Ben Carson named chairman of Vaccinogen in Frederick

Carson

Noted pediatric neurosurgeon Dr. Benjamin Carson has been named chairman of Vaccinogen in Frederick.

The company focuses on developing vaccines to fight cancer. The Frederick facility is at 5300 Westview Drive.

"A personalized disease like cancer requires a personalized weapon," Carson wrote in a letter to shareholders. "I believe Vaccinogen has developed the first truly personalized, and potentially commercializable, approach to combat cancer and that is why I'm joining the board and accepting the role of chairman."

Carson said the company's product OncoVax, which has been shown to be successful in reducing the risk of colon cancer, may be setting the stage for the vaccine's use in fighting other cancers.

The company on Monday announced it had closed on $10 million, the initial part of an $80 million financing plan. Through an agreement with the Stockholm-based Investment Syndicate, a group of investors have committed a total of $80 million through the purchase of common stock within the next 90 days.

Vaccinogen will look to enroll 550 patients from about 50 hospitals in the study of OncoVax, the first step toward commercial use of the vaccine in the U.S. and Europe.

“We’re really excited about getting the study up and running as fast as possible,” CEO Andrew L. Tussing said in a statement.

"Dr. Ben Carson is nationally known and so well respected," Helen Propheter, manager of the county's economic development office, wrote in an email. "I remember seeing him speak over 20 years ago, at the Weinberg, he was so memorable that I still can recall him speaking so fondly of his mother and how important education was to her and of his motto to Think Big."

"The concept of education and thinking big will blend nicely with Frederick and our strong support of innovation and education. We are thrilled to welcome him to the life science community of Frederick and look forward to working with him and Vaccinogen," Propheter wrote.

Carson, emeritus professor of neurosurgery, oncology, plastic surgery and pediatrics at the Johns Hopkins School of Medicine, also serves on the boards of many corporations.

 

(4) comments

sue1955

"Extra Ignored," thank you for the link. I read it almost completely the way through. The FNP article makes the company sound like they are on the brink of something wonderful. The Frederick "facility" is an office. It is not a laboratory based on the information contained in the link. The link (which is a document signed by the company) states that the laboratory is in the Netherlands. The clinical trials, whatever are currently underway, are outsourced. I was also a little concerned about wording on Page 30 as to the "belief" that the vaccines would have to be sterile. Uh...no, kidding!

As to the CEO wanting to get their work underway - well, of course, the company needs the money. Another thought, too, the company needs to be in financially good shape to start with. (Provided that they are approved), vaccines have to be manufactured by firms that are also financially responsible and not go out of business. Businesses that are solely established hoping for a breakthrough pharmaceutical (that may not be approved by FDA) are not likely to be viable over time - at least, in the U.S.

By law, clinical trials take time and so does assessment of the results.

My comments have nothing to do with Dr. Carson.

jerseygrl42

Excellent choice and I hope this gentleman runs for higher office ; like the WH where he would present a real change from the present palooka

Extra Ignored

Just what we need, a celebrity president.

Extra Ignored

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q

http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=9608844

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