Immuron Appoints Gary S. Jacob, Ph.D., Experienced US Based Biotechnology Executive, as CEO
November 19 2018 - 9:00AM
Immuron Limited, (IMC or the Company), (ASX: IMC; NASDAQ: IMRN), is
pleased to announce the appointment of Gary S. Jacob as Chief
Executive Officer. Dr Jacob is the former Chairman, President and
Chief Executive Officer of Synergy Pharmaceuticals Inc. a
Nasdaq-listed public biopharmaceutical company located in New York,
NY focused on the development of drugs to treat gastrointestinal
disorders and diseases.
Dr. Jacob’s +30 years of extensive experience in
the pharmaceutical and biotechnology industries covers multiple
disciplines, including research and development, operations,
business development, capital financing activities and senior
management expertise. He is the co-founder and founding CEO of
Synergy Pharmaceuticals, which went public in 2008, and is the
co-inventor of TRULANCE® (plecanatide), an FDA
approved drug which was approved in January, 2017 to treat chronic
GI disorders and is currently being marketed in the U.S. by
Synergy. From the founding of Synergy in 2008 as a public company
until the FDA approval of TRULANCE® in 2017, Dr.
Jacob raised over $500 million USD of capital in the public
markets. During this period of time, Dr. Jacob led Synergy’s
interactions with investment bankers, biotechnology analysts,
institutional fund managers, and regulatory agencies.
The appointment of Dr. Jacob follows an
extensive search conducted by the Board of Immuron for a CEO with
proven ability to advance the Company, assist in regulatory and
scientific advancements, and guide the research and development of
Immuron’s products into commercialisation.
Chairman of Immuron, Dr. Roger Aston was pleased
to secure the services of a proven CEO with the track record of
development and growth, “We have been looking for the best
qualified industry executive that had both the skills in
development and commercialisation but also the track record with
investment institutions across the biotech and pharmaceutical
space. We are confident that Gary covers these prerequisites and we
are looking forward to having him join the Company to help drive
the transition phase of Immuron and its key research and
products.” Dr Jacob commented, “I have been
following the considerable progress that Immuron has made over this
past year, and I am excited to be able to bring my industry
expertise to the Company at this key stage of its
development.”
“I see tremendous opportunity with the
delivery platform that Immuron has so successfully developed for
its polyclonal antibodies product series. There is a
substantial potential global market for Immuron’s technology, and I
am confident that we can grow the Company’s global footprint within
this important space.”
Dr. Jacob currently also serves as Chairman
of ContraVir, a Nasdaq-listed antiviral company located in Edison,
NJ, and is also a director of Trovagene, Inc, a Nasdaq-listed
public company located in San Diego, CA which is focused on the
development of drugs to treat cancer.
Dr. Jacob earned a B.S. cum laude in Chemistry
from the University of Missouri – St. Louis, and holds a Ph.D. in
Biochemistry from the University of Wisconsin-Madison. He followed
his Ph.D. with a postdoctoral fellowship at the IBM T.J. Watson
Research Center in Yorktown Heights, NY. He is the recipient of an
honorary Doctor of Science degree from the University of
Missouri–St. Louis, and was recently honored as a Distinguished
Alumnus of the University.
Dr Jerry Kanellos, who has served as Interim CEO
will move to the role of Chief Operating Officer. Dr Kanellos has
worked very diligently in this role during the past year and the
board thanks him for his ongoing and work to date.
ABOUT IMMURON:
Immuron Limited (ASX: IMC, NASDAQ: IMRN), is an
Australian microbiome biopharmaceutical company focused on
developing and commercializing orally delivered targeted polyclonal
antibodies for the treatment of inflammatory mediated and
infectious diseases. Immuron has a unique and safe technology
platform that enables a shorter development therapeutic cycle. The
Company currently markets and sells Travelan® for
the prevention of Travelers’ Diarrhoea and its lead clinical
candidate, IMM-124E, is in Phase II clinical trials for
Non-Alcoholic Steatohepatitis (NASH),
Severe Alcoholic Hepatitis (SAH) and Pediatric
Non-Alcoholic Fatty Liver Disease (NAFLD).
Immuron’s second clinical stage asset, IMM-529, is targeting
Clostridium difficile Infections (CDI). These
products together with the Company’s other preclinical
immunotherapy pipeline products targeting immune-related diseases
currently under development, will meet a large unmet need in the
global immunotherapy market.
For more information visit:
http://www.immuron.com
FORWARD-LOOKING STATEMENTS:
This press release may contain “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934,
each as amended. Such statements include, but are not limited to,
any statements relating to our growth strategy and product
development programs and any other statements that are not
historical facts. Forward-looking statements are based on
management’s current expectations and are subject to risks and
uncertainties that could negatively affect our business, operating
results, financial condition and stock value. Factors that could
cause actual results to differ materially from those currently
anticipated include: risks relating to our growth strategy; our
ability to obtain, perform under and maintain financing and
strategic agreements and relationships; risks relating to the
results of research and development activities; risks relating to
the timing of starting and completing clinical trials;
uncertainties relating to preclinical and clinical testing; our
dependence on third-party suppliers; our ability to attract,
integrate and retain key personnel; the early stage of products
under development; our need for substantial additional funds;
government regulation; patent and intellectual property matters;
competition; as well as other risks described in our SEC filings.
We expressly disclaim any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in our expectations or any
changes in events, conditions or circumstances on which any such
statement is based, except as required by law.
COMPANY CONTACT:
Roger Aston
Non-Executive Chairman
Ph: +61 (0)3 9824 5254
info@immuron.com
USA INVESTOR RELATIONS:
Dave Gentry - CEO
RedChip Companies, Inc.
US Ph: +1 (407) 491 4498
dave@redchip.com
AUS INVESTOR RELATIONS:
Peter Taylor
NWR Communications
Ph: +61 (0)4 1203 6231
peter@nwrcommunications.com.au
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