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Immunomic Therapeutics Shareholders Elect Board, Barry McDonald as Chairman
At the Immunomic Therapeutics, Inc., ("ITI") 2011 shareholder meeting held at the Philadelphia Law Offices of Lowe & Associates, shareholders elected its 2011-12 Board of Directors and approved Mr. Barry McDonald as Board Chairman.
April 14, 2011 /Employment - Careers PR News/ -- At the Immunomic Therapeutics, Inc., ("ITI") 2011 shareholder meeting held at the Philadelphia Law Offices of Lowe & Associates, shareholders elected its 2011-12 Board of Directors and approved Mr. Barry McDonald as Board Chairman. The Board includes: William Hearl, Ph.D., Mr. Barry McDonald, Bruce Mackler, Ph.D., J.D., Ron Thiboutot, Ph.D., and Mr. James Wishart. Under the by-laws of the Company, board members are elected for a term of 1 year or until they are replaced. In addition to Winston Lowe, Esq., Secretary and Corporate Counsel, the Board is supported by three nonvoting observers, Mr. Bernard Rudnick, Mr. Kal Vepuri and Charles V. Grudzinskas, Ph.D.
The election of Mr. McDonald as Chairman of the Board occurs at a pivotal time for Immunomix. Having achieved its 2010 fund raising goals it is well positioned for its first allergy vaccine clinical trial. "Barry McDonald's extensive contacts throughout the industry, long track record and success in biotech ventures having lead many successful corporate partnerships in the global healthcare arena for emerging technology companies like ITI and his position on the Governance and Audit Committees of a publicly traded company (TSO3) are exactly what Immunomix needs as it enters the clinical phase", remarked Bill Hearl, ITI Chief Executive Officer.
Mr. McDonald has over 35 years experience in the health care industry as an operating executive and consultant and is the Chief Executive of McDonald & Associates, a strategic and transactional global health care advisory firm. He manages client assignments globally in the medical diagnostics, biotechnology, medical device and life science sectors. In 2008, Mr. McDonald was interim President and CEO of TSO3, a publicly traded Canadian company, manufacturing and marketing Ozone sterilizers to hospitals in North America. Mr. McDonald subsequently joined their Board of Directors, after assisting in a permanent CEO search.
Mr. McDonald is elevated to Chairman from his position as a member of ITI's Board of Directors. "As ITI moves from development to commercial stage with the LAMP-based allergy vaccines product opportunity and my long term involvement in the allergy market, I am confident that our management can lead ITI's corporate alliance discussions to a successful outcome on behalf of the company and our shareholders", remarked Mr. McDonald. "I am also pleased to have been elected Chairman following my 2-year involvement as a director and believe my experiences compliment those of our founder/CEO and those of our very experienced directors. We remain committed and excited about ITI's future business potential," added Mr. McDonald.
Mr. McDonald's entrepreneurial experience was gained as President and CEO of Photest Diagnostics, a venture capital backed emerging company. Responsible for technology commercialization, he led its ultimate sale to a European corporation. Mr. McDonald's corporate experience includes roles as President and CEO of MAST/Hitachi and simultaneously headed an executive staff within Hitachi Chemical corporate life sciences business worldwide, responsible for new technology assessments, acquisitions, and business development activities.
Mr. McDonald's technical and scientific competencies were developed through academic degree programs and medical school experiences, with international strategic management schools in France, Japan, and at Wharton Business School and Columbia University rounding out his business skills. Mr. McDonald earned his BS in Biochemistry and M.S. in Microbiology and Genetics from The University of Southern Mississippi with post-graduate studies in the M.D./Ph.D. program at the University of Kentucky, Albert Chandler Medical School. Complete biographical sketches are available for all our board members are available on the ITI website at www.Immunomix.com
About ITI
Immunomic Therapeutics, Inc. (ITI) is developing next generation vaccines based on proprietary LAMP Technology (LAMP), a novel approach to nucleic acid vaccines invented at Johns Hopkins University; ITI owns the exclusive worldwide rights and license to LAMP. LAMP vaccines have been shown to induce both T-helper and cytokine activation through the MHC-II pathway in antigen presenting cells resulting in a strong antibody response and immunological memory while enhancing the cytotoxic T-cell activity that is characteristic of nucleic acid vaccines via the MHC-I pathway. In recognition of LAMP's promise to bridge the performance gap for DNA vaccines, ITI won the Frost & Sullivan 2010 DNA Vaccine Technology Innovation of the Year Award. For more information visit www.Immunomix.com
Forward-Looking Statement Disclaimer
Various statements in this release concerning ITI's future expectations, plans and prospects, including without limitation, statements relating to the growth of the Company's U.S. commercial vaccine presence constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those risks more fully discussed in the "Risk Factors" section of ITI's Annual Report for the year ended December 31, 2010. In addition, any forward-looking statements represent ITI's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. ITI does not assume any obligation to update any forward-looking statements unless required by law.
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