|By Marketwired .||
|December 20, 2013 04:21 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 12/20/13 -- SignalChem Lifesciences Corporation ("SLC" or the "Company") developers of First-in-Class kinase oncology drugs is pleased to announce the successful appointment of Darren Z. Ready to the position of Chief Financial Officer. Mr. Ready has had a successful career in the biotechnology and health services sectors, most recently as the Chief Financial Officer at Perceptronix Medical Inc., a private biotechnology company that developed and commercialized a DNA image cytology device focused on early cancer detection. Responsible for all financial aspects of the company, he also played a key role in developing the international commercial roll-out plan. Prior to this, Mr. Ready was Director of Finance at WEX Pharmaceutics, a drug discovery company listed on the TSE. Additionally, he has RTO/IPO experience having played a key role in this process for a health services software company. Mr. Ready has a Bcom in International Business from the University of Victoria and is a Certified Management Accountant.
"As we enter into a new phase of growth in 2014, SLC intends to secure additional capital investment to begin the development and commercialization process for many of our oncology programs by initiating Phase I trials for CAIX program and starting pre-clinical work on 4 kinase programs," said Dr. Jasbinder Sanghera, President and CEO. "Darren will be invaluable to this process bringing with him a comprehensive understanding of the oncology space and a broad range of skills from public and private financings. His international commercialization experience will also help us succeed in reaching global markets."
"I have been most impressed with not only the quality but also the quantity of kinase assets SLC possesses," remarked Darren. "Often times, the challenge with therapeutic companies is a limited development pipeline; this is not the case with SLC as the pipeline will continue to deliver new and exciting therapies to the market for years to come."
SignalChem Lifesciences Corporation is a privately owned biopharmaceutical company specializing in the discovery and development of kinase inhibitors as innovative therapies for cancer, inflammation and neurological diseases. The Company has a robust kinase platform encompassing 450 kinase targets and assays for the development and commercialization of unique therapies in many diseases. This vast resource empowers SLC's scientists to identify novel drug candidates against kinase targets of interest. Another key part of SLC's kinase drug development platform is KineCore, a kinase focused small molecule library that was designed and assembled in-house. For more information, refer to the Company's website at www.signalchemlifesciences.com.
About Kinase Inhibitors
Defects in kinases account for numerous medical conditions including cancer, inflammation and neurological diseases. Kinase inhibitors account for one of the fastest growing market segments in the therapeutic market place. Since the first kinase inhibitor Imatinib, was approved by FDA in 2001, 25 kinase inhibitors have been approved for the treatment of cancers and RA. In total, including upfront fees, milestones and royalty structures, kinase deals in excess of $15bn have been completed in the last 8 years alone.
Forward-Looking Statements and Information
This release contains forward-looking statements that are not based on historical fact. These forward-looking statements involve risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements.