SAN DIEGO, Oct. 24, 2011 /PRNewswire/ -- Marshall Edwards, Inc. (Nasdaq: MSHL), an oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism, announced today that Charles Baltic, Managing Director and Co-Head of Healthcare at Needham & Company, has been appointed to its board of directors. The appointment of Mr. Baltic increases the number of board members to six and the number of independent directors to five.
"On behalf of the entire board and management team, I am delighted to welcome Charles to Marshall Edwards," said Professor Bryan R.G. Williams, Chairman of the board of directors. "Charles' healthcare investment banking experience spans a broad range of equity, structured, convertible and debt financings in both the public and private markets, as well as numerous M&A and advisory assignments. His firsthand knowledge of the capital markets will be a valuable asset to the company as we continue to advance our drug candidates along the clinical development path."
Mr. Baltic has more than 19 years of experience working with life science and healthcare companies in a significant variety of transactional contexts. During that time he has been involved in raising more than $7 billion in life science financings. Prior to joining Needham in 2009, Mr. Baltic was a Managing Director and head of the biotechnology practice at CRT Capital Group. Previously, he served as a Managing Director in Healthcare Investment Banking at Wachovia Securities, where he founded and headed its biotechnology practice. Prior to that, he was with Healthcare Investment Banking at Cowen and Company for six years, ultimately serving as a Director in life sciences.
Prior to beginning his investment banking career in 1996, Mr. Baltic practiced corporate and securities law with Dewey Ballantine, representing numerous healthcare and securities clients. He holds BA and JD degrees from Georgetown University and an MBA degree in finance from the Wharton School of the University of Pennsylvania. He is also a founding Trustee and Current Chair of the Programs Committee of the non-profit Hope Funds for Cancer Research. Mr. Baltic is a former Director of Med-Vantage Inc., which was acquired by IMS Health in 2011.About Marshall Edwards Marshall Edwards, Inc. (Nasdaq: MSHL) is a San Diego-based oncology company focused on the clinical development of novel anti-cancer therapeutics. The Company's lead programs focus on two families of small molecules that result in the inhibition of tumor cell metabolism. The first and most advanced is a NADH oxidase inhibitor program that includes lead candidate ME-143. The second is a mitochondrial inhibitor program that includes lead candidate ME-344. The Company initiated a Phase I clinical trial of intravenous ME-143 in September 2011 and expects to submit an IND application for ME-344 by the first quarter of 2012. For more information, please visit www.marshalledwardsinc.com. Under U.S. law, a new drug cannot be marketed until it has been investigated in clinical trials and approved by the FDA as being safe and effective for the intended use. Statements included in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. You should be aware that our actual results could differ materially from those contained in the forward-looking statements, which are based on management's current expectations and are subject to a number of risks and uncertainties, including, but not limited to, our failure to successfully commercialize our product candidates; costs and delays in the development and/or FDA approval, or the failure to obtain such approval, of our product candidates; uncertainties or differences in interpretation in clinical trial results; our inability to maintain or enter into, and the risks resulting from our dependence upon, collaboration or contractual arrangements necessary for the development, manufacture, commercialization, marketing, sales and distribution of any products; competitive factors; our inability to protect our patents or proprietary rights and obtain necessary rights to third party patents and intellectual property to operate our business; our inability to operate our business without infringing the patents and proprietary rights of others; general economic conditions; the failure of any products to gain market acceptance; our inability to obtain any additional required financing; technological changes; government regulation; changes in industry practice; and one-time events. We do not intend to update any of these factors or to publicly announce the results of any revisions to these forward-looking statements. SOURCE Marshall Edwards, Inc.