Onco-Innovations Strengthens Executive Leadership with Appointment of Dr. Islam Mohamed as Chief Medical Officer and Stephen M. Novak as Chief of Research and Development
Rhea-AI Summary
Onco-Innovations (OTCQB:ONNVF) appointed Dr. Islam Mohamed as Chief Medical Officer and Stephen M. Novak as Chief of Research and Development effective April 17, 2026. The hires aim to advance the company's PNKP Inhibitor Technology (ONC010) through IND-enabling activities toward first-in-human studies and improve regulatory and CMC readiness.
The board also approved issuance of 1,360,000 RSUs, and the company's preliminary base shelf prospectus remains under review by the Alberta Securities Commission.
Positive
- Clinical leadership added with Dr. Islam Mohamed for IND and trial oversight
- R&D and operations strengthened under Stephen Novak with 25+ years' experience
- Integrated execution model to accelerate regulatory readiness and CMC scale-up
Negative
- 1,360,000 RSUs approved, creating potential shareholder dilution upon vesting
- Preliminary base shelf prospectus remains under review by the Alberta Securities Commission
News Market Reaction – ONNVF
In the Apr 20 session, ONNVF gained 20.60%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC / ACCESS Newswire / April 17, 2026 / Onco-Innovations Limited (CBOE CA:ONCO)(OTCQB:ONNVF)(Frankfurt:W1H) (WKN: A3EKSZ) ("Onco" or the "Company") is pleased to announce the appointments of Dr. Islam Mohamed as Chief Medical Officer (CMO) and Stephen M. Novak as Chief of Research and Development (R&D). These strategic leadership additions are intended to strengthen the Company's clinical and development capabilities as it advances its lead product candidate, ONC010, also known as its PNKP Inhibitor Technology, toward first-in-human studies.
The appointments come at a critical inflection point for Onco-Innovations as the Company transitions from advanced preclinical development into clinical-stage execution. Together, Dr. Mohamed and Mr. Novak will lead an integrated clinical and development strategy designed to accelerate regulatory readiness, optimize program execution, and support long-term value creation.
Dr. Islam Mohamed joins Onco-Innovations as Chief Medical Officer with extensive experience in clinical medicine, translational research, and global drug development. In this role, Dr. Mohamed will oversee the Company's clinical strategy, including protocol design, medical oversight, and regulatory engagement, ensuring that all clinical programs are aligned with the highest standards of scientific rigour and patient safety. He will play a central role in advancing Onco's PNKP Inhibitor Technology Program through Investigational New Drug (IND)-enabling activities and into early-stage clinical trials, while fostering relationships with investigators, regulatory agencies, and key opinion leaders.
Stephen M. Novak assumes the role of Chief of Research and Development, bringing over 25 years of executive leadership experience across biotechnology, clinical development, regulatory strategy, and large-scale operational environments. Mr. Novak will lead the Company's end-to-end development operations, including Chemistry, Manufacturing, and Controls (CMC), preclinical development, manufacturing scale-up, and global program execution. He has a demonstrated track record of advancing complex therapeutic programs from preclinical through Phase I-III development, with deep expertise in Good Manufacturing Practice (GMP) and Good Laboratory Practice (GLP) oversight, regulatory readiness, and global Contract Research Organization (CRO) and Contract Development and Manufacturing Organization (CDMO) partnerships.
In his role, Mr. Novak will be responsible for aligning the Company's key development partners, including Dalton Pharma Services, Nucro-Technics, and Avance Clinical, ensuring coordinated execution across manufacturing, preclinical, and clinical workstreams. His leadership will be instrumental in maintaining disciplined control over timelines, budgets, and regulatory deliverables as the Company progresses toward clinical milestones.
The combination of Dr. Mohamed's clinical leadership and Mr. Novak's operational and development expertise establishes a fully integrated execution model, positioning Onco-Innovations to advance efficiently through its next phase of growth.
"We are entering a defining phase in the evolution of Onco-Innovations as we move toward clinical development. The appointments of Dr. Islam Mohamed and Stephen Novak significantly strengthen our team and position the Company for successful execution of our clinical strategy. Dr. Mohamed brings valuable clinical and medical leadership experience, while Stephen adds deep operational and development expertise. Together, they enhance our ability to execute on key milestones and create long-term value for our shareholders," Thomas O'Shaughnessy, Chief Executive Officer of Onco-Innovations.
These appointments further reinforce Onco-Innovations' commitment to building a best-in-class advisory team capable of advancing innovative oncology therapies through clinical development and toward commercialization.
The Company also takes this opportunity to note, further to its news release dated February 4, 2026, that it its previously filed preliminary base shelf prospectus remains subject to review by the Alberta Securities Commission, which review is comingled with a general continuous disclosure review by the ASC. The Company will provide further updates regarding the preliminary base shelf prospectus in due course.
The Company also announces that its Board of Directors has approved the issuance of a total of 1,360,000 Restricted Share Units ("RSUs") to certain directors, officers, consultants and service providers of the Company pursuant to its equity incentive plan (the "Plan"). The grants consist of 450,000 RSUs issued to directors and officers of the Company, with the balance of 910,000 RSUs issued to non-insider consultants and service providers. The RSUs vest over periods ranging from four (4) months to twelve (12) months and are subject to a hold period in accordance with applicable securities laws and the rules of the CBOE Canada Exchange. Upon vesting, each RSU entitles the holder to receive one common share of the Company.
About Onco-Innovations Limited
Onco-Innovations is a Canadian-based company dedicated to cancer research and treatment, specializing in oncology. Onco's mission is to pursue the prevention and treatment of cancer through pioneering research and innovative solutions. The company has secured an exclusive worldwide license to patented technology that targets solid tumours.
ON BEHALF OF ONCO-INNOVATIONS LIMITED,
"Thomas O'Shaughnessy"
Chief Executive Officer
For more information, please contact:
Thomas O'Shaughnessy
Chief Executive Officer
Tel: + 1 888 261 8055
investors@oncoinnovations.com
Forward-Looking Statements Caution. This news release contains forward-looking statements, including in relation to the Company's business and plans generally, and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "potential", "should", "anticipate", "expects" and similar expressions. All statements, other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties, including (but not limited to) in relation to: the Company's ability to carry out its planned clinical studies and other further development activities; its ability to further pursue or initiate human or other further clinical trials; and its ability to retain key personnel. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
SOURCE: Onco-Innovations Limited
View the original press release on ACCESS Newswire