BIO-PATH HOLDINGS, INC. (NASDAQ:BPTH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 13, 2017, the Board of Directors (the “Board”) of Bio-Path Holdings, Inc. (the “Company”), increased the size of the Board from five members to six members. Also on July 13, 2017, the Board appointed Mark P. Colonnese to the Board to fill the newly created vacancy resulting from the increase in the size of the Board. The Board also appointed Mr. Colonnese as a member of the Company’s Audit Committee, Nominating/Corporate Governance Committee and Compensation Committee. The Board has determined that Mr. Colonnese is an independent director (as defined in NASDAQ Rule 5605(a)(2)).
Since 2015, Mr. Colonnese has served as Executive Vice President & Chief Financial Officer of Aviragen Therapeutics, Inc., a NASDAQ-listed bio-technology company focused on the discovery and development of direct-acting antivirals to treat infections that have limited therapeutic options and affect a significant number of patients globally. Previously, Mr.Colonnese served as the Chief Financial Officer of Stealth BioTherapeutics since November 2014 and as the Executive Vice President and Chief Financial Officer of Transgenomic Inc. from August 2012 to October 2014. Prior to that, he worked at Salutria Pharmaceuticals, LLC and at its predecessor company, AtheroGenics Inc., from 1999 to 2012, where he served in a number of executive roles, most recently as Executive Vice President, Commercial Operations and Chief Financial Officer. He has also held executive positions at Applied Analytical Industries and Schering-Plough, and served on the Board of Directors of Endeavor Pharmaceuticals, Inc.Mr.Colonnese holds an M.B.A. Degree from Fairleigh Dickinson University and a B.S. magna cum laude from Ithaca College. He is a Certified Public Accountant (inactive).
In connection with his appointment to the Board, the Company and Mr. Colonnese agreed to enter into an indemnification agreement in the same form in which the Company has entered into with each of its directors. In addition, Mr. Colonnese will participate in the Company’s non-employee director compensation programs, as described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 under the heading “Director Compensation.”
There is no arrangement or understanding between Mr.Colonnese and any other person to which Mr.Colonnese was appointed as a director. There are no transactions involving Mr.Colonnese requiring disclosure under Item404(a) of Regulation S-K.
Item 7.01Regulation FD Disclosure.
On July 17, 2017, the Company issued a press release titled, “Bio-Path Holdings Appoints Mark Colonnese to its Board of Directors.” A copy of such press release is attached hereto as Exhibit 99.1.
Item 9.01Financial Statements and Exhibits.
| 99.1 | Press Release dated July 17, 2017 |
BIO-PATH HOLDINGS INC ExhibitEX-99.1 2 v470903_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Bio-Path Holdings Appoints Mark Colonnese to its Board of Directors HOUSTON—July 17,…To view the full exhibit click here
About BIO-PATH HOLDINGS, INC. (NASDAQ:BPTH)
Bio-Path Holdings, Inc. is a clinical and preclinical stage oncology focused antisense drug development company. The Company utilizes a technology that achieves systemic delivery for target specific protein inhibition for any gene product that is over-expressed in disease. Its drug delivery and antisense technology, DNAbilize, is a platform that uses P-ethoxy, a deoxyribonucleic acid backbone modification. Its lead drug candidate, Liposomal Grb2 (BP1001), targets the protein Growth factor receptor-bound protein 2 (Grb2). Its other liposome delivered antisense drug candidate, Liposomal Bcl2 (BP1002), targets the protein B-cell lymphoma 2 (Bcl2). BP1001 is in Phase II clinical trials for acute myeloid leukemia, and for blast phase and accelerated phase chronic myelogenous leukemia. BP1002 is intended to target the lymphoma and certain solid tumor markets. BP1001 is also in preclinical studies for solid tumors, including triple negative breast cancer and inflammatory breast cancer.