“The merger of GT Biopharma, Inc. (Oxis) and GTP will greatly accelerate the clinical development of exciting new treatments to meet the medical needs of those suffering from cancer and neurologic diseases,” said Dr. Clarence-Smith.
“The additions of the GTP pipeline and CEO Dr. Kathleen Clarence-Smith along with our new incoming CMO (formerly Chief Medical Officer, Oncology at Pfizer, Inc. (NYSE:PFE), will be instrumental in completing GT Biopharma/Oxis FDA phase 2 clinical trial and advance the highly sought after TriKE oncology platform technology from Dr. Jeff Miller of the University Of Minnesota Masonic Cancer Clinic.
Additionally, we are very excited with the incoming GTP product pipeline, which adds significant value with the fast pathway of central nervous system products as they continue to move towards commercial license.”
GT Biopharma Chairman and CEO Tony Cataldo stated, “There is a lot going on inside GT Biopharma (Oxis) and it is better to speak with our shareholders and market participants so everyone can understand what all of the excitement is about. Kathleen and I are pleased to make ourselves available to discuss the rationale of this merger.”
Shareholders and interested parties are invited to participate in the conference call hosted by www.biotechstocks.com. The call will start promptly at 4:15pm EST on Wednesday, August 16, 2017. The dial in number for the call is 712-775-7031. Meeting ID number is 576-591-822.
About GT Biopharma, Inc.: GT Biopharma, Inc (formerly known as Oxis International, Inc.) is an immuno-oncology focused company developing innovative drugs focused on the treatment of cancer and other unmet medical needs. Oxis’ lead drug candidate, OXS-1550 (DT2219ARL) is a novel bispecific scFv recombinant fusion protein-drug conjugate composed of the variable regions of the heavy and light chains of anti-CD19 and anti-CD22 antibodies and a modified form of diphtheria toxin as its cytotoxic drug payload. OXS-1550 targets cancer cells expressing the CD19 receptor or CD22 receptor or both receptors. When OXS-1550 binds to cancer cells, the cancer cells internalize the drug and are killed due to the action of drug’s cytotoxic payload. OXS-1550 has demonstrated success in early human clinical trials in patients with relapsed/refractory B-cell lymphoma or leukemia. OXS-3550 TriKE technology was developed by researchers at the University of Minnesota Masonic Cancer Center. As demonstrated in non-clinical models, this targeted immunotherapy directs immune cells to kill cancer cells while diminishing drug-related toxicity.
About GTP Inc.: GTP is a privately-owned biotechnology company focused on acquiring or discovering and patenting late-stage, de-risked, and close-to-market improved treatments for CNS disease (Neurology and Pain) and shepherding the products through the FDA approval process to the NDA. GTP products currently include treatment for neuropathic pain, refractory epilepsies, the symptoms of myasthenia gravis, and motion sickness.
Forward-Looking Statements: Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently unreliable and actual results may differ materially. Examples of forward-looking statements in this news release include statements regarding the payment of dividends, marketing and distribution plans, development activities and anticipated operating results. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as the Company’s ability to accomplish its business initiatives, significant fluctuations in marketing expenses and ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of its products and services, as well as the introduction of competing products, or management’s ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and other information that may be detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.