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HedgePath Pharmaceuticals, Inc. Completes Reorganization Plan with Commonwealth Biotechnologies
Date:8/19/2013

nts of the company's reorganization plan have now been implemented (including the payment in full of all company creditors), the company will be moving in the coming weeks to formally close its bankruptcy case.  As part of the reorganization, existing CBTI stockholders retain an aggregate 10% interest in HPPI.

Additional details regarding this transaction and HPPI's business plan going forward will be provided in a Current Report on Form 8-K to be filed by the company with the Securities and Exchange Commission.

Nicholas J. Virca, HPPI's President and Chief Executive Officer, stated, "Over the last 18 months, our team has been exploring the clinical potential of itraconazole as a treatment for cancer.  Since itraconazole is already an FDA approved drug, we believe that the potential exists for a more expedited regulatory approval due to this drug's well established efficacy and toxicity profile for use in humans to treat fungal infections.  We are further encouraged by the recently reported third party Phase II data demonstrating itraconazole's anti-cancer effects in humans.  By operating as a public company, we are hopeful that we will be able to attract the necessary funding to properly explore this potential new treatment for cancer patients." 

"On behalf of the new board and management team of HedgePath Pharmaceuticals, I am most pleased that we are now able to launch our anti-cancer efforts via this new public entity, and we look forward to keeping our public stockholders updated on our development programs and clinical progress," concluded Mr. Virca.

About HedgePath Pharmaceuticals

HedgePath Pharmaceuticals, Inc. is a clinical stage biotechnology company which is developing anti-cancer applications by re-purposing the FDA approved antifungal pharmaceutical itraconazole.  The Hedgehog signaling pathway is a major regulator of cellular processes in vertebrates, includi
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SOURCE HedgePath Pharmaceuticals, Inc.
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