IMUNON Appoints Dr. Sebastien Hazard as Chief Medical Officer and Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
2023年12月11日 - 10:30PM
IMUNON, Inc. (NASDAQ: IMNN), a
clinical-stage drug-development company focused on developing
non-viral DNA-mediated immunotherapy and next-generation vaccines,
announces the appointment of Sebastien Hazard, M.D. as Chief
Medical Officer, effective December 11, 2023. Dr. Hazard brings to
IMUNON a strong background in building and leading clinical
development organizations, most recently at Bicycle Therapeutics.
He will report to IMUNON’s President and Chief Executive Officer,
Dr. Corinne Le Goff.
“We are delighted to welcome Dr. Hazard to
IMUNON to lead this important function,” said Dr. Le Goff. “The
timing is right to add a CMO to advance the clinical development of
our lead programs, in particular as we prepare to report topline
data in the second quarter of 2024 from the OVATION 2 Study with
IMNN-001, our gene-mediated IL-2 immunotherapy based on our
TheraPlas® platform, in advanced ovarian cancer. Sebastien will be
instrumental in supporting and crafting our go-forward strategy for
this drug, in particular because of his extensive oncology
experience including ovarian cancer.”
Dr. Hazard has nearly 25 years of experience in
drug development and commercialization. Most recently he was Senior
Vice President, Head of Clinical Development at Bicycle
Therapeutics, where he was instrumental in bringing the company’s
lead asset from early to late-stage clinical development. Prior to
joining Bicycle, Dr. Hazard was with GSK as Clinical Development
Lead, where he helped develop the PARP inhibitor niraparib across
multiple tumor types. Prior to joining GSK, he was Senior Medical
Director at TESARO, which was subsequently acquired by GSK, working
to develop niraparib as a first-line treatment for ovarian cancer.
In addition to holding various positions at Genentech, F.
Hoffmann-La Roche, Roche and Novartis, earlier in his career Dr.
Hazard served as an advisor to the head of the French Drug Agency
and to the French Health Minister’s cabinet.
Dr. Hazard holds a Doctorate in Medicine,
Internal Medicine and Public Health from Paris VI Pitie
Salpetriere, an Executive MBA from INSEAD and a Master’s degree in
epidemiology and statistics applied to clinical research from Paris
VI University.
The Company also announced today that on
December 7, 2023, in connection with Dr. Hazard’s appointment as
CMO, the Compensation Committee of the Board of Directors of the
Company approved an inducement option to purchase 80,000 shares of
common stock (the “Inducement Option”) and a restricted inducement
stock grant of 20,000 shares of common stock (the “Restricted
Inducement Grant”) to Dr. Hazard. The Inducement Option has an
exercise price of $0.88 per share, which is equal to the closing
price of the Company’s common stock on the Nasdaq Capital Market on
December 7, 2023, will vest over four years, subject to Dr.
Hazard’s continued service with the Company on each applicable
vesting date, with 25% of the underlying shares vesting on the
one-year anniversary of the vesting commencement date, and 75% of
the underlying shares vesting in equal installments over the next
twelve calendar quarters. The Restricted Inducement Grant will vest
on the one-year anniversary of Dr. Hazard’s first day of
employment, subject to Dr. Hazard’s continued service with the
Company on such date. Each of the Inducement Option and the
Restricted Inducement Grant is an inducement material to Dr. Hazard
entering into employment with the Company in accordance with Nasdaq
Listing Rule 5635(c)(4).
About IMUNON
IMUNON is a fully integrated, clinical-stage
biotechnology company focused on advancing a portfolio of
innovative treatments that harness the body’s natural mechanisms to
generate safe, effective and durable responses across a broad array
of human diseases, constituting a differentiating approach from
conventional therapies. IMUNON is developing its non-viral DNA
technology across four modalities. The first modality, TheraPlas®,
is developed for the coding of proteins and cytokines in the
treatment of solid tumors where an immunological approach is deemed
promising. The second modality, PlaCCine®, is developed for the
coding of viral antigens that can elicit a strong immunological
response. This technology may represent a promising platform for
the development of vaccines in infectious diseases. The third
modality, FixPlas®, concerns the application of our DNA technology
to produce universal cancer vaccines, also called tumor associated
antigen cancer vaccines. The fourth modality, IndiPlas®, is in the
discovery phase and will focus on the development of personalized
cancer vaccines, or neoepitope cancer vaccines.
The Company’s lead clinical program, IMNN-001,
is a DNA-based immunotherapy for the localized treatment of
advanced ovarian cancer currently in Phase 2 development. IMNN-001
works by instructing the body to produce safe and durable levels of
powerful cancer-fighting molecules, such as interleukin-12 and
interferon gamma, at the tumor site. Additionally, the Company is
conducting IND-enabling preclinical studies for the development of
a COVID-19 booster vaccine (IMNN-101) and a treatment for the LASSA
virus (IMNN-102). The Company has also initiated preclinical work
to develop a Trp2 tumor associated antigen cancer vaccine in
melanoma (IMNN-201). We will continue to leverage these modalities
and to advance the technological frontier of plasmid DNA to better
serve patients with difficult-to-treat conditions. For more
information on IMUNON, visit www.imunon.com.
Forward-Looking Statements
IMUNON wishes to inform readers that
forward-looking statements in this news release are made pursuant
to the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995. Readers are cautioned that such
forward-looking statements involve risks and uncertainties
including, without limitation, unforeseen changes in the course of
research and development activities and in clinical trials; the
uncertainties of and difficulties in analyzing interim clinical
data; the significant expense, time and risk of failure of
conducting clinical trials; the need for IMUNON to evaluate its
future development plans; possible acquisitions or licenses of
other technologies, assets or businesses; possible actions by
customers, suppliers, competitors or regulatory authorities; and
other risks detailed from time to time in IMUNON’s filings with the
Securities and Exchange Commission. IMUNON assumes no obligation to
update or supplement forward-looking statements that become untrue
because of subsequent events, new information or otherwise.
Contacts:
IMUNON |
LHA Investor
Relations |
Jeffrey W. Church |
Kim Sutton Golodetz |
Executive Vice President,
CFO |
212-838-3777 |
and Corporate Secretary |
Kgolodetz@lhai.com |
609-482-2455 |
|
jchurch@imunon.com |
|
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