HOUSTON, TX / ACCESSWIRE / July 5, 2018 / Oncolix, Inc. (OTCQB: ONCX) (the “Company”), a biotechnology company focused on gynecological cancers, announced that Andrew Scott has joined the Company as its Vice President of Corporate Development.
“Andrew is a seasoned veteran that understands the important roles of Investor Relations, banking relationships and raising capital,” said Michael T. Redman, president and chief executive officer of Oncolix. “We are counting on Andrew to help take the company from its current status to a NASDAQ-listed company in 2019. His knowledge of the investment community should help Oncolix navigate potential capital raises, strategic alliances and expand awareness in the investor community with a planned future uplisting.”
Mr. Scott has approximately 20 years as an Investment Banker. His focus over the past eight years has been on small companies in the life sciences area. During his career, he completed over $700 million in financings for healthcare and life science companies. His focus has been guiding companies restructure, raise capital, collaborations, and both in-licensing and out-licensing assets.
Andrew commenced his career as a Wall Street analyst at Bear Stearns & Company and held senior positions at Maxim Group LLC and Fortress Biotech. He holds a Bachelor of Science degree in Accounting from Pace University. Mr. Scott maintains series 7, 24, and 63 securities licenses.
“I am pleased to be working with Mr. Redman and the rest of the Oncolix team,” stated Mr. Scott. “Prolanta is a compelling early-stage drug candidate that has significant potential to draw interest from a multitude of different parties. The Company’s small market cap makes this opportunity very intriguing.”
Oncolix is a clinical-stage biotechnology company developing Prolanta™ for the treatment of ovarian, uterine, breast and other cancers. The Company has a US FDA-cleared IND to commence human testing of Prolanta™ in its first indication, the treatment of ovarian cancer. This Phase 1 clinical trial is currently in progress. Prolanta™ is a prolactin receptor antagonist (or blocker) that has demonstrated efficacy in xenograft models through a unique mechanism of action, autophagy. In addition to ovarian cancer, there is strong preclinical evidence Prolanta™ may be effective in breast, prostate and other cancers. In the current Phase 1 dose-escalation safety trial for the treatment of ovarian cancer, to date there have been no observed serious adverse events and no dose-limiting toxicities in the first cohort of patients. The FDA has approved the designation of Prolanta™ as an Orphan Drug for the treatment of ovarian cancer, which may result in reduced filing fees (currently $2 million), federal tax credits and marketing exclusivity.
SOURCE: Oncolix, Inc.