MILLBROOK, N.Y., Dec. 18, 2014 /PRNewswire/ -- Egenix, Inc. is pleased to announce that Lionel Goldfrank III has been elected Chairman of the Board, to succeed Donald Fresne; Mr. Fresne has also resigned as President and CEO, but will continue as a member of the Board.  In recognition of the many contributions and value that he has added to the company over almost twenty years, the Board designated Mr. Fresne as Chairman Emeritus.

The Board of Directors has established a Search Committee to find a suitable replacement with Biotech industry expertise and relevant management experience to lead the company into the next stages of its growth and development.

Egenix, Inc. is a privately held, New York-based biotechnology company focused on the development of innovative cancer therapeutics. The company's therapeutic platform technology consists of small molecule drugs applicable for the treatment and prevention of a broad spectrum of cancers, autism, and Alzheimer's. Our lead drug candidates inhibit the "translation initiation factor" eIF4E, specifically blocking production of multiple cancer promoting proteins and promoting apoptosis (programmed cell death) and upregulation of tumor suppressor genes. eIF4E is an attractive cancer therapeutic target because every function necessary for cancer growth and metastasis is influenced or mediated by a gene product that is regulated by this translation initiation factor. Data from human cancer xenograft studies using two of our lead compounds tested against breast cancer and melanoma demonstrated 100% tumor inhibition and 20% to 30% tumor reduction. For more information visit www.egenixinc.com.

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SOURCE Egenix, Inc.