SOURCE: Cancer Therapeutics, Inc.

September 30, 2009 09:00 ET

Cancer Therapeutics Names Dr. Mark Kester to Advisory Board

Prestigious Nanotechnology Expert Joins Company in Advisory Capacity

SALT LAKE CITY, UT--(Marketwire - September 30, 2009) - Cancer Therapeutics, Inc. (OTCBB: CTHP), an emerging biotechnology business incubator with a specific emphasis on disruptive cancer treatments and nanotechnology, announced today it has named Dr. Mark Kester to its Advisory Board. Dr. Kester is the G. Thomas Passananti Professor of Pharmacology at Penn State Hershey College of Medicine. He becomes the latest member of the company's board and joins Caroline V. Corner, PhD.

"Dr. Kester will be a vital part of our newly formed board due to his exceptional expertise with nanotechnology as well as his creation and development of innovative medical techniques," said Chene Gardner, President and CEO of Cancer Therapeutics, Inc. "Dr. Kester's combined experience as a doctor, author, researcher and businessman are ideally suited for this role. We are anxious to get him involved with the ongoing development of our company."

Before accepting his prestigious endowed professorship, he was a Distinguished Professor of Pharmacology as well as Interim Chair of Pharmacology. Dr. Kester's research interests include the design, characterization and validation of nanotechnologies for targeted drug delivery. His laboratory has evaluated nanoliposomes, nanodendrimers and nanocolloids as effective drug delivery vehicles for pharmacological and molecular agents. Recent work focuses on nontoxic nanoscale systemic delivery systems for hydrophobic pro-apoptotic lipids as well as siRNAs that target mutated tumorigenic proteins.

Dr. Kester's research regarding a molecule called ceramide has led to the development of a drug-eluting device that locally delivered ceramide to prevent restenosis (reblockage) after coronary angioplasty or stenting. The ceramide-coated catheter and stent ushered in the field of ceramide therapeutics. Dr. Kester's technology was licensed to REVA Medical, Inc. in San Diego CA., a Group Outcome- and Domain Partners-backed company. Dr. Kester was instrumental in sublicensing the ceramide-coated balloon catheter technology to Edward Life Sciences, CA for treatment of injured large arteries. REVA Medical partnered with Boston Scientific, MA to commercialize CASPERTM, the friendly resorbable stent that could deliver drugs with defined kinetics. Dr. Kester is still a consultant for REVA Medical and along with Penn State Research Foundation is a stock-holder.

Dr. Kester along with Dr. James Adair, Director of the National Science Foundation Particulate Material Center at Penn State, invented the NanoJacket, a non-toxic non-aggregating shell that cages and protects drugs, such as ceramide. Dr. Kester founded Keystone Nano, Inc., University Park, PA to commercialize the technology. Dr. Kester helped form two "sister" companies to exploit specific attributes of the NanoJacket technology. One of these companies, NanoSpecialities, has partnered with Nalco, Inc, Naperville IL, a $3 billion marketcap chemical company, to utilize NanoJackets in non-medical industrial applications. This joint venture has generated over $3 million in funding and is expecting a multimillion dollar product by 4th quarter 2009. The second sister company is NanoTherapeutics, Va, which is developing NanoJackets for both drug delivery and bioimaging of leukemias and lymphomas.

Dr. Kester has consulted for numerous industrial, pharmaceutical and academic organizations through his company NanoMyte, Inc. In addition, Dr. Kester is an acclaimed author, as his textbook Integrated Pharmacology, published by Elsevier, Ltd. was just recognized as "highly commended textbook" of 2009 by the British Medical Society.

About Cancer Therapeutics, Inc.:

Cancer Therapeutics, Inc. is a biotechnology business incubator, with a specific emphasis on disruptive treatments and nanotechnology. It seeks out disruptive cancer research and technology opportunities to invest in, develop, and commercialize. The end result will be therapies, treatments, and pharmaceuticals targeted at more efficiently and effectively attacking cancer. CTI seeks partners to co-develop drugs in various stages in our pipeline.

Safe Harbor: This letter contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.

Contact Information

  • Contact:
    Investor Relations
    David Donlin
    Cervelle Group
    Phone: 407-614-5959 ext. 223