Exhibit
99.3
Material
Change Report
Item
1 Name
and Address of Company
Lorus
Therapeutics Inc. (“Lorus”)
2
Meridian Road
Toronto,
Ontario
M9W
4Z7
Item
2 Date
of Material Change
September
19, 2006
Item
3 News
Release
On
September 19, 2006, Lorus issued two press releases relating to the material
changes described below. The press releases, copies of which are attached
to
this report, were distributed by Canada Newswire.
Item
4 Summary
of Material Change
Lorus
announced that Dr. Jim A. Wright will step down as the President and Chief
Executive Officer of Lorus on September 21, 2006 and that Dr. Aiping H. Young
will take the position of President and Chief Executive Officer of Lorus
on
September 21, 2006.
Item
5 Full
Description of Material Change
Lorus
announced that Dr. Jim A. Wright will step down as the President and Chief
Executive Officer of Lorus on September 21, 2006 and that Dr. Aiping H. Young
will take the position of President and Chief Executive Officer of Lorus
on
September 21, 2006, the occasion of Lorus’ annual meeting.
Item
6 Reliance
on subsection 7.1(2) or (3) of National Instrument 51-102
This
Report is not being filed on a confidential basis in reliance on subsection
7.1(2) or (3) of National Instrument 51-102.
Item
7 Omitted
Information
No
information has been omitted on the basis that it is confidential
information.
Item
8 Executive
Officer
The
following executive officer of Lorus is knowledgeable about the material
change
and may be contacted by any of the Securities Commissions in respect of the
change:
| Name: |
Aiping H. Young |
|
|
| Title: |
President and Chief Executive Officer |
|
|
| Telephone: |
(416) 798-1200 (ext. 379) |
|
|
Item
9 Date
of Report
September
26, 2006
Contacts:
Lorus
Therapeutics Inc. Media
Contacts:
Grace
Tse Susana
Hsu
Corporate
Communications Mansfield
Communications
(416)
798-1200 ext. 380
(416)
599-0024
Email:
ir@lorusthera.com susana@mcipr.com
TSX:
LOR
AMEX:
LRP
LORUS
THERAPEUTICS ANNOUNCES THAT DR. JIM A. WRIGHT WILL STEP
DOWN
AS PRESIDENT AND CHIEF EXECUTIVE OFFICER
TORONTO,
CANADA -
September
19, 2006
-
The board of directors of Lorus Therapeutics Inc. (“Lorus”) a biopharmaceutical
company specializing in the research and development of pharmaceutical products
and technologies for the management of cancer, announces that Dr. Jim A.
Wright
will step down as the President and Chief Executive Officer of the Company
on
September 21, 2006.
Dr.
Wright joined the senior management of Lorus in October, 1999, following
the
merger of Lorus with GeneSense Technologies, a biotechnology company that
he
co-founded and served as its Chairman of the Board, and President and Chief
Scientific Officer. Over the last seven years, Dr. Wright has guided the
growth
of Lorus from a preclinical research company to an advanced clinical development
Company with two recently completed clinical trials, and seven others presently
underway. During this time, Lorus has developed a strong diverse pipeline
of
anticancer products in various stages of development that include antisense,
siRNA, immunotherapy, small molecule and tumor suppressor technologies.
Graham
Strachan, Chair of the board of directors indicated that, “The Board of
Directors wishes to acknowledge and thank Dr. Wright for the very significant
contribution that he has made to Lorus’ growth and evolution, and also his
dedication to the Company and its goals over the years. It is pleased that
Dr.
Wright has agreed to continue his association with Lorus as a director and
will
also be available as a special advisor to his successor.”
About
Lorus
Lorus
is a biopharmaceutical company focused on the research and development of
cancer
therapies. Lorus’ goal is to capitalize on its research, preclinical, clinical
and regulatory expertise by developing new drug candidates that can be used,
either alone, or in combination, to successfully manage cancer. Through its
own
discovery efforts and an acquisition and in-licensing program, Lorus is building
a portfolio of promising anticancer drugs. Late-stage clinical development
and
marketing may be done in cooperation with strategic pharmaceutical partners.
Lorus currently has products in human clinical trials with a pipeline of
seven
clinical trials in Phase II clinical trial programs, as well as one Phase
II and
one Phase III clinical trial recently completed. Lorus Therapeutics Inc.
is a
public company listed on the Toronto Stock Exchange under the symbol LOR,
and on
the American Stock Exchange under the symbol LRP. Virulizin®
is
a registered trademark of Lorus Therapeutics Inc.
