PDS Biotechnology Announces Resignation of Andrew Saik as CFO
March 23 2020 - 4:45PM
PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage
immuno-oncology company developing multiple therapies based on the
Company’s proprietary Versamune® T-cell activating technology,
today announced that Andrew Saik has resigned as the Company’s
Chief Financial Officer (CFO) and a director of the board to pursue
other professional opportunities, effective immediately. Mr.
Saik joined PDS Biotech following the merger with Edge Therapeutics
in March 2019, where he was the CFO. The board of directors has
initiated a search to identify a successor.
The Company's board of directors has appointed
Frank Bedu-Addo, Ph.D., the Company’s President and Chief Executive
Officer, as interim Principal Financial Officer and Janetta
Trochimiuk, PDS Biotech’s Controller as interim Principal
Accounting Officer until a permanent replacement has been
named. Ms. Trochimiuk is a seasoned finance professional with
over 20 years of experience, serving as Controller and CFO of
private and publicly listed companies. Ms. Trochimiuk holds a
Bachelor of Business Administration from Bernard M. Baruch College
and is a licensed CPA.
“On behalf of our board of directors, we would
like to thank Andrew for his service and contributions as we
transitioned to a public company and successfully bolstered our
balance sheet with the recent capital raise based on our promising
Versamune platform technology. We wish him continued success in his
future endeavors and look forward to announcing a permanent
successor in the near term,” said Dr. Frank Bedu-Addo, CEO of PDS
Biotech.
About PDS BiotechnologyPDS
Biotech is a clinical-stage immuno-oncology company developing
multiple therapies based on the Company’s proprietary Versamune®
T-cell activating technology platform. The Versamune®
platform effectively delivers tumor-specific antigens for in vivo
uptake and processing, while also activating a critical
immunological pathway, the type 1 interferon pathway, thus
resulting in the production of potent tumor-specific killer
T-cells. Using Versamune®, PDS Biotech is engineering
therapies designed to better recognize cancer cells and break down
their defense systems to effectively attack and destroy
tumors. PDS Biotech’s pipeline combines the Versamune®
technology with tumor-specific antigens across several cancer
types. To learn more, please visit www.pdsbiotech.com or
follow us on Twitter at @PDSBiotech.About
PDS0101PDS Biotech’s lead candidate, PDS0101, combines the
utility of the Versamune® platform with targeted antigens in
HPV-expressing cancers. In partnership with Merck, PDS
Biotech is advancing a combination of PDS0101 and KEYTRUDA® to a
Phase 2 study in first line treatment of recurrent or metastatic
head and neck cancer. In partnership with the National Cancer
Institute (NCI), PDS Biotech is also advancing a combination of
PDS0101 and two clinical stage immunotherapies to a Phase 2 study
in advanced HPV-associated cancers. A third phase 2 study is
to be performed in advanced localized cervical cancer combining
PDS0101 with the chemoradiotherapy, which is the standard of
care.
Forward Looking StatementsThis
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
Corporation (the “Company”) 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 Company’s management, 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 Company’s ability to
protect its intellectual property rights; potential adverse
reactions or changes to business relationships resulting from the
resignation of the Company’s Chief Financial Officer or the
Company’s ability to find a replacement Chief Financial Officerthe
Company’s anticipated capital requirements, including the Company’s
anticipated cash runway and the Company’s current expectations
regarding its plans for future equity financings; the timing for
the Company or its partners to initiate the planned clinical trials
for its lead assets, PDS0101 and PDS0102; the Company’s
interpretation of the results of its Phase 1 trial for PDS0101 and
whether such results are sufficient to support additional trials or
the future success of such trials; the successful
implementation of the Company’s research and development programs
and collaborations, including any collaboration studies concerning
PDS0101 and the Company’s interpretation of the results and
findings of such programs and collaborations and whether such
results are sufficient to support the future success of the
Company’s product candidates; the acceptance by the market of the
Company’s product candidates, if approved; the timing of and
the Company’s ability to obtain and maintain U.S. Food and
Drug Administration or other regulatory authority approval of,
or other action with respect to, the Company’s product
candidates; and other factors, including legislative,
regulatory, political and economic developments not within the
Company’s control, including unforeseen circumstances or other
disruptions to normal business operations arising from or related
to COVID-19. 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 Company’s annual and periodic reports
filed with the SEC. The forward-looking statements are made only as
of the date of this press release and, except as required by
applicable law, the Company 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:
Deanne RandolphPDS BiotechPhone: +1 (908)
517-3613Email: drandolph@pdsbiotech.com
Tram Bui / Alexander LoboThe Ruth GroupPhone: +1
(646) 536-7035 / +1 (646) 536-7037Email: tbui@theruthgroup.com /
alobo@theruthgroup.com
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