HedgePath Pharmaceuticals Inc (OTCQB: HPPI), a pharmaceutical development company focused on discovering, developing and ultimately commercialising innovative therapies for patients with cancer and non-cancerous proliferation disorders, announced yesterday that it has named W Mark Watson, CPA as chairman of the board, effective 15 April 2019.

Watson replaces E Brendan Magrab, HedgePath's chairman of the board since December 2016, who is stepping down from that position in order to fulfil his duties as chief executive officer of Epalex Corporation, a privately-held biotechnology company.

Watson has served as an independent director of the company since June 2014. He is a Certified Public Accountant with more than 40 years of experience in public accounting and auditing, having spent his entire career from January 1973 to June 2013 at Deloitte Touche Tohmatsu and its predecessor, most recently as Central Florida marketplace leader. Among other industries, he has a particular expertise in the healthcare and life sciences sector, having played a significant role in the development of Deloitte's audit approach for health and life sciences companies and leading its national healthcare regulatory and compliance practice. He has served as lead audit partner and lead client service partner on the accounts of many public companies, ranging from middle market firms to Fortune 500 enterprises. He serves on the boards of directors of Sykes Enterprises Inc., BioDelivery Sciences International Inc. and Global Health Inc.

Watson said 'It's been rewarding for me to assist HedgePath with my background in public accounting and my experience with life science and pharmaceutical companies and to support HedgePath's progress over the last several years. I look forward to my new role with HedgePath as its chairman, and on behalf of our board, I want to thank Brendan for his service over the last two years as our chairman.'