KNOXVILLE, TN, /GLOBE NEWSWIRE/ -- Provectus (OTCQB: PVCT) today announced the appointment of Heather Raines as the Company's Chief Financial Officer (CFO). Mrs. Raines had previously served as Provectus' Controller since 2017, and now replaces the Company's interim CFO. Provectus is a clinical-stage biotechnology company developing a new class of drugs for oncology and dermatology based on a wholly-owned family of chemical small molecules called halogenated xanthenes.
From 2007 to 2015, Mrs. Raines served as Controller of the Oak Ridge, Tennessee location of AMETEK, Inc. (NYSE: AME), a global manufacturer of electronic instruments and electromechanical devices. Following AMETEK, from 2015 to 2017, she served as Vice President of Finance for BDry Waterproofing and Foundation Repair, a national supplier of waterproofing and foundation repair solutions. Mrs. Raines received a Master's Degree in Accounting from Strayer University and a Bachelor's Degree in Accounting from the University of Tennessee. She is a Certified Public Accountant (CPA), and a member of the American Institute of CPAs and the Tennessee Society of CPAs.
Ed Pershing, CPA, Chair of the Company's Board of Directors, said, "We are thrilled to have Heather assume this important leadership position at Provectus. She will continue her work integrating the finance and accounting function into all operational aspects of the Company as well as supporting our business planning and corporate development activities."
Mr. Pershing added, "We have been very pleased with Mrs. Raines detailed approach to the business of biotechnology, the accountability to which she holds herself and those around her, and the passion she brings to Provectus' goal of developing affordable and accessible oncology and dermatology drug therapies for patients in need."
Provectus' lead investigational oncology drug, PV-10, the first small molecule oncolytic immunotherapy, can induce immunogenic cell death. PV-10 is undergoing clinical study for adult solid tumor cancers, like melanoma and cancers of the liverliver (including metastatic symptomatic neuroendocrine tumors and metastatic uveal melanoma), and preclinical study for pediatric cancers. Orphan drug designation status has been granted to PV-10 by the U.S. Food and Drug Administration for the treatments of metastatic melanoma in 2006, hepatocellular carcinoma in 2011, neuroblastoma in 2018, and ocular melanoma in 2019.
Provectus' lead investigational dermatology drug, PH-10, a topically applied, non-steroidal, small molecule-based gel, is undergoing clinical study for inflammatory dermatoses like psoriasis and atopic dermatitis. PH-10 is self-applied to affected skin with photoactivation via ambient exposure to visible light. Pathways significantly improved by PH-10 treatment include published psoriasis transcriptomes and cellular responses mediated by IL-17, IL-22 and interferons.
Provectus Biopharmaceuticals, Inc. (Provectus or the Company) is a clinical-stage biotechnology company leading the development of a new class of drugs based on halogenated xanthenes, which are chemical small molecules. Information about the Company's clinical trials can be found at the NIH registry, www.clinicaltrials.gov. For additional information about Provectus, please visit the Company's website at www.provectusbio.com.
FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements" as defined under U.S. federal securities laws. These statements reflect management's current knowledge, assumptions, beliefs, estimates, and expectations and express management's current views of future performance, results, and trends and may be identified by their use of terms such as "anticipate," "believe," "would," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will," and other similar terms. Forward-looking statements are subject to a number of risks and uncertainties that could cause our actual results to materially differ from those described in the forward-looking statements. Readers should not place undue reliance on forward-looking statements. Such statements are made as of the date hereof, and we undertake no obligation to update such statements after this date.
Risks and uncertainties that could cause our actual results to materially differ from those described in forward-looking statements include those discussed in our filings with the Securities and Exchange Commission (including those described in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2018).
Provectus Biopharmaceuticals, Inc.
Tim Scott, Ph.D.