Forward
Looking Statements
Except
for historical information, this press release contains forward-looking
statements within the meaning of the Private Securities Litigation Reform
Act of
1995, which reflect the Company’s current expectation and assumptions, and are
subject to a number of risks and uncertainties that could cause actual results
to differ materially from those anticipated. These forward-looking statements
involve risks and uncertainties, including, but not limited to, changing
market
conditions, the Company’s ability to obtain patent protection and protect its
intellectual property rights, commercialization limitations imposed by
intellectual property rights owned or controlled by third parties, intellectual
property liability rights and liability claims asserted against the Company,
the
successful and timely completion of clinical studies, the establishment of
corporate alliances, the impact of competitive products and pricing, new
product
development, uncertainties related to the regulatory approval process, product
development delays, the Company’s ability to attract and retain business
partners and key personnel, future levels of government funding, the Company’s
ability to obtain the capital required for research, operations and marketing
and other risks detailed from time-to-time in the Company’s ongoing quarterly
filings, annual information forms, annual reports and 40-F filings. We undertake
no obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Lorus
Therapeutics Inc.’s recent press releases are available through the Company’s
Internet site: http://www.lorusthera.com.
Contacts:
Lorus
Therapeutics Inc. Media
Contacts:
Grace
Tse Susana
Hsu
Corporate
Communications Mansfield
Communications
(416)
798-1200 ext. 380
(416)
599-0024
Email:
ir@lorusthera.com susana@mcipr.com
TSX:
LOR
AMEX:
LRP
LORUS
THERAPEUTICS ANNOUNCES THE APPOINTMENT OF
A
NEW PRESIDENT AND CHIEF EXECUTIVE OFFICER
TORONTO,
CANADA -
September
19, 2006
-
The board of directors of Lorus Therapeutics Inc. (“Lorus”), a biopharmaceutical
company specializing in the research and development of pharmaceutical products
and technologies for the management of cancer, announces that Dr. Aiping
H.
Young will take the position of President and Chief Executive Officer of
Lorus
on September 21, 2006, the occasion of the Company’s Annual General
Meeting.
Dr.
Young has served at various times as Lorus’ Vice-President of Research and
Development, Chief Technology Officer, and Chief Operating Officer. Previously,
Dr. Young was Vice-President of Research for GeneSense Technologies, a
biotechnology company that she co-founded, and was a member of its board
of
directors. Dr. Young has played a key role in the overall development of
Lorus
and has participated in all phases of Lorus’ drug development program and
business activities.
Lorus
has a diverse anticancer drug development program with seven clinical trials
underway, two recently completed, and a variety of novel preclinical products.
The Company recently announced that it is focusing on the clinical development
of its antisense product, GTI-2040, in the disease related areas of acute
myeloid leukemia and myelodysplastic syndrome. Lorus also plans to bring
a new
small molecule anticancer agent into clinical study.
Graham
Strachan, Chair of the board of directors, commented that, “Dr. Young’s intimate
knowledge of operations is an important asset to the Company as it progresses
its research, preclinical, and clinical products towards commercialization.
As
President and Chief Executive Officer, Dr. Young will be responsible for
the
development of Lorus’ product pipeline, will lead the strategic planning
process, and oversee the Company’s partnership activities. We are pleased that
Dr. Young has accepted her new position in Lorus, and look forward to working
with her to achieve the Company’s corporate objectives.”
About
Lorus
Lorus
is a biopharmaceutical company focused on the research and development of
cancer
therapies. Lorus’ goal is to capitalize on its research, preclinical, clinical
and regulatory expertise by developing new drug candidates that can be used,
either alone, or in combination, to successfully manage cancer. Through its
own
discovery efforts and an acquisition and in-licensing program, Lorus is building
a portfolio of promising anticancer drugs. Late-stage clinical development
and
marketing may be done in cooperation with strategic pharmaceutical partners.
Lorus currently has products in human clinical trials with a pipeline of
seven
clinical trials in Phase II clinical trial programs, as well as one Phase
II and
one Phase III clinical trial recently completed. Lorus Therapeutics Inc.
is a
public company listed on the Toronto Stock Exchange under the symbol LOR,
and on
the American Stock Exchange under the symbol LRP. Virulizin®
is
a registered trademark of Lorus Therapeutics Inc.
Forward
Looking Statements
Except
for historical information, this press release contains forward-looking
statements within the meaning of the Private Securities Litigation Reform
Act of
1995, which reflect the Company’s current expectation and assumptions, and are
subject to a number of risks and uncertainties that could cause actual results
to differ materially from those anticipated. These forward-looking statements
involve risks and uncertainties, including, but not limited to, changing
market
conditions, the Company’s ability to obtain patent protection and protect its
intellectual property rights, commercialization limitations imposed by
intellectual property rights owned or controlled by third parties, intellectual
property liability rights and liability claims asserted against the Company,
the
successful and timely completion of clinical studies, the establishment of
corporate alliances, the impact of competitive products and pricing, new
product
development, uncertainties related to the regulatory approval process, product
development delays, the Company’s ability to attract and retain business
partners and key personnel, future levels of government funding, the Company’s
ability to obtain the capital required for research, operations and marketing
and other risks detailed from time-to-time in the Company’s ongoing quarterly
filings, annual information forms, annual reports and 40-F filings. We undertake
no obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Lorus
Therapeutics Inc.’s recent press releases are available through the Company’s
Internet site: http://www.lorusthera.com.