Navigation Links
Cynvec LLC(SM) Appoints Former Johnson & Johnson Executive Frank D. Stonebanks as President and Chief Executive Officer
Date:11/11/2008

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 Sindbis platform technology, which has produced novel anti-cancer drug candidates that overcome the limitations of current treatments," said Mr. Stonebanks. "Our drug candidates have been shown to not only inhibit the growth and spread of tumors, but also significantly enhance survival in preclinical studies. I look forward to working with Chief Operating Officer Richard Purcell and our outstanding team to advance these promising compounds with the goal of advancing our first product candidate into the clinic during 2009."

Prior to joining Cynvec, Mr. Stonebanks led the global healthcare & life science mergers and acquisitions efforts at IBM, advising the company on its healthcare and life science strategy. He was previously Vice President and General Manager at Johnson & Johnson where he co-founded and ran The Macroflux(R) Corporation, a private drug delivery company spun out from Johnson & Johnson in October 2006 through a $100 million deal funded by a syndicate of venture and private equity investors. Before J&J, Mr. Stonebanks founded and served as executive director and leader of the Oncology Biologics Business Unit at Centocor, a unit in the Global Marketing group that integrated marketing, medical affairs, market research and health outcomes.

Mr. Stonebanks completed his undergraduate degree in Exercise Physiology at the University of Victoria, B.C., Canada and his MBA in Pharmaceutical Marketing at St. Joseph's University in Philadelphia.

About Cynvec LLC

Cynvec was founded in 2004 and is a development stage biotech company based in New York City. The Company is focused on developing Sindbis-based viral vectors as standalone oncolytic therapeutics, delivery systems for monoclonal antibodies and cytokines as well as cancer diagnostic products. The Sindbis vector system, originally developed at NYU School of Medicine, represents a unique, patented platform technology for numerous commercial applications. The company is developing therapies to treat a number of tumor types, including ovarian, pancreatic, GI, liver, colorectal, and other cancers where the laminin receptor is overexpressed. The Company's lead product, CYN 101, is in late pre-clinical development, and has shown statistically significant survival rates in both ovarian and pancreatic cancer models. Further information on Cynvec can be found at http://www.cynvec.com.


'/>"/>
SOURCE Cynvec LLC
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Kendle Reappoints Former CFO Timothy M. Mooney to Board of Directors
2. NutraCea Appoints New Chief Financial Officer
3. Cardiac Science Appoints Dave Marver as Chief Operating Officer
4. Nutrition 21 Appoints Pam McWilliams, Vice President - General Manager of Direct Response
5. Senesco Appoints Harlan W. Waksal, M.D., to Board of Directors
6. Boston Healthcare Appoints Adam Barak as Vice President Enhancing Its International Pricing and Reimbursement Capability
7. Nikon Instruments Appoints LABSCO its Clinical Distributor in Six States
8. China Pharma Holdings, Inc. Appoints The Ruth Group
9. Althea Technologies Appoints Dr. Shabbir Anik as Chief Executive Officer
10. GeneNews appoints Patrick Terry as lead strategic advisor for U.S. commercialization of ColonSentry(TM)
11. Axial Biotech Appoints Retired Roche Diagnostics Executive to Board
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/27/2016)... , ... May 27, 2016 , ... Weeks after hosting ... in Phoenix, Dr. Michael Fitzmaurice, hand surgeon and founder of the Fitzmaurice Hand Institute, ... The Wrist MRI machine is a state-of-the-art technology and only 1 of about 3 ...
(Date:5/27/2016)... At present, the Biotech sphere is in a ... volatility is what makes this industry interesting to consider. Here ... (NASDAQ: SNTA ), CTI BioPharma Corp. (NASDAQ: ... and Heat Biologics Inc. (NASDAQ: HTBX ). Sign ... these stocks at: http://www.activewallst.com/register/ ...
(Date:5/26/2016)... Despite the volatility that continues to envelop the ... research on ActiveWallSt.com directs the investor community,s focus on the ... ), Cerus Corp. (NASDAQ: CERS ), Arrowhead Pharmaceuticals ... Inc. (NASDAQ: FPRX ). Register with us today ... On Wednesday, shares in Massachusetts ...
(Date:5/25/2016)... ... May 25, 2016 , ... Lajollacooks4u has become a rising hotspot ... rated one of its top attractions. Fortune 500 companies, such as Illumina, Hewlett-Packard, ... unique and intimate team-building experience. , Each event kicks off with an olive oil ...
Breaking Biology Technology:
(Date:3/15/2016)... New York , March 15, 2016 ... new market report published by Transparency Market Research "Digital Door ... Trends and Forecast 2015 - 2023," the global digital door ... US$ 731.9 Mn in 2014 and is forecast to grow ... 2023. Growth of micro, small and medium enterprises (MSMEs) across ...
(Date:3/11/2016)... , March 11, 2016 ... market research report "Image Recognition Market by Technology (Pattern ... and Advertising), by Deployment Type (On-Premises and Cloud), by ... 2022", published by MarketsandMarkets, the global market is expected ... USD 29.98 Billion by 2020, at a CAGR of ...
(Date:3/9/2016)... Fla. , March 9, 2016  Crossmatch ... authentication and enrollment solutions, today announced the addition ... ® Altus multi-factor authentication platform. New ... InfoSec managers to step-up security where it,s needed ... Washington, DC . --> ...
Breaking Biology News(10 mins):