Current Chairman, David Drutz, M.D., remains Chairman of Compensation Committee and Member of the Board
GAITHERSBURG, Md., Jan. 03, 2018 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq:ALT), a clinical-stage immunotherapeutics company, today announced the election of Mitchel Sayare, Ph.D. as the Chairman of the Company’s Board of Directors, effective January 1, 2018. The Board’s current Chairman, David Drutz, M.D., will remain on as Chairman of the Compensation Committee and Member of the Board.
“We have enjoyed working closely with Mitch as an active member of the Board since the merger with PharmAthene last year. Mitch brings tremendous experience as Chairman of the PharmAthene Board and valuable industry insight as the former CEO of Immunogen for 23 years; his input has proven to be invaluable,” said Bill Enright, Chief Executive Officer of Altimmune. “We thank David for his leadership through two transformative mergers and will continue to seek his scientific and clinical development counsel as a member of our Board. We anticipate several important milestones in both our NasoVAXTM and HepTcellTM development programs in the coming months, and we look forward to a transformational 2018.”
Dr. Mitchel Sayare joined PharmAthene’s Board of Directors in April 2010, after having served as Chairman and Chief Executive Officer of ImmunoGen, a publicly traded biotechnology company engaged in the research and development of antibody-based cancer therapeutics. During his tenure with ImmunoGen, Dr. Sayare was responsible for leading a successful IPO and raising over $300 million in venture capital and public equity financing for the company in addition to several hundred million dollars in non-dilutive financing. Dr. Sayare sits on a number of other for-profit and not-for-profit boards in the life sciences. He earned his Ph.D. in biochemistry from the Temple University School of Medicine and his undergraduate degree from Ursinus College from which he also holds a D.Sc.
Altimmune is a clinical-stage immunotherapeutics company focused on the development of products to stimulate robust and durable immune responses for the prevention and treatment of disease including NasoVAX, a Phase 2 seasonal influenza vaccine candidate, and HepTcell, a Phase 1 immunotherapeutic candidate for the potential cure of chronic hepatitis B. The company also has two United States government funded, next-generation anthrax vaccine candidates that are intended to improve protection and safety while having favorable dosage and storage requirements compared to other anthrax vaccines.
Any statements made in this press release relating to future financial or business performance, conditions, plans, prospects, trends, or strategies and other financial and business matters, including without limitation, the prospects for commercializing or selling any product or drug candidates, and the Company’s leadership are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, when or if used in this press release, the words “may,” “could,” “should,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “predict” and similar expressions and their variants, as they relate to Altimmune, Inc. (the “Company”) may identify forward-looking statements. The Company cautions that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time. Important factors that may cause actual results to differ materially from the results discussed in the forward looking statements or historical experience include risks and uncertainties, including risks relating to: realizing the benefits of the merger between Altimmune, Inc. and PharmAthene, Inc.; clinical trials and the commercialization of proposed product candidates (such as marketing, regulatory, product liability, supply, competition, dependence on third parties and other risks); the regulatory approval process; dependence on intellectual property; the Company’s BARDA contract and other government programs, reimbursement and regulation; and the lack of financial resources and access to capital to fund proposed operations. Further information on the factors and risks that could affect the Company's business, financial conditions and results of operations are contained in the Company’s filings with the U.S. Securities and Exchange Commission, including under the heading “Risk Factors” in the Form 10-K filed March 14, 2017, Forms 10-Q filed August 14, 2017 and November 9, 2017, and in a Form 8-K filed August 17, 2017, which are available at www.sec.gov.
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