- Mr. Seth to serve as Chief Executive Officer and Chairman of the Board of Directors
- Independent Director Dr. Ajit Shetty appointed to the Company’s Corporate Governance, Audit and
Compensation Committees
NEW YORK, June 09, 2017 (GLOBE NEWSWIRE) -- 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 Actinium’s Board of Directors unanimously appointed Mr. Seth as Chief Executive Officer, effective
immediately. Mr. Seth will continue his role as Chairman that commenced in October of 2013. In addition, Steve
O’Loughlin has been appointed Principal Financial and Accounting Officer as of May 15, 2017.
Actinium’s Board of Directors released a statement that said, “As Executive Chairman, Mr. Seth has been
dedicated to advancing the goals of Actinium Pharmaceuticals with a focus on patient outcomes and shareholder value. Under
Mr. Seth’s guidance, the Company has made tremendous progress recently, which includes hiring of key personnel such as our Chief
Medical Officer, Dr. Mark Berger, VP-Clinical and Commercial Strategy, Steven Price, and several senior members of the core
manufacturing team. Mr. Seth’s initiatives have sharply focused the clinical organization that is driving progress of our
clinical trials. In addition, key intellectual property is being filed and value enhancing initiatives are being progressed
as he assembles a robust team that is capable of generating value. We are excited to announce the appointment of Mr. Seth as
the Company’s Chief Executive Officer as we have great confidence in his ability to lead Actinium in its next phase of development,
which includes continued development of our Iomab-B, Actimab-A, and Actimab-M drug candidates as well as our alpha particle
technology platform. In doing so, we believe Actinium will establish itself as a leader at the intersection of
radioimmunotherapy and oncology.”
Sandesh Seth said, “It is an honor to be appointed Chief Executive Officer of Actinium at such an exciting time
for the Company. Our radioimmunotherapies hold tremendous potential for extremely sick cancer patients who lack effective
treatment options especially in the areas of bone marrow transplant, acute myeloid leukemia and multiple myeloma. I am
excited to continue to work with the ever-stronger Actinium team to execute our vision of building an innovative biopharmaceutical
company that transforms the treatment of patients with radioimmunotherapies.”
The Company also announced that Dr. Ajit Shetty has been appointed to the Company’s Corporate Governance
(Chairman), Audit and Compensation Committees in the place of Mr. Sergio Traversa who has resigned from Actinium’s Board of
Directors. Dr. Shetty joined Actinium’s Board of Directors as an independent director in March of 2017. Dr. Shetty
spent 36 years in key executive roles at Janssen and Johnson & Johnson. From 1986 to 1990 he served as President of Janssen
Pharmaceutica, Inc. where he established Janssen’s U.S. business. From 1999 to 2008 he served as Managing Director and
oversaw Janssen Group of companies’ growth in global sales from $1 billion to $ 8 billion and from 2004 to 2012 he served as
Chairman of the Board of Directors. Most recently, Dr. Shetty was head of Enterprise Supply Chain at Johnson & Johnson.
In addition, the Company appointed Steve O’Loughlin Principal Financial and Accounting Officer on May 15, 2017.
Mr. O’Loughlin joined Actinium in October 2015 and has served as Vice President, Corporate Finance and Development.
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 increase 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 active, 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. 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. Steve O'Loughlin Vice President, Finance and Corporate Development soloughlin@actiniumpharma.com