AIM ImmunoTech Announces Corporate Governance Enhancements
09 Novembre 2022 - 3:00PM
Business Wire
Board Plans to Initiate Process to Add Two
Additional Directors with Focus on Diverse Candidates who Possess
Biotechnology Commercialization Experience
Compensation Committee to Engage Nationally
Recognized Independent Compensation Consultant to Evaluate Current
Executive Compensation Plans
AIM ImmunoTech Inc. (NYSE American: AIM) (“AIM” or the
“Company”) today announced the following corporate governance
enhancements:
- The Governance and Nominating Committee of the AIM Board of
Directors (the “Board”) has initiated a process to add two
directors who bring diversity and additional biotechnology
commercialization experience to the Board.
- The Compensation Committee of the Board will engage a
nationally recognized independent compensation consultant to
evaluate the compensation plans currently in place for the
Company’s executives. If appropriate, based on these inputs, the
Compensation Committee will consider adjustments to the
compensation structure of AIM’s executives.
William Mitchell, M.D., Ph.D., Independent Chairman of the AIM
Board, stated: “We are taking these important steps in response to
the feedback we have received from shareholders in connection with
the recent 2022 Annual Meeting. We value engagement with our
shareholders and their thoughtful and constructive input, and we
intend to continue these discussions in the year ahead. The
corporate governance enhancements we are announcing today are
designed to further strengthen our Board through the addition of
new independent directors with in-depth knowledge of biotechnology
commercialization and diverse backgrounds, and to further align the
Company’s leadership with AIM’s performance and the best interests
of all shareholders. We have heard what shareholders have to say –
including their lack of support for the advisory vote on the
approval of executive compensation at the past two Annual Meetings
– and we are taking action to address their concerns.”
Mitchell continued: “Over the past year AIM ImmunoTech has made
significant progress achieving multiple clinical and regulatory
advances. Clinical milestones include the publication in Cancers of
an early access program sponsored by the Dutch government which
showed improvement in survival of locally advanced and metastatic
pancreatic cancer patients with Ampligen as a single agent
maintenance therapy following standard of care FOLFIRINOX; an
abstract published at the American Association for Cancer Research
Annual Meeting 2022 of positive data from a Phase 1 study in
patients with metastatic triple-negative (TN) breast cancer using
chemokine modulation therapy, which includes Ampligen as a key
component, and Keytruda®; the publication of an abstract at the
American Association for Cancer Research Annual Meeting 2022 of
positive interim data from a Phase 2 study, which indicates
significant survival advantage when Ampligen is combined with
Cisplatin and Keytruda® in advanced recurrent ovarian cancer; and
regulatory advances including the Food and Drug Administration’s
(“FDA”) authorization of Ampligen in a Phase 2 study (AMP-270) of
locally advanced pancreatic cancer following FOLFIRINOX, FDA
authorization of an Ampligen study (AMP-518) for post-COVID
conditions / persistent ME/CFS-like symptoms often referred to by
patients as “long hauler syndrome”, and the FDA’s granting of
Orphan Drug Designation to Ampligen for the treatment of both
pancreatic cancer and Ebola virus disease.”
Mitchell concluded: “Moving forward, AIM will continue to work
hard to build on these accomplishments and reach successive
milestones in the commercial development of our pipeline. We remain
convinced of the excellent potential of the Company to benefit
patients and deliver value for shareholders.”
About AIM ImmunoTech Inc.
AIM ImmunoTech Inc. is an immuno-pharma company focused on the
research and development of therapeutics to treat multiple types of
cancers, immune disorders, and viral diseases, including COVID-19.
The Company’s lead product, Ampligen® (rintatolimod) is an
immuno-modulator with broad spectrum activity being developed for
globally important cancers, viral diseases and disorders of the
immune system.
Ampligen is currently being used as a monotherapy to treat
pancreatic cancer patients in an Early Access Program (EAP)
approved by the Inspectorate of Healthcare in the Netherlands at
Erasmus Medical Center and AIM has commenced a Phase 2 clinical
study in 2022. The Company also has multiple ongoing clinical
trials to evaluate Ampligen as a combinational therapy for the
treatment of a variety of solid tumor types both underway and
planned at major cancer research centers. Additionally, Ampligen is
approved in Argentina for the treatment of severe chronic fatigue
syndrome (CFS) and is currently being evaluated in many aspects of
SARS-CoV-2/COVID-19 myalgic encephalomyelitis/chronic fatigue
syndrome (ME/CFS) and post-COVID conditions.
For more information, please visit aimimmuno.com and connect
with the Company on Twitter, LinkedIn, and Facebook.
Forward-Looking
Statements
This press release contains certain forward-looking statements
that involve risks, uncertainties and assumptions that are
difficult to predict. Words and expressions reflecting optimism,
satisfaction or disappointment with current prospects, as well as
words such as “believes,” “hopes,” “intends,” “estimates,”
“expects,” “projects,” “plans,” “anticipates” and variations
thereof, or the use of future tense, identify forward-looking
statements, but their absence does not mean that a statement is not
forward-looking. The Company’s forward-looking statements are not
guarantees of performance, and actual results could vary materially
from those contained in or expressed by such statements due to
risks, uncertainties and other factors. The Company urges investors
to consider specifically the various risk factors identified in its
most recent Form 10-K, and any risk factors or cautionary
statements included in any subsequent Form 10-Q or Form 8-K, filed
with the Securities and Exchange Commission. You are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. Except as required
by law, the Company does not undertake any responsibility to update
any forward-looking statements to take into account events or
circumstances that occur after the date of this press release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221108006269/en/
Investor:
JTC Team, LLC Jenene Thomas 833-475-8247 AIM@jtcir.com
Media:
Longacre Square Partners Joe Germani / Dan Zacchei
jgermani@longacresquare.com / dzacchei@longacresquare.com
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