VANCOUVER and HOUSTON, TX, Oct. 18,
2019 /CNW/ - ESSA Pharma Inc. ("ESSA" or the
"Company") (TSX-V: EPI, NASDAQ: EPIX), a pharmaceutical
company focused on developing novel therapies for the treatment of
prostate cancer, announces that Ari
Brettman has been appointed to the board of the directors of
the Company (the "Board") pursuant to a nomination right
granted to Clarus Lifesciences III, L.P., now managed by Blackstone
Life Sciences. The Company also announces that Otello Stampacchia, who has represented Omega
Funds, has resigned from the Board as he focuses on new
investments.
David R. Parkinson, President and
Chief Executive Officer, said, "We are extremely appreciative of
Otello's support as a member of the Board of Directors. Ari's
perspectives will be valuable as we execute on the path towards a
successful IND filing of EPI-7386."
Dr. Brettman is currently a Principal in the Blackstone Life
Sciences group, having joined Blackstone as part of its acquisition
of Clarus in December of 2018. Dr. Brettman joined Clarus in
September 2014. Dr. Brettman is
currently a member of the Board of Directors of Praxis Precision
Medicines and Anthos Therapeutics as well as an Observer on the
Board of Directors of Talaris Therapeutics.
Dr. Brettman completed a residency in internal medicine and a
fellowship in cardiology at Massachusetts General Hospital ("MGH")
and was also a National Institutes of Health-sponsored
post-doctoral fellow at the MGH Center for Systems Biology. He
received his M.D. from Duke University
and his A.B. in History and Science from Harvard College. While a medical student, he was
a Sarnoff Cardiovascular Research Foundation Fellow at Stanford University, where he studied
angiogenesis.
About ESSA Pharma Inc.
ESSA is a pharmaceutical company focused on developing novel and
proprietary therapies for the treatment of castration-resistant
prostate cancer in patients whose disease is progressing despite
treatment with current therapies. ESSA's proprietary "aniten"
compounds bind to the N-terminal domain of the androgen receptor
("AR"), inhibiting AR driven transcription and the AR
signaling pathway in a unique manner which bypasses the drug
resistance mechanisms associated with current anti-androgens. The
Company is currently progressing IND-enabling studies and expects
to file an IND with the FDA for EPI-7386 in the first calendar
quarter of 2020. For more information, please visit
www.essapharma.com or follow us on Twitter under @ESSAPharma.
About Prostate Cancer
Prostate cancer is the second-most commonly diagnosed cancer
among men and the fifth most common cause of male cancer death
worldwide (Globocan, 2018). Adenocarcinoma of the prostate is
dependent on androgen for tumor progression and depleting or
blocking androgen action has been a mainstay of hormonal treatment
for over six decades. Although tumors are often initially sensitive
to medical or surgical therapies that decrease levels of
testosterone, disease progression despite castrate levels of
testosterone generally represents a transition to the lethal
variant of the disease, metastatic CPRC ("mCRPC"), and most
patients ultimately succumb to the illness. The treatment of mCRPC
patients has evolved rapidly over the past five years. Despite
these advances, additional treatment options are needed to improve
clinical outcomes in patients, particularly those who fail existing
treatments including abiraterone or enzalutamide, or those who have
contraindications to receive those drugs. Over time, patients with
mCRPC generally experience continued disease progression, worsening
pain, leading to substantial morbidity and limited survival rates.
In both in vitro and in vivo animal studies, ESSA's novel approach
to blocking the androgen pathway has been shown to be effective in
blocking tumor growth when current therapies are no longer
effective.
Forward-Looking Statement
Disclaimer
This release contains certain information which, as presented,
constitutes "forward-looking information" within the meaning of the
Private Securities Litigation Reform Act of 1995 and/or applicable
Canadian securities laws. Forward-looking information involves
statements that relate to future events and often addresses
expected future business and financial performance, containing
words such as "anticipate", "believe", "plan", "estimate",
"expect", and "intend", "potential", "promising", "refocus",
statements that an action or event "may", "might", "could",
"should", or "will" be taken or occur, or other similar expressions
and includes, but is not limited to, statements about Mr.
Stampacchia's consultancy role with the Company.
Forward-looking statements and information are subject to
various known and unknown risks and uncertainties, many of which
are beyond the ability of ESSA to control or predict, and which may
cause ESSA's actual results, performance or achievements to be
materially different from those expressed or implied thereby. Such
statements reflect ESSA's current views with respect to future
events, are subject to risks and uncertainties and are necessarily
based upon a number of estimates and assumptions that, while
considered reasonable by ESSA as of the date of such statements,
are inherently subject to significant medical, scientific,
business, economic, competitive, political and social uncertainties
and contingencies. In making forward looking statements, ESSA may
make various material assumptions, including but not limited to (i)
the accuracy of ESSA's financial projections; (ii) obtaining
positive results of clinical trials; (iii) obtaining necessary
regulatory approvals; and (iv) general business, market and
economic conditions.
Forward-looking information is developed based on assumptions
about such risks, uncertainties and other factors set out herein
and in ESSA's Annual Report on Form 20-F dated December 13, 2018 under the heading "Risk
Factors", a copy of which is available on ESSA's profile on the
SEDAR website at www.sedar.com, ESSA's profile on EDGAR at
www.sec.gov, and as otherwise disclosed from time to time on ESSA's
SEDAR profile. Forward-looking statements are made based on
management's beliefs, estimates and opinions on the date that
statements are made and ESSA undertakes no obligation to update
forward-looking statements if these beliefs, estimates and opinions
or other circumstances should change, except as may be required by
applicable Canadian and United
States securities laws. Readers are cautioned against
attributing undue certainty to forward-looking statements.
Neither the TSXV nor its Regulation Service Provider (as that
term is defined in the policies of the TSXV accepts responsibility
for the adequacy or accuracy of this release.
View original
content:http://www.prnewswire.com/news-releases/essa-announces-changes-to-its-board-of-directors-300941375.html
SOURCE ESSA Pharma Inc