I love it when the old leave and they bring in fresh meat. This means they are ready to take it to the next level.wiczked!~
Lorus Therapeutics Inc - News Release
Lorus appoints Campbell as interim chairman
Lorus Therapeutics Inc LOR
Shares issued 120,945,940 2001-01-18 close $1.84
Friday Jan 19 2001 News Release
Dr. Jim Wright reports
Peter J. Campbell, former president of Connaught Laboratories Limited and a long-time member of Lorus's board of directors, has been appointed interim chairman of the board. Mr. Campbell replaces Philippe G. Lacaille, who announced his intention to resign his positions as Lorus' chief executive officer, chairman of the board and board member at the company's annual general meeting in November, 2000.
Dr. Jim A. Wright, president of Lorus, will continue to lead the Lorus management team in day-to-day operations while sustaining progress on strategic objectives and milestones. The review process for a new chief executive officer is underway and is progressing well.
Mr. Lacaille's decision to resign from Lorus at this time reflects his confidence in the company and his desire to pursue other opportunities. Mr. Lacaille will continue to contribute to the company in an advisory capacity.
Lorus, with a strong cash position of $52-million, expects to have at least five clinical trials underway in 2001 and will be in a position to take advantage of its exceptional product pipeline in discussions with potential partners and collaborators.
The following is a brief overview of the status of three of the company's lead drugs:
Virulizin:
Virulizin for the treatment of pancreatic cancer will enter phase III clinical trial in midyear 2001.
On Jan. 9, 2001, Lorus announced positive preclinical findings for Virulizin in the treatment of human breast cancer tumours in mouse models.
GTI-2040:
GTI-2040 is presently in a phase I clinical trial and will enter multiple phase II clinical trials in second quarter 2001.
GTI-2501:
Toxicology studies with GTI-2501 have been successful and the drug will enter phase I clinical trial in first quarter 2001.
WARNING: The company relies upon litigation protection for "forward-looking" statements.
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