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause our actual results, events or developments, or industry results, to be materially different from any future results, events or developments express or implied by such forward-looking statements or information. Such factors include, among others, our stage of development, lack of any product revenues, additional capital requirements, risk associated with the completion of clinical trials and obtaining regulatory approval to market our products, the ability to protect our intellectual property, dependence on collaborative partners and the prospects for negotiating additional corporate collaborations or licensing arrangements and their timing. Specifically, certain risks and uncertainties that could cause such actual events or results expressed or implied by such forward-looking statements and information to differ materially from any future events or results expressed or implied by such statements and information include, but are not limited to, the risks and uncertainties that: products that we develop may not succeed in preclinical or clinical trials, or future products in our targeted corporate objectives; our future operating results are uncertain and likely to fluctuate; we may not be able to raise additional capital; we may not be successful in establishing additional corporate collaborations or licensing arrangements; we may not be able to establish marketing and the costs of launching our products may be greater than anticipated; we have no experience in commercial manufacturing; we may face unknown risks related to intellectual property matters; we face increased competition from pharmaceutical and biotechnology companies; and other factors as described in detail in our filings with the Canadian securities regulatory authorities at www.sedar.com. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. All forward-looking statements and information made herein are based on our current expectations and we undertake no obligation to revise or update such forward- looking statements and information to reflect subsequent events or circumstances, except as required by law.
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