UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
August 24, 2009
Date of Report (Date of earliest event reported)
PRO-PHARMACEUTICALS, INC.
(Exact Name of Registrant as Specified in Charter)
| NEVADA | 000-32877 | 04-3562325 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
7 WELLS AVENUE
NEWTON, MASSACHUSETTS
02459
(Address of Principal Executive Offices) (Zip Code)
(617) 559-0033
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Change in Directors or Principal Officers, Financial Statements and Exhibits
| Item 5.02. | Departure of Directors or Principal Officers; Election of Directors: Appointment of Principal Officers. |
On August 24, 2009, Pro-Pharmaceuticals, Inc. (“the Company”) announced that its Board of Directors appointed Arthur R. Greenberg to serve as a member of the Board until the 2010 annual meeting of the Company’s stockholders. Mr. Greenberg is the President and Founder of Prism Technologies, Inc. Prism provides professional sales & marketing services and business development consulting services. Previously, he was the first President of SEMI, North America, a semiconductor equipment and materials industry trade association representing the interests, including public policy, of more than 2000 members doing business in North America. In 1982, Mr. Greenberg was a founding member of Semiconductor Systems, Inc, a supplier of semiconductor manufacturing equipment. In 1973, he was a founding member, and Vice President of Sales & Marketing, for KTI Chemicals, Inc, a supplier of processing chemicals for the semiconductor industry. A native of Arkansas, Mr. Greenberg received his Bachelor of Science degree in Business Administration from Henderson State University. In 2000, Mr. Greenberg received Henderson State University’s Alumni Entrepreneur of the Year Award.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
News Release of Pro-Pharmaceuticals, Inc., dated August 24, 2009.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PRO-PHARMACEUTICALS, INC. | ||
| By: | /s/ Anthony Squeglia | |
| Anthony Squeglia | ||
| Chief Financial Officer | ||
Date: August 24, 2009
EXHIBIT INDEX
| Exhibit |
Exhibit | |
| 99.1 | News Release of Pro-Pharmaceuticals, Inc., dated August 24, 2009. |
Exhibit 99.1
Pro-Pharmaceuticals Appoints Arthur R. “Bobby” Greenberg to its Board of Directors
Newton, MA – August 24, 2009 – Pro-Pharmaceuticals, Inc. (OTCBB: PRWP), a developer of carbohydrate-based targeted therapeutic compounds to treat cancer and fibrosis, today announced the appointment of Arthur R. “Bobby” Greenberg to its Board of Directors. Mr. Greenberg’s appointment brings the Board to nine members.
“We are very pleased to have Mr. Greenberg join our Board of Directors,” said Theodore Zucconi, Ph.D., Chief Executive Officer, Pro-Pharmaceuticals. “Bobby is a highly regarded executive with a wealth of business experience. His expertise will be invaluable as we execute our plan to commercialize our lead product candidate, DAVANAT®, and enter into partnerships for sales and distribution.”
“I believe Pro-Pharmaceuticals offers the potential to be a leader in developing and commercializing carbohydrate drugs to treat cancer and fibrosis,” said Mr. Greenberg. “I am excited to be a part of a team that is initially focused on improving the quality of life and extending the survival of cancer patients.”
About Arthur R. Greenberg
With 37 successful years in the semiconductor equipment and materials industries, Mr. Greenberg is the President and Founder of Prism Technologies, Inc. Prism provides professional sales & marketing services and business development consulting services. Previously, he was the first President of SEMI, North America, a semiconductor equipment and materials industry trade association representing the interests, including public policy, of more than 2000 members doing business in North America. In 1982, Mr. Greenberg was a founding member of Semiconductor Systems, Inc, a supplier of semiconductor manufacturing equipment. In 1973, he was a founding member, and Vice President of Sales & Marketing, for KTI Chemicals, Inc, a supplier of processing chemicals for the semiconductor industry. A native of Arkansas, Mr. Greenberg received his Bachelor of Science degree in Business Administration from Henderson State University. In 2000, Mr. Greenberg received Henderson State University’s Alumni Entrepreneur of the Year Award.
About DAVANAT®
DAVANAT®, the Company’s lead product candidate, is a carbohydrate polymer composed of mannose and galactose. DAVANAT®’s mechanism of action is based on interacting with lectins on the cell surface. DAVANAT® targets specific lectin receptors (galectins) that are over-expressed on cancer cells. Current research indicates that galectins affect cell development and play important roles in cancer, including tumor cell survival, angiogenesis and tumor metastasis.
Pro-Pharmaceuticals, Inc.
Pro-Pharmaceuticals, OTCBB: PRWP, is engaged in the discovery, development and commercialization of carbohydrate therapeutics for advanced treatment of cancer and fibrosis. Initially, the product pipeline is focused on increasing the efficacy and decreasing the toxicity of chemotherapy drugs. The Company is headquartered in Newton, Mass. Additional information is available at www.pro-pharmaceuticals.com.
FORWARD LOOKING STATEMENTS: Any statements in this news release about future expectations, plans and prospects for the Company, including without limitation statements containing the words “believes,” “anticipates,” “plans,” “expects,” and similar expressions, constitute forward-looking statements as defined in the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in such statements.
The forward-looking statements represent the Company’s views as of the date of this news release and should not be relied upon to represent the Company’s views as of a subsequent date. While the Company anticipates that subsequent events may cause the Company’s views to change, the Company disclaims any obligation to update such forward-looking statements.
Contact: Pro-Pharmaceuticals, Inc., Anthony D. Squeglia: 617.559.0033; squeglia@pro-pharmaceuticals.com.
DAVANAT is a registered trademark of Pro-Pharmaceuticals.