PRINCETON, N.J., April 19, 2017 (GLOBE NEWSWIRE) -- Advaxis, Inc. (NASDAQ:ADXS), a biotechnology company developing cancer immunotherapies, today announced that Anthony A. Lombardo, an industry veteran with nearly 30 years’ experience in the field of life sciences, has joined the company as Chief Business Officer. Lombardo is a senior leader with extensive experience in helping global companies achieve significant growth.
Previously, Lombardo was President and CEO of E-Z-EM Inc., a company focusing on oral imaging contrast agents. As E-Z-EM CEO, he created shareholder value through a spinout of AngioDynamics, Inc., the development of new products, and the subsequent sale of E-Z-EM. His actions transformed the company in eight years to a combined value of approximately $450 million, up from a market value of approximately $10 million at the time that he joined the company. Under his leadership, E-Z-EM was placed on Forbes’ list of the Best Small Companies in America in 2007.
“Tony has led successful companies, achieved aggressive milestones and driven growth at all levels,” said Daniel J. O’Connor, President and Chief Executive Officer of Advaxis. “His leadership, knowledge and experience will be assets to Advaxis.”
Lombardo joined Advaxis from The Channel Group, where he was a Partner providing strategic advisory services to biotechnology, pharma and med-tech companies. Previously, he was Chief Operating Officer of Bracco Diagnostics, overseeing business operations for six years. Prior to joining E-Z-EM, the company Bracco acquired, Lombardo served as the President of ALI Imaging Systems, Inc., the U.S. subsidiary of ALI Technologies, where he led all U.S. based assets and was responsible for strategic planning and B2B relationships. That company was sold to McKesson for $340 million. He has also held leadership roles at General Electric Medical Systems, Philips Medical Systems, Loral/Lockheed Martin Corp. and Sony Corporation.
Lombardo recently was honored by the American College of Radiology and the Society of Abdominal Radiology for his years of service to the clinical community. He serves as Chairman of the Advisory Board of Morristown Medical Center, a part of Atlantic Health System Hospitals. He received an M.S. in Physiology from Duquesne University and a B.S. in Biology from St. Francis College.
Lombardo’s appointment was effective April 17. As part of his compensation, he received 100,000 restricted stock units in Advaxis, of which 25 percent vest immediately and the remaining shares vest annually over the next three years.
About Advaxis, Inc.
Located in Princeton, N.J., Advaxis, Inc. is a biotechnology company developing multiple cancer immunotherapies based on its proprietary Lm Technology™. The Lm Technology, using bioengineered live attenuated Listeria monocytogenes (Lm) bacteria, is the only known cancer immunotherapy agent shown in preclinical studies to both generate cancer fighting T cells directed against cancer antigens and neutralize Tregs and myeloid-derived suppressor cells (MDSCs) that protect the tumor microenvironment from immunologic attack and contribute to tumor growth. Advaxis' lead Lm Technology immunotherapy, axalimogene filolisbac, targets HPV-associated cancers and is in clinical trials for three potential indications: Phase 3 in invasive cervical cancer, Phase 2 in metastatic cervical cancer, Phase 2 in head and neck cancer, and Phase 2 in anal cancer. The FDA has granted axalimogene filolisbac orphan drug designation for each of these three clinical settings, as well as Fast Track designation for adjuvant therapy for HRLACC patients and a SPA for the Phase 3 AIM2CERV trial in HRLACC patients. Axalimogene filolisbac has also been classified as an advanced therapy medicinal product for the treatment of cervical cancer by the EMA’s CAT. Advaxis has two additional immunotherapy products: ADXS-PSA in prostate cancer and ADXS-HER2 in HER2 expressing solid tumors, in human clinical development. In addition, Advaxis and Amgen are developing ADXS-NEO, an investigational cancer immunotherapy treatment designed to activate a patient's immune system to respond against the unique mutations, or neoepitopes, contained in and identified from each individual patient's tumor, with plans to commence a Phase 1 clinical trial in 2017.
This press release contains forward-looking statements, including, but not limited to, statements regarding Advaxis’ ability to develop the next generation of cancer immunotherapies, and the safety and efficacy of Advaxis’ proprietary immunotherapy, axalimogene filolisbac. These forward-looking statements are subject to a number of risks including the risk factors set forth from time to time in Advaxis’ SEC filings including, but not limited to, its report on Form 10-K for the fiscal year ended October 31, 2016, which is available at http://www.sec.gov.
Any forward-looking statements set forth in this presentation speak only as of the date of this presentation. We do not intend to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof other than as required by law.
You are cautioned not to place undue reliance on any forward-looking statements.