News ReleasesProtox Chief Scientific Officer wins Entrepreneurship Award Wednesday, February 23rd, 2005 - Vancouver, British Columbia - Protox Therapeutics Inc. ("Protox") today announced that Dr. Tom Buckley, the Company's Chief Scientific Officer, has been awarded the prestigious University of Victoria (UVic) Innovation and Development Corporation (IDC) Entrepreneurship Award for 2005. The award is given annually to a UVic faculty member who has shown unique entrepreneurial talents in developing and commercializing a proprietary technology. "The University of Victoria is pleased to recognize Dr. Buckley with this award, in light of his extensive relationship with IDC since 1993, the large number of his technologies that have been patented over the years, and the tremendous progress he has made in driving his Aerolysin protein technology toward commercialization through the formation and growth of Protox", states Doug Tolson, Ph.D., Vice-President, IDC. "Protox is the first spin-off enterprise from UVic ever to evolve into a public company and it represents the positive outcome that can occur when world-class science is combined with a proven biotechnology management team and sufficient venture capital. We remain supportive of Protox' efforts and will assist wherever possible to ensure the success of this important venture." "This is a well deserved award acknowledging the effort Dr. Buckley has invested over an entire career", states Dr. Don Rix, Protox Director and recognized leader in the BC biotechnology community. "The protein technology he has developed may produce new medicines which have the potential to help countless people afflicted with cancer. For the Province, it has created a company with a bright future, a number of knowledge-based jobs and inspiration for others to innovate. Our congratulations to Tom." Educated at McGill, Harvard and the University of Utrecht in Holland, Dr. Buckley is a full Professor in UVic's Department of Biochemistry and Microbiology. Over the past 25 years he has become an internationally recognized expert on channel forming proteins and their genetic modification. In collaboration with other scientists he developed molecules that can be used to target and destroy cancer cells. Protox's first product in development using this technology is intended for the treatment of localized prostate cancer. Dr. Buckley founded Protox Pharmaceuticals Inc. in 2002, with the assistance of UVic's Innovation and Development Corporation. On July 9, 2004 Protox Pharmaceuticals was acquired by a public company on the TSX-venture exchange, which changed its name to Protox Therapeutics Inc. Through private financings and a public offering in 2004, the Company has raised over $7.5 million to fund research initiatives and commercialization of its drug candidates. The Company intends to file an Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA) for the treatment of localized prostate cancer by mid 2005. Once approved by the FDA, the Company will proceed with Phase I clinical trials. Using its core technology, research is underway in Protox's laboratory to develop products for the treatment of other forms of cancer, such as non-small cell lung cancer. About IDC: The University of Victoria Innovation and Development Corporation is responsible for commercializing technology developed at UVic. The University of Victoria is a leading Canadian research university. IDC was critical in facilitating the commercialization effort of the Aerolysin technology and is a shareholder in Protox. ABOUT PROTOX: Protox Therapeutics Inc. is developing novel, cancer therapeutics based on modified proteins engineered from the naturally occurring bacterial toxin, Aerolysin. These modified Aerolysin proteins have demonstrated the ability to target and kill cancer cells. The Company believes that its targeted approach may produce cancer therapeutics that will have greater efficacy and fewer side effects than existing cancer treatments. For more information, contact: |
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