Nanotechnology Now - Press Release: NanoVector Hires Vice President of R&D for Nanotechnology Cancer Therapeutics

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Abstract:
Dr. Paul M. Steed to Head IND Enabling Studies For Next Generation Targeted Cancer Drug

NanoVector Hires Vice President of R&D for Nanotechnology Cancer Therapeutics

RALEIGH, NC | Posted on January 14th, 2009

NanoVector, Inc. announced today that Paul M. Steed, Ph.D. has joined the company as its Vice President of Research and Development. Dr. Steed has 16 years of experience in pharmaceutical R & D, including 10 at Ciba/Novartis and 6 in the biotech industry. He has a thorough understanding of all aspects of pharmaceutical R&D, primarily in the areas of oncology and inflammation/immunology and has numerous high-impact publications. Most recently Dr. Steed served as head of biology for Serenex, which was acquired in April of 2008 by Pfizer, Inc; primarily for its oncology products in clinical and pre-clinical development. At Serenex Dr. Steed managed all aspects of biological research and preclinical biology and helped guide the lead cancer drug SNX-5422 through early development. His background spans small molecules and biologics, a unique combination essential for efficient progress of the NanoVector technology.

"We are delighted to have the opportunity to add someone of Dr. Steed's background to our senior management team," said Albert Bender, Ph.D. CEO. "Leveraging his extensive oncology development experience and leadership, Dr. Steed will accelerate our lead drug time to IND." Dr. Steed added, "I am excited to lead the effort to bring the NanoVector technology to fruition because it clearly can be a breakaway advancement in the treatment of cancer and potentially many other diseases."

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About NanoVector, Inc.
NanoVector Inc. is commercializing the first biologic-based nanoparticle drug delivery system for the $48B/yr global cancer therapeutics market. Our breakaway technology overcomes all of the hurdles that have impeded chemistry-based nanocarrier systems and is capable of delivering selective targeting of tumors along with the precise intracellular delivery of anti-cancer agents for improved efficacy and fewer unpleasant side effects. The NanoVector technology is based upon a ubiquitous plant virus that has evolved for millions of years to have these ideal drug delivery characteristics, along with the ability to be exposed to mammals (including humans) in a completely benign fashion. To limit uptake to diseased cells, NanoVector has intelligently engineered the surface of the nanocarrier with targeting technology that specifically and exclusively targets tumor cells and the cell components relevant for the treatment/cargo. This technology transcends the long-standing drug paradigm for treating diseases.

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Contacts:
NanoVector, Inc.
Albert Bender, Ph.D., CEO
919-878-8464

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