4 April 2017
LAGUNA HILLS, Calif., April 03, 2017 (GLOBE NEWSWIRE) — PharmaCyte Biotech, Inc. (OTCQB:PMCB), a clinical stage biotechnology company focused on developing targeted treatments for cancer and diabetes using its signature live-cell encapsulation technology, Cell-in-a-Box®, today announced the appointment of Mark L. Rabe, MD, as Director of Cannabis Program Development. In his new role, Dr. Rabe will be tasked with leading strategic planning, management and development of PharmaCyte’s Cell-in-a-Box® cannabinoid-based therapy, which is currently in the preclinical research phase. He will also provide operational support to the Chief Executive Officer and executive management team. Dr. Rabe will continue as a member of PharmaCyte’s Medical and Scientific Advisory Board.
PharmaCyte has a license to utilize the Cell-in-a-Box® technology with cannabinoids (constituents of Cannabis) to treat diseases and their related symptoms. PharmaCyte’s “Cannabis Therapy Program” is currently focused on bio-engineering a human cell line that is suitable for Cell-in-a-Box® live-cell encapsulation and capable of producing an enzyme to convert a cannabinoid “prodrug” into its active cancer-killing form. This research seeks to leverage the documented anti-cancer properties of cannabinoid molecules, such as THC (tetrahydrocannabinol) and CBD (cannabidiol).
“We are very pleased to expand Dr. Rabe’s presence at PharmaCyte,” commented PharmaCyte’s Chief Executive Officer, Kenneth L. Waggoner. “Dr. Rabe has been superlative in his role as a member of our Medical and Scientific Advisory Board, and now he will be leading our efforts to develop and/or license a marketable Cell-in-a-Box®/cannabinoid therapy. His impressive background in operations, management and educational content development–in addition to his experience as a physician–will also be quite helpful in our planned pivotal clinical trial involving locally-advanced, non-metastatic pancreas cancer.”
Dr. Rabe has worked with PharmaCyte since 2013, when he was appointed as founding member and Chairman of the Medical and Scientific Advisory Board. In this role, he was instrumental in building the Board, designing PharmaCyte’s cannabinoid-based therapy and establishing PharmaCyte’s current Cannabis research program with the University of Northern Colorado. In his new role, Dr. Rabe will assume management of the Cannabis Therapy Program, with the goal of developing a marketable product. With broad experience in business operations, Dr. Rabe will also assist the company in a variety of other areas.
Dr. Rabe’s professional background spans three decades, during which time he has worked as a highly regarded clinical physician, founded and grown several successful healthcare-related businesses, served as Chief Medical Officer of the largest network of physician-owned alternative care centers in the country and served as Medical Director of an e-Learning company that developed educational content for MDs and PhDs at major pharmaceutical companies, such as Eli Lilly, Celgene, Genentech, Amgen and others. Dr. Rabe has also delivered numerous scientific presentations and has served as a Superior Court-approved expert witness in the emerging area of cannabinoid medicine.
Dr. Rabe attended Northwestern University Medical School and he is a diplomate of the American Board of Integrative Holistic Medicine (ABIHM). He received his undergraduate training at Benedictine University, where he earned a summa cum laude degree in biochemistry. Dr. Rabe’s integrative holistic medical practice, Centric Wellness, is in San Diego, California.
About PharmaCyte Biotech
PharmaCyte Biotech is a clinical stage biotechnology company developing therapies for cancer and diabetes based upon a proprietary cellulose-based live cell encapsulation technology known as “Cell-in-a-Box®.” This technology will be used as a platform upon which therapies for several types of cancer and diabetes are being developed. PharmaCyte’s therapy for cancer involves encapsulating genetically engineered human cells that convert an inactive chemotherapy drug into its active or “cancer-killing” form. These encapsulated cells are implanted as close to the patient’s cancerous tumor as possible. Once implanted, a chemotherapy drug that is normally activated in the liver (ifosfamide) is given intravenously at one-third the normal dose. The ifosfamide is carried by the circulatory system to where the encapsulated cells have been implanted. When the ifosfamide flows through the encapsulated cells, they act as an artificial liver and activate the chemotherapy drug at the source of the cancer. This “targeted chemotherapy” has proven effective and safe to use in past clinical trials and results in no side effects.
In addition to developing a novel therapy for cancer, PharmaCyte is developing a treatment for Type 1 diabetes and insulin-dependent Type 2 diabetes. PharmaCyte plans to encapsulate a human cell line that has been genetically engineered to produce, store and release insulin in response to the levels of blood sugar in the human body. The encapsulation will be done using the Cell-in-a-Box® technology. Once the encapsulated cells are implanted in a diabetic patient they will function as a “bio-artificial pancreas” for purposes of insulin production.
This press release contains forward-looking statements, which are generally statements that are not historical facts. Forward-looking statements can be identified by the words “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plans,” “will,” “outlook” and similar expressions. Forward-looking statements are based on management’s current plans, estimates, assumptions and projections, and speak only as of the date they are made. We undertake no obligation to update any forward-looking statement because of new information or future events, except as otherwise required by law. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and are generally beyond our control. Actual results or outcomes may differ materially from those implied by the forward-looking statements due to the impact of numerous risk factors, many of which are discussed in more detail in our Annual Report on Form 10-K and our other reports filed with the Securities and Exchange Commission.
More information about PharmaCyte Biotech can be found at www.PharmaCyte.com. It can also be obtained by contacting Investor Relations.