PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage
immuno-oncology company developing novel multifunctional
immunotherapeutic products, today announced that Stephen Glover has
been appointed to PDS’s Board of Directors, effective immediately.
Mr. Glover has been appointed to serve as a member of the Board of
Directors’ audit committee and compensation committee.
Mr. Glover has more than 30 years of experience
in the biopharmaceutical industry, specializing in developing
pharmaceutical business strategies, corporate and product
development, and commercialization and business optimization. His
breath of experience spans multiple Fortune 100 companies with
multiple transactions totaling over $10 billion. Mr. Glover is the
Co-Founder and Managing Principal for Asclepius Life Sciences Fund
and also the CEO and President of Variant Pharmaceuticals, an
emerging specialty pharmaceutical company developing drug therapies
for patients with rare diseases or conditions with limited or
sub-optimal treatment options.
Prior to Variant, Mr. Glover was the Co-founder
and Chief Business Officer of Coherus BioSciences (Nasdaq: CHRS), a
late-stage biologics platform company focused on delivering
high-quality biosimilar therapeutics. Prior to co-founding Coherus,
Mr. Glover was the President of Insmed Therapeutic Proteins as well
as Executive Vice President and Chief Business Officer of Insmed
Incorporated, where he was responsible for the creation of its
biosimilar business unit and its subsequent divestiture to Merck.
He has also held executive management roles at Andrx Corporation,
Roche Laboratories, Amgen Inc. and IMS Health. Mr. Glover currently
serves on the Board of Directors of Variant Pharmaceuticals, Tack
Surgical and InflamaCore. Additionally, Mr. Glover serves as an
Executive-in-Residence at the University of Miami U Innovation Life
Sciences Office. Mr. Glover holds a B.S. in Marketing from
Illinois State University.
Frank K. Bedu-Addo Ph.D., Chief Executive
Officer of PDS Biotechnology commented, “We are pleased to welcome
Steve to the PDS Board of Directors. His extensive experience
spanning the entire lifecycle of drug development, as well as his
deep transactional experience, will be invaluable as we plan to
initiate two phase 2 clinical studies for our lead asset, PDS0101,
in the fourth quarter of 2019. We look forward to leveraging the
experience of our newly strengthened Board of Directors to help
guide PDS’s strategic directions as we continue to develop our
novel Versamune® platform.”
Mr. Glover added, “I am excited to join the PDS
Board of Directors and look forward to working with PDS’s
scientific and executive leaders. I believe that PDS’s
proprietary Versamune platform and exciting pipeline of product
candidates present a unique opportunity to treat cancers. I look
forward to leveraging my wealth of experience in the industry and
working with the PDS team to help guide the company toward
success.”
About PDS Biotechnology
PDS Biotechnology is a clinical stage
immuno-oncology company with a growing pipeline of clinical-stage
immunotherapies to treat various early-stage and late-stage
cancers, including head and neck cancer, prostate cancer, breast
cancer, cervical cancer, anal cancer, and other cancers.
PDS Biotechnology’s lead product candidate,
PDS0101, is an off-the-shelf immunotherapy that is administered by
subcutaneous injection. PDS0101 has demonstrated potent
in-vivo induction of the critical phenotype of tumor-attacking
killer (CD8) T-cells, and induction of memory T-cells, in a human
Phase 1/2a clinical study. No dose-limiting toxicities were
observed in that Phase 1/2a study, suggesting potential for a rare
combination of potency and safety in the cancer-treating
immunotherapeutic product class. Previous PDS0101 preclinical
studies also demonstrated potent CD8 T-cell induction, as well as
the ability to completely regress advanced HPV-positive tumors with
low doses of the immunotherapy.
For additional information about PDS
Biotechnology, please visit www.pdsbiotech.com.
About Versamune®
Versamune® is a proprietary, clinical stage,
synthetic lipid-based immunotherapy platform. PDS’s pipeline of
Versamune®-based products, which are all administered by
subcutaneous injection, provides strong activation of type I
interferon genes. The Versamune® mechanism of action also
involves effective presentation of tumor antigens via the MHC Class
I pathway. These two mechanisms together promote strong in-vivo
induction of polyfunctional tumor-targeting CD8+ T-cells. This
result, as well as a high degree of safety, was confirmed in the
PDS0101 Phase 1/2a human clinical trial.
Versamune®-based immunotherapies have been
demonstrated to alter the tumor micro-environment in preclinical
mechanism of action studies, thus further enhancing the ability of
Versamune®-induced T-cells to effectively kill tumor cells.
Versamune® is now being applied to the development of multiple
clinical-stage cancer products, including those intended to address
both early and late-stage cancer indications as monotherapies, as
well as combinations with other successful immuno-oncology
approaches such as checkpoint inhibitors.
Forward Looking Statements
This communication contains forward-looking
statements (including within the meaning of Section 21E of the
United States Securities Exchange Act of 1934, as amended, and
Section 27A of the United States Securities Act of 1933, as
amended) concerning PDS Biotechnology and other matters. These
statements may discuss goals, intentions and expectations as to
future plans, trends, events, results of operations or financial
condition, or otherwise, based on current beliefs of the management
of PDS Biotechnology, as well as assumptions made by, and
information currently available to, management. Forward-looking
statements generally include statements that are predictive in
nature and depend upon or refer to future events or conditions, and
include words such as “may,” “will,” “should,” “would,” “expect,”
“anticipate,” “plan,”
“likely,” “believe,” “estimate,” “project,” “intend,” and
other similar expressions among others. Statements that are not
historical facts are forward-looking statements. Forward-looking
statements are based on current beliefs and assumptions that are
subject to risks and uncertainties and are not guarantees of future
performance. Actual results could differ materially from those
contained in any forward-looking statement as a result of various
factors, including, without limitation: the ability of the PDS
Biotechnology to access capital markets, the timing for PDS
Biotechnology to initiate two clinical trials for its lead asset,
PDS0101, and legislative, regulatory, political and economic
developments. The foregoing review of important factors that could
cause actual events to differ from expectations should not be
construed as exhaustive and should be read in conjunction with
statements that are included herein and elsewhere, including the
risk factors included in the documents filed by PDS Biotechnology
and its predecessor entity, Edge Therapeutics, Inc. (“Edge”), with
the Securities and Exchange Commission from time to time, including
Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q,
Current Reports on Form 8-K and Amendment No. 1 to the Form S-4
filed by Edge on January 25, 2019. Except as required by applicable
law, the PDS Biotechnology undertakes no obligation to revise or
update any forward-looking statement, or to make any other
forward-looking statements, whether as a result of new information,
future events or otherwise.
Media & Investor Relations
Contact:Lee RothThe Ruth GroupPhone: +1-646-536-7012Email:
lroth@theruthgroup.com
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