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Nymox Announces Relocation of Company Headquarters to Switzerland
HASBROUCK HEIGHTS, N.J., May 07, 2018 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (NASDAQ:NYMX) is pleased to announce that it has initiated the process of relocating the Company Headquarters from Nassau, Bahamas to Zug in Switzerland. Following its recent successful financing the Company is now preparing for scale-up and commercialization for Fexapotide Triflutate as a completely new treatment option for the millions of men currently suffering from prostate problems associated with aging and prostate enlargement (BPH). The Company will be relocating to Zug in Switzerland, one of the most important biotech and pharma hubs in Europe, where it will have direct access to an excellent infrastructure supporting its anticipated growth and an abundant pool of skillful, experienced commercial and pharma sales professionals. The Company has initiated the recruiting process for multiple new management members with proven and successful commercial experience to lead the marketing during the next exciting phases. The Company has also taken steps to augment its global regulatory advisor teams.
The Company expects to report on the European regulatory review process by the end of the third quarter 2018. Furthermore, the Company expects to report on its upcoming regulatory submission in the United States in the same time frames.
Nymox's Fexapotide has been shown to produce long-term improvements in lower urinary tract symptoms associated with benign prostatic hyperplasia (BPH), a problem that afflicts an estimated 100 million or more men in the world. Fexapotide does not cause the annoying side effects and risks found with available treatments for BPH and has also been shown to lower the occurrence of surgery for BPH. Fexapotide is also in development for low grade prostate cancer.
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Forward Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Nymox, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the need for new options to treat BPH and prostate cancer, the potential of Fexapotide to treat BPH and prostate cancer and the estimated timing of further developments for Fexapotide. Such forward-looking statements involve substantial risks and uncertainties that could cause our clinical development program, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the clinical drug development process, including the regulatory approval process, the timing of Nymox's regulatory filings, Nymox's substantial dependence on Fexapotide, Nymox's commercialization plans and efforts and other matters that could affect the availability or commercial potential of Fexapotide. Nymox undertakes no obligation to update or revise any forward looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Nymox in general, see Nymox's current and future reports filed with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F for the year ended December 31, 2017, and its Quarterly Reports.
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Nymox Pharmaceutical Corporation