IMUNON Announces Leadership Change
March 12 2024 - 5:00PM
IMUNON, Inc. (NASDAQ:
IMNN), a clinical-stage drug-development company focused
on developing non-viral DNA-mediated immunotherapy and
next-generation vaccines, announces that Dr. Corinne Le Goff,
Pharm.D. has resigned as President and Chief Executive Officer, and
from the Board of Directors, to pursue another business
opportunity. Dr. Le Goff’s resignation will be effective as of
March 15, 2024. Michael H. Tardugno, the Company’s Executive
Chairman, and Chief Executive Officer prior to Dr. Le Goff, will
assume day-to-day leadership until a successor is named and will
continue in his role directing Company strategy.
“IMUNON has the bench strength more than
sufficient to advance our two platform technologies with many
dedicated senior executives and scientists to execute our strategic
plan,” noted Mr. Tardugno. “Our development strategy and timetables
remain unchanged, with two key milestones expected in the near
term. We remain on track with preparations to begin a Phase 1 study
with IMNN-101, which utilizes our PlaCCine technology, to generate
human proof-of-concept data in a seasonal COVID-19 booster vaccine.
We look forward to reporting topline data this summer from the
OVATION 2 Study with IMNN-001 in advanced ovarian cancer.
“We wish Corinne well in her future endeavors
and appreciate her contributions to the company. Meanwhile, an
active search is underway for a new CEO,” said Mr. Tardugno.
IMUNON plans to report fourth quarter and full
year 2023 financial results and hold an investment community
conference call on March 28, 2024, during which management will
provide a corporate update and answer questions. Additional
information regarding the conference call will be announced in the
coming days.
About IMUNON
IMUNON is a fully integrated, clinical-stage
biotechnology company focused on advancing a portfolio of
innovative treatments that harness the body’s natural mechanisms to
generate safe, effective and durable responses across a broad array
of human diseases, constituting a differentiating approach from
conventional therapies. IMUNON is developing its non-viral DNA
technology across four modalities. The first modality, TheraPlas®,
is developed for the coding of proteins and cytokines in the
treatment of solid tumors where an immunological approach is deemed
promising. The second modality, PlaCCine®, is developed for the
coding of viral antigens that can elicit a strong immunological
response. This technology may represent a promising platform for
the development of vaccines in infectious diseases. The third
modality, FixPlas®, concerns the application of our DNA technology
to produce universal cancer vaccines, also called tumor associated
antigen cancer vaccines. The fourth modality, IndiPlas®, is in the
discovery phase and will focus on the development of personalized
cancer vaccines, or neoepitope cancer vaccines.
The Company’s lead clinical program, IMNN-001,
is a DNA-based immunotherapy for the localized treatment of newly
diagnosed advanced ovarian cancer currently in Phase 2 development.
IMNN-001 works by instructing the body to produce safe and durable
levels of powerful cancer-fighting molecules, such as
interleukin-12 and interferon gamma, at the tumor site.
Additionally, the Company is conducting IND-enabling preclinical
studies for the development of a COVID-19 booster vaccine
(IMNN-101) and a treatment for the LASSA virus (IMNN-102). The
Company has also initiated preclinical work to develop a Trp2 tumor
associated antigen cancer vaccine in melanoma (IMNN-201). We will
continue to leverage these modalities and to advance the
technological frontier of plasmid DNA to better serve patients with
difficult-to-treat conditions. For more information on IMUNON,
visit www.imunon.com.
Forward-Looking Statements
IMUNON wishes to inform readers that
forward-looking statements in this news release are made pursuant
to the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995. All statements, other than
statements of historical fact, including, but not limited to,
statements regarding the Company’s transition process with respect
to its Chief Executive Officer and the Company’s plans and
expectations with respect to its development programs, are
forward-looking statements. We generally identify forward-looking
statements by using words such as “may,” “will,” “expect,” “plan,”
“anticipate,” “estimate,” “intend” and similar expressions (as well
as other words or expressions referencing future events, conditions
or circumstances). Readers are cautioned that such forward-looking
statements involve risks and uncertainties including, without
limitation, uncertainties relating to transitions in the Company’s
management; unforeseen changes in the course of research and
development activities and in clinical trials; the uncertainties of
and difficulties in analyzing interim clinical data; the
significant expense, time and risk of failure of conducting
clinical trials; the need for IMUNON to evaluate its future
development plans; possible acquisitions or licenses of other
technologies, assets or businesses; possible actions by customers,
suppliers, competitors or regulatory authorities; and other risks
detailed from time to time in IMUNON’s filings with the Securities
and Exchange Commission. IMUNON assumes no obligation, except to
the extent required by law, to update or supplement forward-looking
statements that become untrue because of subsequent events, new
information or otherwise.
Contacts:
IMUNON |
LHA Investor Relations |
Jeffrey W. Church |
Kim Sutton Golodetz |
Executive Vice President, CFO |
212-838-3777 |
and Corporate Secretary |
Kgolodetz@lhai.com |
609-482-2455 |
|
jchurch@imunon.com |
|
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