NEW YORK, Nov. 11 /PRNewswire/ -- Cynvec LLC, a privately-held biopharmaceutical company focused on developing novel cancer therapies that harness the apoptotic ability of the Sindbis viral vector, announced today that it has appointed Frank D. Stonebanks President and Chief Executive Officer, effective immediately, to lead the company's next phase of growth. In addition to his role as CEO, Mr. Stonebanks will serve on Cynvec's Board of Directors.
Over the last two decades, Mr. Stonebanks has raised significant equity capital, completed numerous transactions and licensing deals, facilitated the acceleration of new products and led domestic and global launches and commercial strategies across multiple therapeutic areas, holding senior posts at IBM, Johnson & Johnson, sanofi aventis and Nabi Biopharmaceuticals, in mergers and acquisitions, venture investing, business and corporate development, domestic and global marketing, senior advisory and general management.
"Frank brings a remarkably consistent track record of accomplishment in building start-ups into successful companies," said Steve Blumenthal, Cynvec's Chairman of the Board. "He is a proven leader who will serve as the foundation of our management team to advance our promising preclinical compounds into the clinic."
Cynvec is currently developing therapies to treat a number of tumor types, including ovarian, pancreatic, gastrointestinal, liver, colorectal, and other cancers where the laminin receptor is over-expressed. Its lead product, CYN 101, is in late-stage pre-clinical development, and has shown statistically significant survival rates in both ovarian and pancreatic cancer tumor models. The company's technology was originally developed at NYU School of Medicine and represents a unique approach with numerous commercial applications. The company was founded in 2004 and has raised $8 million to date.
"I joined Cynvec based on the promise of the company's proprietary
|SOURCE Cynvec LLC|
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