UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM 8-K

Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report (date of earliest event reported): November 12, 2014

 
LION BIOTECHNOLOGIES, INC.
(Exact Name of Registrant as Specified in Charter)
Nevada
  
75-3254381
(State or other jurisdiction of
  
(I.R.S. employer
incorporation or organization)
  
identification number)

21900 Burbank Blvd, Third Floor, Woodland Hills, CA 91367
(Address of principal executive offices and zip code)
(818) 992-3126
(Registrant’s telephone number, including area code)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).

¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).

¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).

¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).


 
 
 
 

Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
 
On November 12, 2014, Lion Biotechnologies Inc. (the “Company”) received a letter, dated November 12, 2014, from Manish Singh, PhD, the Company’s Chief Executive Officer and a director and the Chairman of the Board of Directors, informing the Company that he has resigned as a director of the company, effective immediately, and that he will resign as the Chief Executive Officer of the Company effective December 31, 2014.  In his resignation letter, Dr. Singh advised the Company that he is not resigning because of a disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
 
Item 8.01
Other Events
 
On November 12, 2014, the Company issued a press release with respect to the foregoing.  A copy of the press release is furnished as Exhibit 99.1 hereto.

Item 9.01
Financial Statements and Exhibits
 
(d)           Exhibits
 
Exhibit No.
  
Description
99.1
  
Press Release issued by the Company on November 12, 2014.

 
 
 
 
 
 

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.


 
LION BIOTECHNOLOGIES, INC.
  
       
Date: November 12, 2014
By:
/s/ Michael Handelman
  
   
Michael Handelman, Chief Financial Officer
  
       
       




Exhibit 99.1
 
Lion Biotechnologies Announces Management Change

Company Remains on Track to Achieve Strategic Objectives


LOS ANGELES, CA (November 12, 2014) – Lion Biotechnologies, Inc. (LBIO), a biotechnology company that is developing novel cancer immunotherapies based on tumor infiltrating lymphocytes (TILs), today announced that its chief executive officer Manish Singh, PhD, is resigning for personal reasons, effective December 31, 2014.  In addition, Dr. Singh is stepping down as a director of Lion, effective immediately. The company’s board of directors intends to appoint a new CEO prior to Dr. Singh’s departure.

For the remainder of this year, Dr. Singh will stay actively involved in Lion’s management as the company prepares to file an investigational new drug application before year-end to support a Phase 2 clinical trial in metastatic melanoma, which trial the company currently expects to initiate in the first quarter of 2015.

“Under Manish’s leadership, Lion has made great strides in research, clinical development and manufacturing, while establishing a solid balance sheet,” said Jay Venkatesan, MD, who serves on Lion’s board of directors. “In addition, he has built an outstanding executive team that has the strategic, scientific and operational experience to deliver the company's goals and milestones in a timely and effective manner. We are sorry to see Manish step down, and we thank him for his service and for putting Lion in a strong position to continue building value for patients, our partners and our shareholders.”

Dr. Singh added, "I'm grateful to have had the opportunity to lead Lion during this period of growth.  The field of immunotherapy is rapidly expanding, and with a distinguished management team that includes Dr. Elma Hawkins as president and chief operating officer, Dr. Laszlo Radvanyi as chief scientific officer, and Dr. James Bender as head of product development and manufacturing, I am confident that Lion will continue to emerge as a premier immuno-oncology company."

About Lion Biotechnologies

Lion Biotechnologies, Inc. is engaged in the development of T-cells and engineered T-cells for the treatment of various cancers.  The company’s lead product candidate is a ready-to-infuse autologous T-cell therapy utilizing tumor-infiltrating lymphocytes (TILs) for the treatment of patients with Stage IV metastatic melanoma, and is based on a clinical CRADA with the National Cancer Institute along with physician-sponsored investigational therapy at the MD Anderson Cancer Center and the H. Lee Moffitt Cancer & Research Institute. For more information, please visit http://www.lionbio.com.

Forward Looking Statements

This press release contains certain forward-looking statements that are subject to a number of risks and uncertainties, including the risks relating to the Company’s ability to timely file an investigational new drug application, to conduct a Phase 2 clinical trial in metastatic melanoma, and to further successfully develop or commercialize the Company's TILs technologies. Additional risks and uncertainties are described in the Company's most recently filed quarterly report on Form 10-Q and annual report on Form 10-K. Except as permitted by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations
The Trout Group
Tricia Truehart
646-378-2953
ttruehart@troutgroup.com