HOUSTON, TX / ACCESSWIRE / June 26, 2018 / Oncolix, Inc. (OTCQB: ONCX) (the "Company"), a biotechnology company focused on gynecological cancers, announced that the board of directors elected veteran Wall Street healthcare professional Sherry Grisewood to the Company's Board of Directors as an independent board member. She will be the fifth member on the Board of Directors and the third independent board member.
"Sherry is an accomplished Wall Street veteran who has considerable experience working with and successfully building early stage life science companies similar to Oncolix," said Michael T. Redman, president and chief executive officer of Oncolix. "Her knowledge and experience in a wide variety of equity transactions, including M&A, licensing and strategic collaborations and private placements will be an important asset as we execute our broader company strategy, to strengthen the capabilities and resources from which Oncolix can continue to grow as a biopharmaceutical company."
Sherry has been active at the Board level for several early-stage life science and medical device companies over the last 20 years. She is currently the Audit Committee Chair and is a member of the Compensation Committee for TapImmune, Inc., a NASDAQ-listed, clinical stage cancer immunotherapy company and is a member of the Board of Directors of Mobitech Regenerative Medicine, Inc., an early stage orthopedics device company. Previously, she served as Managing Partner of Life Sciences Research and prior to that posting, Managing Director of Corporate Finance, at Dawson James Securities, Inc., Research Division and Managing Director, Lifesciences and Technology Banking for Tripoint Global Equities. She has also performed as Senior Life Sciences Banker at Jesup & Lamont Securities Corp. and as an independent strategic advisor and consultant for several investment banks and was Director of Research for several mid-tier brokerage companies and a leading independent investment research company. She holds a Bachelor of Science degree, with Highest Honors, in Life Sciences from Ramapo College of New Jersey, the Chartered Financial Analyst (CFA) designation and is a member of CFA Institute, the American Society of Gene & Cell Therapy and the Tissue Engineering & Regenerative Medicine Intl. Society.
"Advanced ovarian cancer is a very challenging condition in need of new and innovative approaches," said Ms. Grisewood. "Prolanta™ is a novel molecule with both a new target, prolactin receptors, and a new mechanism of action, autophagy. This novelty is what attracted me to Oncolix. I look forward to working with the management team and the rest of the Board to further its development and contributing as an independent director toward Oncolix's future success."
Oncolix is a clinical-stage biotechnology company developing Prolanta™ for the treatment of ovarian, uterine, breast and other cancers. The Company has a US FDA-cleared IND to commence human testing of Prolanta™ in its first indication, the treatment of ovarian cancer. This Phase 1 clinical trial is currently in progress. Prolanta™ is a prolactin receptor antagonist (or blocker) that has demonstrated efficacy in xenograft models through a unique mechanism of action, autophagy. In addition to ovarian cancer, there is strong preclinical evidence Prolanta™ may be effective in breast, prostate and other cancers. In the current Phase 1 dose-escalation safety trial for the treatment of ovarian cancer, to date there have been no observed serious adverse events and no dose-limiting toxicities. The FDA has approved the designation of Prolanta™ as an Orphan Drug for the treatment of ovarian cancer, which may result in reduced filing fees (currently $2 million), federal tax credits and marketing exclusivity.
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