SOURCE: Cancer Therapeutics, Inc.

June 22, 2009 12:32 ET

Cancer Therapeutics Names Savvy Financial Expert and Active Investor to Its Newly Formed Advisory Board

SALT LAKE CITY, UT--(Marketwire - June 22, 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 R. Paul Gray to its Advisory Board.

Mr. Gray is an active early stage investor and strategic consultant to numerous development stage companies. He is an audit committee financial expert as defined under the rules and regulations of the Securities and Exchange Commission (SEC) and meets the financial sophistication requirements of the listing standards of the NASDAQ.

Mr. Gray currently is the Managing Member of Core Concepts, LLC, a strategic and financial consulting firm which he founded in 2002. Mr. Gray has been a member of the Board of Directors of United Therapeutics Corporation since 2003 and currently serves as Chairman of their audit committee and member of the compensation committee. He also is Chairman of the Board of several companies in which he has invested. From 1985 to 1999, Mr. Gray practiced as a Certified Public Accountant at Ernst & Young LLP, KPMG LLP and Beers & Cutler LLP. Mr. Gray has served as an Officer and/or Chief Financial Officer for his client's and portfolio companies from time to time.

"Mr. Gray has a passion to the advancement and development of life-changing and paradigm shifting technologies and has actively invested his time and money to this pursuit and related opportunities; he is a welcomed addition to our Advisory Board," said Chene Gardner, President and CEO of Cancer Therapeutics, Inc. "We are very enthusiastic about the input Mr. Gray will provide as we continue to move Cancer Therapeutics forward."

The Company also announced today that its shares have been approved for electronic transfer with the Depository Trust Corporation and may be purchased and sold through electronic trading platforms.

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
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