SAN DIEGO, July 16, 2019 /PRNewswire/ -- Immunic,
Inc. (Nasdaq: IMUX), a
clinical-stage biopharmaceutical company focused on
developing potentially best-in-class, oral therapies for the
treatment of chronic inflammatory and autoimmune diseases, today
announced the appointment of Sanjay S.
Patel, CFA, as Chief Financial Officer, effective
July 15, 2019. Mr. Patel replaces
Tamara A. Seymour, who has served as
the company's Interim Chief Financial Officer since April 26, 2019.
"We welcome Sanjay to the Immunic team. With a deep well of
C-Suite and investment banking experience, Sanjay's proven track
record, strong knowledge base and established industry
relationships will be especially important as we continue to move
our pipeline, including our lead compound, IMU-838, through the
clinic and prepare for a number of value-creating milestones in the
coming year and beyond," stated Daniel
Vitt, Ph.D., Chief Executive Officer and President of
Immunic. "I also want to extend the company's collective thanks to
Tamara, a seasoned industry veteran who seamlessly took the helm as
Interim Chief Financial Officer after the close of our transaction
with Vital Therapies."
From 2014 to 2016, Mr. Patel served as Chief Financial Officer
of Pernix Therapeutics Holdings, Inc., a holding company that owned
several specialty pharmaceutical subsidiaries. He assumed
responsibility for mergers and acquisitions, business
development, corporate finance, investor relations,
finance/accounting and information technology. While at Pernix, Mr.
Patel was instrumental in sourcing and executing acquisitions in
excess of $600 million, and raising
more than $460 million in various
financing transactions.
From 2009 to 2014, Mr. Patel was Managing Director, Healthcare
Investment Banking at Cantor Fitzgerald, where he focused on the
specialty pharmaceutical, biotechnology and molecular diagnostics
sectors. From 2008 to 2009, Mr. Patel worked with the William J.
Clinton Foundation as Manager, Global Malaria Program, Drug Access
Team. In this role, he negotiated a multi-billion dollar,
multi-year supply chain agreement on behalf of the Geneva-based Global Fund with manufacturers of
mosquito nets, artemisinin-based therapies and HIV drugs.
Prior to that, from 2007 to 2008, Mr. Patel was Vice President,
Global Healthcare Investment Banking at Cowen and Company, where he
worked primarily on mergers and acquisitions and financing
alternatives for companies in the specialty pharmaceutical and
life-science tools industries. Mr. Patel spent the prior five years
as a Financial Analyst at Sectoral Asset Management. His entry into
investment banking began in 1998 at UBS Warburg, where he served
for three years as Associate Director, Global Healthcare Group.
Mr. Patel holds a CFA (Chartered Financial Analyst) designation
from the CFA Institute and a Bachelor of Science in Biology from
McGill University.
About Immunic, Inc.
Immunic, Inc. (Nasdaq: IMUX) is a
clinical-stage biopharmaceutical company developing a pipeline of
selective oral immunology therapies aimed at treating chronic
inflammatory and autoimmune diseases, including ulcerative colitis,
Crohn's disease, relapsing-remitting multiple sclerosis, and
psoriasis. The company is developing three small molecule products:
IMU-838 is a selective immune modulator that inhibits the
intracellular metabolism of activated immune cells by blocking the
enzyme DHODH; IMU-935 is an inverse agonist of RORγt; and IMU-856
targets the restoration of the intestinal barrier function.
Immunic's lead development program, IMU-838, is in phase 2 clinical
development for ulcerative colitis and relapsing-remitting multiple
sclerosis, with an additional phase 2 trial in Crohn's disease
planned for 2019. An investigator-sponsored proof-of-concept
clinical trial for IMU-838 in primary sclerosing cholangitis is
planned to start at the Mayo Clinic. For further information,
please visit: www.immunic-therapeutics.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking
statements" that involve substantial risks and uncertainties for
purposes of the safe harbor provided by the Private Securities
Litigation Reform Act of 1995. All statements, other than
statements of historical facts, included in this press release
regarding strategy, future operations, future financial position,
future revenue, projected expenses, prospects, plans and objectives
of management are forward-looking statements. Examples of such
statements include, but are not limited to, statements relating to
Immunic's three development programs and the targeted diseases; the
potential for IMU-838, IMU-935 and IMU-856 to safely and
effectively target diseases; the nature, strategy and focus of the
company; the development and commercial potential of any product
candidates of the company; expectations regarding the
capitalization, resources and ownership structure of the company;
and the executive and board structure of the company. Immunic may
not actually achieve the plans, carry out the intentions or meet
the expectations or projections disclosed in the forward-looking
statements and you should not place undue reliance on these
forward-looking statements. Such statements are based on
management's current expectations and involve risks and
uncertainties. Actual results and performance could differ
materially from those projected in the forward-looking statements
as a result of many factors, including, without limitation, risks
and uncertainties associated with the ability to project future
cash utilization and reserves needed for contingent future
liabilities and business operations, the availability of sufficient
resources to meet business objectives and operational requirements,
the fact that the results of earlier studies and trials may not be
predictive of future clinical trial results, the protection and
market exclusivity provided by Immunic's intellectual property,
risks related to the drug development and the regulatory approval
process and the impact of competitive products and technological
changes. Immunic disclaims any intent or obligation to update these
forward-looking statements to reflect events or circumstances that
exist after the date on which they were made.
Contact Information
Immunic, Inc.
Jessica Breu
Manager IR and Communications
+49 89 250 0794 69
jessica.breu@immunic.de
Or
Rx Communications Group
Melody Carey
+1-917-322-2571
immunic@rxir.com
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SOURCE Immunic, Inc.