Processa Pharmaceuticals (NASDAQ: PCSA), a clinical-stage pharmaceutical company focused on developing the next generation of chemotherapeutic drugs with improved efficacy and safety, has named a new chief financial officer. According to the announcement, Russell L. Skibsted has accepted the new assignment, effective immediately; Skibsted succeeds James Stanker, who is retiring but will serve in an advisory role to assist in the transition. Skibsted has spent almost three decades working in the pharmaceutical industry, gaining an invaluable expertise in financial management, global business development, capital markets, investor relations and operations. He has served in both public and private life sciences companies at all stages of development. His positions have included senior vice president and CFO at Alimera Sciences; executive vice president, CFO and chief business officer at Rockwell Medical; and CFO at BioTime, among others. “We are delighted to welcome Russell to Processa’s executive team,” said Processa Pharmaceuticals CEO George Ng in the press release. “His proven record in finance and capital markets combined with a deep understanding of the complexities inherent in the life sciences make him an ideal fit for Processa. With three decades of highly relevant experience, Russell is a seasoned executive and will be a tremendous asset to the company as we advance our pipeline through the clinic.”
To view the full press release, visit https://ibn.fm/zZUmc
About Processa Pharmaceuticals Inc.
Processa is a clinical-stage pharmaceutical company focused on developing the next-generation chemotherapy (“NGC”) drugs to improve the safety and efficacy of cancer treatment. By combining its novel oncology pipeline with proven cancer-killing active molecules and the Processa Regulatory Science Approach as well as experience in defining Optimal Dosage Regimens for FDA approvals, the company will not only provide better therapy options to cancer patients but will also increase the probability of FDA approval for its next-generation chemotherapy drugs following an efficient path to approval. Processa’s NGC drugs are modifications of existing FDA-approved oncology drugs resulting in an alteration of the metabolism and/or distribution of these drugs while maintaining the existing mechanisms of killing the cancer cells. The company’s approach to drug development is based on more than 30 years of expertise to efficiently design and conduct clinical trials that demonstrate a positive benefit/risk relationship. The Processa team has a track record of obtaining more than 30 indication approvals across almost every division of the FDA. Using its proven Regulatory Science Approach, the Processa team has experience defining the Optimal Dosage Regimen using the principles of the FDA’s Project Optimus Oncology initiative. The advantages of Processa’s NGCs are expected to include fewer patients experiencing side effects that lead to dose discontinuation, more significant cancer response and a greater number of patients — in excess of 200,000 for each NGC drug — who will benefit from each NGC drug. Processa is currently 1) starting to initiate sites for the phase 2 study that will identify the optimal dosage regimen for Next Generation Capecitabine (PCS6422 and capecitabine to treat breast, metastatic colorectal, gastrointestinal, pancreatic and other cancers); 2) defining the design of the Next Generation Gemcitabine (PCS3117 to treat pancreatic, biliary, lung, ovarian, breast and other cancers) phase 2 optimal dosage regimen study to discuss with the FDA; and 3) defining the formulation and toxicology program for Next Generation Irinotecan (PCS11T to treat lung, colorectal, gastrointestinal, pancreatic and other cancers). For more information, visit the company’s website at www.ProcessaPharma.com.
NOTE TO INVESTORS: The latest news and updates relating to PCSA are available in the company’s newsroom at https://ibn.fm/PCSA
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