Full Press Release Details
Actinium Pharmaceuticals Appoints Pharmaceutical
Ajit S. Shetty, Ph.D., to the Company's Board of Directors
| - | Proven leader with 36 years of experience with Johnson & Johnson in numerousexecutive capacities, most recently as Head of Enterprise Supply Chain | |
| - | Dr. Shetty was instrumental in establishing U.S. operations for Janssen, a Johnson & Johnson subsidiary, and contributing to the Janssen Group of companies' growth from $1 billion in global sales to $8 billion | |
| - | Established track record of identifying pharmaceutical drug products including the in-licensing of Durogesic, a leading product for Johnson & Johnson that had $2 billion in global sales |
NEW YORK, NY - March 28, 2017
- Actinium Pharmaceuticals, Inc. (NYSE MKT: ATNM) ("Actinium" or "the Company"), a biopharmaceutical
Company developing innovative targeted payload immunotherapeutics for the treatment of advanced cancers, announced today that Dr.
Ajit Shetty has been appointed to the Company's Board of Directors. Dr. Shetty is a pharmaceutical industry executive with
36 years of experience at Johnson & Johnson (J&J) and its subsidiary Janssen. Most recently Dr. Shetty served as the Head
of Enterprise Supply Chain at J&J where he was responsible for the transformation and optimization of J&J's global
Sandesh Seth, Executive Chairman of Actinium
said, "Dr. Shetty is a highly accomplished pharmaceutical executive with a demonstrated ability to lead and manage growth
on a global basis with expertise in supply chain and commercialization activities. His plethora of experiences, wealth of knowledge
and relationships gained in his 36 years at Johnson & Johnson will be invaluable to Actinium as we execute on the development
of our clinical programs. I welcome Dr. Shetty to the Actinium Board and I look forward to working with him and the Actinium team
in building an innovative company focused on improving patient outcomes with our novel radioimmunotherapies."
Dr. Shetty said, "Actinium is developing
therapies that have the potential to dramatically improve patient outcomes and to transform important areas of medicine such as
bone marrow transplant. I am honored and excited to join the Actinium board of directors and look forward to working with the Actinium
Board, executive management and the team to drive value for all Actinium stakeholders."
Dr. Shetty joined Janssen Pharmaceutica,
Inc. in 1976 ultimately rising to the position of President in 1986 where he led the establishment of Janssen's business
in the U.S. From 1999 to 2008 he was Managing Director of Janssen Pharmaceutica, during this time the Janssen Group of companies'
global sales grew from $1 billion to $8 billion, and from 2004 until 2012 he was Chairman of the Board of Directors. In Dr. Shetty's
most recent role at Johnson & Johnson he was head of Enterprise Supply Chain, where he reported to the CEO and was responsible
for the transformation and optimization of Johnson & Johnson's supply chain. Dr. Shetty earned a Ph.D. in Metallurgy
and B.A. Natural Sciences from Trinity College, Cambridge University and a Master of Business Administration from Carnegie Mellon
In 2007, Dr. Shetty was bestowed the title
of Baron by King Albert II of Belgium for his exceptional merits. He is a member of the Board of Trustees of Carnegie Mellon University,
serves on the Board of Governors for GS1 (Global Standards) in Belgium and formerly served on the Corporate Advisory Board of the
John Hopkins Carey Business School. In 2016, Dr. Shetty was named as Chairperson of the Vlaams Instituut voor Biotechnologie (VIB),
a Belgium based life sciences research institute focused on translating scientific results into pharmaceutical, agricultural and
industrial applications. In addition, he was elected Manager of the Year in 2004 in Flanders and received a Life-Time Achievement
Award in India in 2010.
About Actinium Pharmaceuticals, Inc.
Actinium Pharmaceuticals, Inc. is a biopharmaceutical
company developing innovative targeted therapies for patients with cancers lacking effective treatment options. Actinium's proprietary
platform utilizes monoclonal antibodies to deliver radioisotopes directly to cells of interest in order to kill those cells safely
and effectively. The Company's lead product candidate Iomab-B is designed to be used, upon approval, in preparing patients for
a hematopoietic stem cell transplant, commonly referred to as bone marrow transplant. A bone marrow transplant is often the only
potential cure for patients with blood-borne cancers but the current standard preparation for a transplant requires chemotherapy
and/or total body irradiation that result in significant toxicities. Actinium believes Iomab-B will enable a faster and less toxic
preparation of patients seeking a bone marrow transplant, leading to increased transplant success and survival rates. The Company
is currently conducting a single pivotal 150-patient, multicenter Phase 3 clinical study of Iomab-B in patients with relapsed
or refractory acute myeloid leukemia (AML) age 55 and older. The Company's second product candidate, Actimab-A, is currently in
a multicenter open-label, 53-patient Phase 2 trial for patients newly diagnosed with AML age 60 and over. Actimab-A is being developed
to induce remissions in elderly patients with AML who lack effective treatment options and often cannot tolerate the toxicities
of standard frontline therapies. In addition, Actinium is developing Actimab-M, which is being studied in patients with relapsed
or refractory multiple myeloma in a Phase 1 clinical trial. Actinium is also utilizing its alpha-particle immunotherapy (APIT)
technology platform to generate new drug candidates based on antibodies linked to the element Actinium-225 that are directed at
various cancers that are blood-borne or form solid tumors. Actinium Pharmaceuticals is based in New York, NY. To learn more about
Actinium Pharmaceuticals, please visit www.actiniumpharma.com and to follow @ActiniumPharma on Twitter please visit, www.twitter.com/actiniumpharma.
Forward-Looking Statements for Actinium
Pharmaceuticals, Inc.
This news release contains "forward-looking
statements" as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the proposed
offering. These statements are based on management's current expectations and involve risks and uncertainties, which may cause
actual results to differ materially from those set forth in the statements. The forward-looking statements may include statements
regarding product development, product potential, or financial performance. No forward-looking statement can be guaranteed and
actual results may differ materially from those projected. Actinium Pharmaceuticals undertakes no obligation to publicly update
any forward-looking statement, whether as a result of new information, future events, or otherwise.
Actinium Pharmaceuticals, Inc.
Vice President, Finance and Corporate Development