NEW YORK, Nov. 19, 2019 /PRNewswire/ -- Immunic,
Inc. (Nasdaq: IMUX), a clinical-stage biopharmaceutical
company focused on developing best-in-class, oral therapies for the
treatment of chronic inflammatory and autoimmune diseases, today
announced the appointment of Barclay "Buck" A. Phillips, an established life sciences
executive, investor and entrepreneur, to its Board of Directors,
effective November 14, 2019. With
this addition, Immunic's Board will total seven members.
"Buck's decades of relevant experience in the biotechnology
sector, both as a Chief Financial Officer and investor, will add a
unique perspective to our Board," stated Duane Nash, M.D., J.D., M.B.A., Chairman of the
Board of Directors of Immunic. "We look forward to leveraging his
significant expertise in the areas of financing strategy, capital
markets, business development, and others, which he has garnered
during his successful career as an executive and board member for
multiple, Nasdaq-listed life science companies. Buck's addition to
our team reflects our desire to build the Board during a time of
continued clinical progress and we look forward to his
contributions."
Until recently, Mr. Phillips
was Chief Financial Officer and Senior Vice President of Corporate
Development at G1 Therapeutics, Inc., where, among other
achievements, he was instrumental in raising over USD 300 million in multiple equity financings.
Before that, he served as Senior Vice President, Chief Financial
Officer and Treasurer of vaccine company, Novavax, Inc., where he
helped to raise more than USD 850
million in various financings to support the company's
late-stage clinical programs. Prior, Mr. Phillips was Senior Vice President and Chief
Financial Officer of Micromet, Inc., which, during his tenure, was
acquired by Amgen Inc. for approximately USD
1.2 billion. Mr. Phillips's
exposure to venture capital came earlier, while serving as a
Managing Director at Vector Fund Management, focused on investments
in late-stage life sciences companies, and during his time as
Biotechnology Analyst and Director of Venture Investments at
Invesco, where he held primary coverage responsibility for the
universe of publicly traded biotechnology companies, while managing
the firm's private equity investing, with a focus on life
sciences.
Mr. Phillips has served on the
boards of over a dozen public and private life sciences companies.
He earned a Bachelor of Arts in economics from the University of Colorado at Boulder.
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 relapsing-remitting
multiple sclerosis, ulcerative colitis, Crohn's disease, 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 relapsing-remitting multiple sclerosis and
ulcerative colitis, with an additional phase 2 trial planned in
Crohn's disease. An investigator-sponsored proof-of-concept
clinical trial for IMU-838 in primary sclerosing cholangitis is
ongoing 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 clinical
and preclinical pipeline activities and the structure and
composition of its board. 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. A further list and
descriptions of these risks, uncertainties and other factors can be
found in the section captioned "Item 1A. Risk Factors," in the
company's Current Report on Form 8-K filed on July 17, 2019, and in the company's subsequent
filings with the Securities and Exchange Commission. Copies of
these filings are available online at www.sec.gov or
ir.immunic-therapeutics.com/sec-filings. Any forward-looking
statement made in this release speaks only as of the date of this
release. 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. Immunic expressly
disclaims all liability in respect to actions taken or not taken
based on any or all the contents of this press release.
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.