HedgePath Pharmaceuticals, a clinical stage biopharmaceutical company that discovers, develops and plans to commercialize innovative therapeutics for patients with cancer, has announced that Stefan J. Cross, Dr. R. Dana Ono and W. Mark Watson, CPA, have been appointed to HedgePath's board of directors.
Cross is president of the U.S. subsidiary of Mayne Pharma. Previously, he was vice president, Business and Corporate Development of Mayne Pharma's primary operating company, where he was responsible for all in-licensing and out-licensing programs and research and development partnerships. Through HedgePath's recently finalized Supply and License Agreement transactions with Mayne Pharma, Mayne Pharma has the right to appoint a member of HedgePath's board of directors.
Ono is a co-founder and since 2000 has been a venture partner of the VIMAC Milestone Medica Fund, a Boston-based early-stage life sciences fund co-sponsored by VIMAC Ventures and RBC Technology Ventures. Ono has 30 years of experience in managing public and private life science companies, including five years as president and CEO of IntraImmune Therapies, which was sold to Abgenix.
Watson is a Certified Public Accountant with over 40 years experience in public accounting and auditing, having spent his entire career at Deloitte Touche Tohmatsu and its predecessor, most recently as Central Florida Marketplace leader. He is expected to be chairman of the Audit Committee of HedgePath's board of directors.
Nicholas J. Virca, HPPI's president and CEO, who will report in his executive officer capacities to the newly constituted board, has voluntarily resigned his position as a board member.
HedgePath is working toward an anticipated 2014 filing of an IND Application aimed at securing FDA approval to begin a corporate-sponsored clinical trial with HedgePath's primary drug candidate, SUBA-Itraconazole for the treatment of basal cell carcinoma (BCC), and to commence and conduct such trial. HPPI holds the exclusive U.S. rights to SUBA-Itraconazole from Mayne Pharma for the treatment of cancer. Mayne Pharma also will supply SUBA-Itraconazole for HedgePath's currently contemplated and future clinical trials.