SOURCE: Oncologix Tech, Inc.

January 04, 2008 11:01 ET

New Chairman for Oncologix Tech, Inc. Issues Statement

SUWANEE, GA--(Marketwire - January 4, 2008) - Ms. Judy Lindstrom, the newly elected chairperson of Oncologix Tech, Inc. (OTCBB: OCLG), released the following statement today:

"Although we have suspended operations due to insufficient capital, all those with an interest in our Company should be assured that the officers and directors are continuing efforts to raise funds or enter into arrangements to permit us to resume the development of the Oncosphere product. Testing to date has demonstrated that Oncosphere provides features sought by physicians and patients, such as improved predictability of radiation and microsphere content and the ability to image the treatment post delivery. We remain convinced that the Oncosphere product is an important advancement for microsphere brachytherapy and patients with liver cancer."

Our current board (whose backgrounds are listed below) is actively engaged in and committed to Oncologix and the Oncosphere project.

JUDY LINDSTROM was Chief Operating Officer of the U.S. division of Portland Orthopedics. A privately held company headquartered in Sydney, Australia. She has also been a director and business consultant for Genis, a private company in Iceland, developing bone regeneration technology. Ms. Lindstrom was Executive Vice President, Global Sales and Marketing, for Wright Medical Technology, Inc. She was President and Chief Executive Officer of Neovision. Ms. Lindstrom was President for MicroAire Surgical Instruments, Inc. Ms. Lindstrom also served as General Manager for two operating divisions of Baxter International, V. Mueller Endoscopy and Edward Orthopedics. She was the first woman promoted to General Manager for a Baxter operating unit. Ms. Lindstrom served on the board of directors of Everest Medical Corporation (a NASDAQ listed company prior to its acquisition in April 2000), Novoste (a NASDAQ listed company) and served on the board of AdvaMed (formerly the Health Industry Manufacturers Association).

ANDREW KENNEDY, MD, FACRO, is co-medical director for Wake Radiology Oncology Services in Cary, North Carolina, where he has been since 2002 and where his primary activity is providing patients with treatments for cancer, specializing in gastrointestinal cancers, as well as cancers of the breast, lung and cervix. From 1997 until 2002, he was an associate professor in the Radiation Oncology and head of GI radiation oncology at The University of Maryland School of Medicine, and Residency program director. He is an internationally known radiation oncologist and lectures worldwide on radiation therapy for the treatment of liver cancer. He was instrumental in reintroducing microsphere therapy and developed the most commonly used clinical protocol in the U.S. for infusion of microspheres. His research program is the recipient of more than $900,000 in research grants to further investigate this and other cancer treatments. He has written many peer-reviewed scientific papers, articles, book chapters and abstracts on radiation oncology. He is a graduate of Loma Linda School of Medicine, in Loma Linda, California, and completed his residency at The University of North Carolina at Chapel Hill, where, as chief resident, and later a research fellow, he completed significant work in three-dimensional treatment planning (3D external beam radiation therapy) and radiobiology research.

STEVEN KURTZMAN, MD, has been an advisor to our Company and has been the Medical Director of IsoRay Medical, Inc. a publicly traded company since January 2006. IsoRay manufactures and markets radiation devices for brachytherapy primarily for the treatment of prostrate cancer. He has also been Medical Director of Xoft Microtube, Inc. since January 2007. Xoft manufactures miniaturized x-ray tubes for use in High Dose Rate Brachytherapy applications. He has, since 1998, been practicing medicine in the San Francisco, California, Bay area specializing in radiation oncology. He is currently the Director of Brachytherapy for Western Radiation Oncology, P.C. He is considered an expert in the management of prostate cancer and has lectured on and taught prostate brachytherapy nationally. He holds a BA from Cornell University and is a graduate of Case Western Reserve University School of Medicine. He completed his residency training in radiation oncology at the Hospital of the University of Pennsylvania.

ANDREW M. GREEN has 15 years of experience in medical devices. He most recently was President and Chief Executive Officer for Oncologix Tech, Inc. until the suspension of operations activities. Previously, since June 2005, he was a principal in NeoMedica, LLC, a consulting group that specialized in executive level medical device consulting for clients that included early stage ventures dealing with Class III devices involving cardiology, ophthalmology, orthopedics, and electrophysiology. Prior to that, from 1996 until 2005, he was employed by the Novoste Corporation (a publicly traded medical device company). His final position with Novoste was as a corporate officer with responsibility for Regulatory Affairs, Clinical Affairs, Quality Assurance and New Technology/Business Development. From 1993 until his employment with Novoste, he was employed as a Scientific Reviewer/Biomedical Engineer for the FDA, where he was responsible for the review of scientific, technical, pre-clinical and clinical data submitted in support of the safety and effectiveness of both interventional and general cardiovascular devices. He holds a BS degree in Biological Sciences and an MS degree in Bioengineering, both from Clemson University, where his research focused on characterization and use of materials in a biological environment.

ADAM G. LOWE has over 20 years of experience in medical devices. He most recently was Vice-President and Chief Operating Officer for Oncologix Tech, Inc. until the suspension of operations activities. Previously, since June 2005, he and Mr. Andrew Green (see above) were employed by NeoMedica, LLC, a consulting group owned by them, that specialized in executive level medical device consulting for clients that included early stage ventures dealing with Class III vascular brachytherapy devices involving cardiology, ophthalmology, orthopedics, and electrophysiology. Prior to that, from 1999, he was employed by the Novoste Corporation (a publicly traded medical device company) as a corporate officer in the areas of Quality Assurance, Regulatory Affairs and Operations dealing with Class III vascular brachytherapy devices. Before his employment by Novoste, he was employed by C.R. Bard, Inc. and Johnson & Johnson the area of quality and design assurance with his last position being that of Vice-President, Quality. He holds a BS-Materials Science and Engineering degree with a concentration in polymer science from North Carolina State University.

BARRY GRIFFITH brings 15 years of early stage and upstart medical device company experience to Oncologix. Mr. Griffith has been involved in the introduction of novel medical devices in the Orthopedic, Vascular, Neurological and Cancer markets for companies such as Mitek, Schneider, Novoste and Medtronic. His present position is Northeast Area Sales Manager with Cardiovascular Systems Inc. Prior to that, he was Director of Sales for Calypso Medical Technologies and held the Western Area Director roles with Novoste and Isoray. Isoray is introducing the new Prostate Brachytherapy Isotope Cesium 131.

About Oncologix Tech, Inc. and its subsidiary, Oncologix Corporation:

Oncologix Tech, Inc. (formerly BestNet Communications Corp.) was formerly a provider of long distance telephone communication services but disposed of that business in January 2007.

The Company is developing a brachytherapy (radiation therapy) device, the Oncosphere System, for the advanced medical treatment of soft tissue cancers. It is based on radioactive microparticles designed to deliver therapeutic radiation directly to a tumor site by introducing the microparticles into the artery that feeds the tumor tissue.

This release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the "safe harbor" created thereby. These statements include the plans and objectives of management for future operations, including plans and objectives. The forward-looking statements herein are based on current expectations that involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond control of the company. Although the company believes that the assumptions underlying the forward-looking statements are reasonable, any one of the assumptions could be inaccurate and, therefore, can be no assurance that the forward-looking statements included in this release will prove to be accurate.

Contact Information

  • Contacts:
    Andrew Green
    Chief Executive Officer
    Tel: (770) 831-8818

    Michael Kramarz
    Chief Financial Officer
    Tel: (616) 977-9933