CAMBRIDGE, Mass., Dec. 15, 2014 (GLOBE NEWSWIRE) -- Idera Pharmaceuticals, Inc. (Nasdaq:IDRA), a clinical-stage biopharmaceutical company developing nucleic acid therapeutics for cancers and rare diseases, announced that it has appointed J. Peter Wolf as Senior Vice President, General Counsel and Elizabeth Eberhardt as Vice President, Oncology Team.
Vincent J. Milano, Chief Executive Officer of Idera Pharmaceuticals, stated, "Both Pete and Liz bring tremendous experience to Idera and immediately fill critical roles that are essential to our future growth. We look forward to their contributions as we continue to build our team that will drive Idera towards our ultimate goal of delivering therapeutic solutions to patients suffering from life-threatening diseases."
Mr. Wolf most recently served as Vice President, General Counsel and Secretary of ViroPharma Incorporated from January 2008 until January 2014 and Associate General Counsel upon joining ViroPharma in 2004. Prior to ViroPharma, Mr. Wolf was a corporate attorney at several law firms. Mr. Wolf received his J.D. from the George Washington University National Law Center and his Bachelor of Arts from the University of Delaware.
Ms. Eberhardt most recently served as Senior Director of Project Management at ViroPharma Incorporated. Ms. Eberhardt joined ViroPharma in 1998 and held various roles of growing responsibility in marketing and project management during her tenure. Prior to ViroPharma, Ms. Eberhardt held marketing positions with Centocor Incorporated and several other companies. Ms. Eberhardt received her Bachelor of Science degree in Marketing from East Carolina University.
About Idera Pharmaceuticals
Idera Pharmaceuticals is a clinical-stage biopharmaceutical company developing a novel therapeutic approach for the treatment of genetically defined forms of B-cell lymphoma and rare diseases. Idera's proprietary technology involves creating novel nucleic acid therapeutics designed to inhibit over-activation of Toll-like receptors (TLRs). In addition to its TLR programs, Idera is developing gene silencing oligonucleotides (GSOs) that it has created using its proprietary technology to inhibit the production of disease-associated proteins by targeting RNA. To learn more about Idera, visit www.iderapharma.com.
Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
In connection with the hiring of Mr. Wolf, the Board of Directors of the Company approved the grant to Mr. Wolf of a stock option to purchase 600,000 shares of the Company's common stock. The option was granted as an inducement equity award outside the Company's 2013 Stock Incentive Plan and was made as an inducement material to Mr. Wolf's acceptance of employment with the Company. The option will have an exercise price equal to the closing price of the Company's common stock on December 10, 2014. The option has a ten year term and vests over four years, with 25% of the original number of shares vesting on December 10, 2015 and an additional 6.25% of the original number of shares vesting at the end of each successive quarter thereafter, subject to Mr. Wolf's continued service with the Company through the applicable vesting dates.
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