Canbex Therapeutics Announces The Appointment Of New Chief Medical Officer

London, UK, March 3, 2014 / B3C newswire / – Canbex Therapeutics Ltd announced today the appointment of Dr Alberto Lledó as its new Chief Medical Officer (CMO), effective immediately. Dr Lledó will lead Canbex's preparations for Proof of Concept trials for VSN16R, its orally active small molecule intended for the treatment of spasticity in multiple sclerosis.

Dr Lledó is Senior Consultant Neurologist at Clínica Creu Blanca, Barcelona, and spent sixteen years at Eli Lilly and Co in roles that included Global Senior Medical Advisor and CNS Clinical Research Physician for Europe, with responsibilities that encompassed the co-ordination in Europe of Phase II clinical trials for compounds in the Neurology pipeline. "I am delighted to be joining Canbex at such an important time in the development of VSN16R," Dr Lledó commented. "As a practicing neurologist and experienced drug developer, I am very pleased to be addressing a serious need among people with multiple sclerosis for improved treatment of their spasticity."

"I share with Canbex the belief that VSN16R has the potential to set a new standard in the treatment of spasticity, and to improve the lives of multiple sclerosis patients worldwide," Dr Lledó added.

Canbex has successfully completed the Single Ascending Dose (SAD) stage of its Phase I study of VSN16R, with highly encouraging results. The Multiple Ascending Dose (MAD) part of the trial is due to start imminently. The first-in-man study of VSN16R is enrolling a total of 72 healthy volunteers and is being carried out by Quintiles, the world's leading clinical research organisation.

Dr Lledó will take over as CMO from Dr Miroslav Ravic, who is successfully guiding the company through completion of its Phase I study.

"Finding a candidate of Dr Lledó's broad experience and deep expertise meets a key corporate priority for Canbex as we prepare for Proof of Concept trials," commented Dr Jesse Schulman, Chief Executive Officer of Canbex. "His wealth of expertise in Neuroscience, in clinical practice with multiple sclerosis patients and in clinical development will all play a key role in the development of VSN16R," Dr Schulman added.

Dr Keith Powell, Chairman of Canbex said, "We are delighted with the results of the SAD part of our Phase I trial and would like to thank Dr Miroslav Ravic for his outstanding work guiding our compound through first-in-man testing, an area in which he has boundless expertise and experience."

Investors in London-based Canbex include Merck Serono Ventures, the Wellcome Trust, UCL Business PLC, the US National Multiple Sclerosis Society (Fast Forward) and Esperante S/A. The company has also received grant funding from the UK goverment's Biomedical Catalyst translational funding program.

About Canbex
Canbex is a single-asset company that was established for the purpose of developing the VSN compound series. In addition to its pioneering scientific founders and clinical advisors, Canbex has assembled a skilled and focused management team. Development activities are carried out through leading CROs and CMOs. The company's capital efficiency and lean management strategy ensure that funds are deployed overwhelmingly to compound development and that the company is well structured for exit.

Meet Canbex at:

7th ANNUAL EUROPEAN LIFE SCIENCE CEO FORUM PARTNERING & INVESTING in Biotech & Pharma Industry 4th – 5th March 2014 • Hilton Zurich Airport Hotel, Switzerland
We are pleased to announce Canbex's presentation slot at the 7th Annual European Life Science CEO Forum taking place on 4th-5th March 2014 at Hilton Zurich Airport Hotel.

Company's Name: Canbex Therapeutics Ltd
Day: Tuesday, 4th March
Time: 14.15 - 14.30
Room: Panorama B

To contact Canbex, please email us at [email protected]