San Francisco, CA, Oct. 08, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Oncology Pharma Inc. is pleased and honored to announce that Stefan Gruenwald (MD, PhD), cofounder and president of Diagnomics Inc., has been elected to Oncology Pharma’s supervisory board of directors. Dr. Stefan Gruenwald is a former VP of Research and Development at Becton Dickinson, a conglomerate with a current market capitalization of approximately $68 Billion. He is the co-founder and managing partner of Genautica, established in December of 2010. Genautica is a California LLC located in close proximity to the Biotech Hub of San Diego.
Dr. Stefan Gruenwald, through Genautica, has seed-funded Diagnomics, a biotech company employing a highly qualified team of scientists, including early pioneers in sequencing the human genome. Through its investment in Diagnomics, Genautica has also been a co-founder and early investment partner of the EONE-Diagnomics Genome Center (EDGC) in Korea, which went public in 2018 on KOSDAQ, the major Korean tech stock market for over 400 Million USD. Part of the IPO proceeds have been used to buy a female health clinic (10,000 patients), build an R&D center in Songdo, Korea, housing 14 biotech and pharmaceutical companies, acquiring one of the major diagnostics distribution companies and expanding the clinical genome center approach to various countries in Asia. EDGC has grown rapidly and annual revenues for 2019 are predicted to be around 50 million USD.
Chuck Wagner, President of Oncology Pharma Inc., commented: “Oncology Pharma conducted an exhaustive search to strengthen the board of directors’ breadth of background and talent. I am delighted to have such an outstanding individual join the board to contribute to our mission, vision and goal of the company. Dr. Stefan Gruenwald is a pioneer with more than thirty years of experience in the biotechnology space and brings vast knowledge and experience in both the clinical, scientific and business fields to the company."
"I am very excited to join the Board of Directors of Oncology Pharma," said Dr. Gruenwald. "I've been involved in biotech for over a quarter of a century and I'm truly thrilled about this amazing opportunity to help this company to evolve into a world-wide leader in its space."
ABOUT ONCOLOGY PHARMA, INC.
ONCOLOGY PHARMA, INC. (OTCPK: ONPH) (the "Company") is a pioneering oncology company dedicated to developing, manufacturing, and commercializing therapeutics. The Company has licensed Tulynode's patent pending Autologous Immuno-therapy for durable therapy response using an extracorporeal device. The Company is currently engaging in research and development of therapeutics for oncology, and prides itself for having a world-class Advisory Board that keeps the Company in the forefront of developing technologies in cancer research, biotechnology, and healthcare.
FORWARD LOOKING STATEMENTS
Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks to and uncertainties in the Company's business that may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include risks related to licensing arrangements and joint ventures, including the need to negotiate the definitive agreements for the relationships; possible failure to realize anticipated benefits of business relationships; and, costs of providing funding to these business relationships. Other risks and uncertainties relating to the Company include, among other things, current negative operating cash flows and a need for additional funding to finance our operating plan; the terms of any further financing, which may be highly dilutive and may include onerous terms; unexpected costs and operating deficits, and lower than expected sales and revenues; uncertain willingness and ability of customers to adopt new technologies and other factors that may affect further market acceptance; adverse economic conditions; adverse results of any legal proceedings; the volatility of our operating results and financial condition; inability to attract or retain qualified senior management personnel, including sales and marketing personnel; our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary marketing and/or distribution partners and with any strategic or joint venture partners; the impact of competition; the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; management of growth; and, other risks and uncertainties. This is not a solicitation to buy or sell securities and does not purport to be an analysis of the Company's financial position.