CytoDyn CEO Acquires Cancer-Fighting Compound.SANTA FE, N.M. -- Allen D. Allen, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CytoDyn, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CYDY), has acquired the rights to a cancer fighting compound from Dr. Vera Stecher, his longtime friend and colleague, who discovered the compound during a scientific expedition. At the time, Dr. Stecher was working for Roche (Pink Sheets:RHHBF). Despite in vitro evidence for a strong effect against cancerous and precancerous tissue, that company decided the compound did not fit within its planned pipeline development, according to Dr. Stecher, who kept the rights to the compound as her separate property. The technology transfer took place when Dr. Stecher reluctantly resigned from CytoDyn's Board of Directors due to a possible future conflict of interest perceived by her current employer, Pfizer (NYSE NYSE See: New York Stock Exchange :PFE 1. (text, editor) PFE - Programmer's File Editor. 2. (language) PFE - Portable Forth Environment. ). CytoDyn intends to develop the cancer-fighting compound in parallel with Cytolin(R), the first targeted immune therapy for HIV/AIDS HIV/AIDS Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome that was associated with a profound drop in viral burden in Phase 1 and 2(a) human trials. Although extensive human experience with Cytolin(R) in community use and clinical trials has produced a good safety record and preliminary evidence for efficacy, the cancer-fighting compound is in preclinical development and there is no guarantee that the Company will be able to successfully develop this new product. |
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