Immune Appoints Cameron Durrant, MD, MBA to Board of Directors
14 Juillet 2014 - 8:30AM
Immune Pharmaceuticals Inc. (OTCQX:IMNP) (Nasdaq:IMNP) ("Immune" or
"the Company") appointed Dr. Cameron Durrant as new independent
director. Dr. Durant becomes a Member of the Compensation Committee
and the R&D Committee.
Dr. Durrant, commented: "I am excited to join Immune's board at
this critical stage in the evolution of the company. I believe
Immune has promising programs in key therapeutic areas with high
unmet need, such as immunology and oncology. Further, I
believe that the focus on certain orphan conditions and the
prospect of a more personalized approach underscores the potential
for Immune."
Dr. Durrant is an accomplished biotech entrepreneur, marketer,
financier, and a business and corporate development professional
with a strong medical base as an MD. He has served as board
chairman and director and operated as CEO or interim CEO, as well
as CFO, for both private and public companies. Most recently, Dr.
Durrant served as a corporate officer of Hi-Tech Pharmacal
(recently sold to Akorn) and CEO of the ECR division (subsequently
divested by Akorn to Valeant). He has been a senior
executive at Johnson and Johnson as Worldwide Vice President,
and previously as Vice President Pharmacia Corporation (until its
acquisition by Pfizer). Dr. Durrant started his career at Merck and
then at GSK. He has served as the founding investor, Chairman,
CEO and CFO of publicly-traded PediatRx, Executive Chairman of
publicly-traded Anavex, CEO of PediaMed Pharmaceuticals, a founding
director of Bexion Pharmaceuticals, a board member of Topaz
Pharmaceuticals (acquired by sanofi-aventis), a board member of
Alcyone Life Sciences and ReliefBand Technologies. Dr. Durrant has
been an advisor to Microsoft Corporation, Prism Pharmaceuticals
(acquired by Baxter), Pilgrim Software (acquired by a private
equity group), Aprecia Pharmaceuticals and Saxa Private Equity
Partners. He has also been involved in creating companies around
targeted early-stage technologies with Cincinnati Children's
Hospital and assisted numerous private equity groups in their
diligence efforts. Dr. Durrant earned his medical degree from the
Welsh National School of Medicine, Cardiff, UK, his DRCOG from the
Royal College of Obstetricians and Gynecologists, London, UK, his
MRCGP from the Royal College of General Practitioners, London, UK,
and his DipCH from the Melbourne Academy, Australia and his Master
of Business Administration from Henley Management College, Oxford,
UK.
Dr. Daniel Teper, Immune's Chairman and CEO, commented: "I have
been privileged to work with Cameron in several of his leadership
roles at GSK, Pharmacia, J&J and PediaMed. His entrepreneurial
drive along with the discipline acquired at leading companies and
his extensive board experience at public and private companies will
be a strong asset as Immune expands its clinical development and
commercialization activities."
About Immune Pharmaceuticals Inc.
Immune Pharmaceuticals Inc. applies a personalized approach to
treatment, developing novel, highly targeted antibody therapeutics
to improve the lives of patients with inflammatory diseases and
cancer. The Company's lead product candidate, bertilimumab, is
in clinical development for moderate to severe ulcerative
colitis and Crohn's Disease as well as bullous pemphigoid, an
orphan auto-immune dermatological condition. Immune licensed
worldwide rights for systemic indications of bertilimumab from iCo
Therapeutics (TSX-V:ICO) (OTCQX:ICOTF) in June 2011, while iCo
retained rights to all ophthalmic indications. iCo originally
licensed the exclusive world-wide rights to bertilimumab in 2006
from MedImmune, the Global Research and Development arm of
Astra-Zeneca. Immune's pipeline also includes NanomAbs®, a
portfolio of antibody nanoparticle conjugates, for the targeted
delivery of chemotherapeutics, crolibulin, a small molecule in
Phase II for (indication) in collaboration with the National Cancer
Institute and Amiket™, a Phase III-ready neuropathic pain
candidate. Amiket has received Orphan Drug Designation for
Post-Herpetic Neuralgia in the US.
For more information, please visit Immune's website at
www.immunepharmaceuticals.com, the content of which is not a part
of this press release.
Erik Penser Bankaktiebolag is engaged as Immune's Certified
Adviser on NASDAQ OMX First North Premier.
Forward-Looking Statements
This news release and any oral statements made with respect to
the information contained in this news release contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. You are urged to consider
statements that include the words "may," "will," "would," "could,"
"should," "believes," "estimates," "projects," "potential,"
"expects," "plans," "anticipates," "intends," "continues,"
"forecast," "designed," "goal" or the negative of those words or
other comparable words to be uncertain and forward-looking. Such
forward-looking statements include statements that express plans,
anticipation, intent, contingency, goals, targets, future
development and are otherwise not statements of historical fact.
These statements are based on our current expectations and are
subject to risks and uncertainties that could cause actual results
or developments to be materially different from historical results
or from any future results expressed or implied by such
forward-looking statements. Factors that may cause actual results
or developments to differ materially include, but not limited to:
the risks associated with the adequacy of our existing cash
resources and our ability to continue as a going concern; the risks
associated with our ability to continue to meet our obligations
under our existing debt agreements; the risk that we will not be
able to find a partner to help conduct the Phase III trials for
AmiKet on attractive terms, a timely basis or at all the risk that
we will not obtain approval to market and commercialize any of our
product candidates; the risks associated with dependence upon key
personnel; the risks associated with reliance on collaborative
partners and others for further clinical trials, development,
manufacturing and commercialization of our product candidates; the
cost, delays and uncertainties associated with our scientific
research, product development, clinical trials and regulatory
approval process; our history of operating losses since our
inception; the highly competitive nature of our business; risks
associated with litigation; risks associated with our ability to
protect our intellectual property; risks associate with our ability
to raise additional funds; and our liquidity. These factors and
other material risks are more fully discussed in our periodic
reports, including our reports on Forms 8-K, 10-Q and 10-K and
other filings with the U.S. Securities and Exchange Commission. You
are urged to carefully review and consider the disclosures found in
our filings which are available at www.sec.gov or at
www.immunepharmaceuticals.com. You are cautioned not to place undue
reliance on any forward-looking statements, any of which could turn
out to be wrong due to inaccurate assumptions, unknown risks or
uncertainties or other risk factors. We expressly disclaim any
obligation to publicly update any forward-looking statements
contained herein, whether as a result of new information, future
events or otherwise, except as required by law.
CONTACT: Immune Pharmaceuticals Inc.:
708 Third Avenue, Suite 210
New York, NY 10017
Anna Baran, Senior Director of Investor Relations and
Corporate Communications
Tel: (646) 937-1941
anna.baran@immunepharma.com
Immune Pharmaceuticals Ltd.:
11C Galgale HaPlada
Herzliya-Pituach, Israel 46733
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