PDS Biotechnology Appoints Seasoned Business Development Executive Sanjay Zaveri as Senior Vice President, Business Development
May 18 2022 - 8:00AM
PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage
immunotherapy company developing a growing pipeline of molecularly
targeted cancer immunotherapies and infectious disease vaccines
based on the Company’s proprietary Versamune® and Infectimune™
T-cell activating technologies, today announced that Sanjay Zaveri
has joined PDS Biotech as Senior Vice President, Business
Development. Mr. Zaveri has extensive partnering experience having
completed licenses and acquisitions between leading biotechnology
and pharmaceutical companies. As PDS Biotech’s Senior Vice
President of Business Development, he is responsible for business
strategy, and managing the Company’s potential licensing and
partnering opportunities in support of PDS Biotech’s pipeline.
Prior to joining PDS Biotech he held the position of Head of
Business Development and Corporate Strategy at Strongbridge
Biopharma, leading their business development, licensing and
partnership strategy prior to its acquisition by Xeris
Pharmaceuticals. Before Strongbridge, he held biotechnology
consulting positions with Guidehouse, formerly Navigant Consulting,
and IQVIA. Mr. Zaveri holds a Bachelor of Science in Pharmacy from
Massachusetts College of Pharmacy and a Master of Business
Administration from the University of Minnesota, Carlson School of
Management.
“We are pleased to have Sanjay join the PDS
Biotech management team. He brings a great depth of experience
successfully conducting business development in the life science
industry,” said PDS Biotech Chief Executive Officer, Frank
Bedu-Addo. “As we demonstrate proof-of-concept for PDS0101 and our
Versamune® and Infectimune™ platforms, Sanjay’s proven ability to
execute a sound business development strategy will be an asset to
PDS Biotech.”
Additionally, PDS Biotech granted Mr. Zaveri
nonstatutory stock options to purchase 150,000 shares of PDS’s
common stock as a material inducement to his employment with PDS
Biotech in accordance with Nasdaq Listing Rule 5635(c)(4) and PDS
Biotech’s 2019 Inducement Plan, as amended. PDS Biotech’s 2019
Inducement Plan, as amended, provides for the granting of equity
awards to new employees of PDS Biotech. The stock option award has
an exercise price of $5.35, the closing price of PDS Biotech’s
common stock on May 17, 2022. The option award vests over a
four-year period, with one-quarter of the shares vesting on the
first anniversary of the grant date (May 17, 2023) and then monthly
over the following 36 months, subject to continued employment with
the company through the applicable vesting dates.About PDS
BiotechnologyPDS Biotech is a clinical-stage immunotherapy
company developing a growing pipeline of molecularly targeted
cancer and infectious disease immunotherapies based on the
Company’s proprietary Versamune® and Infectimune™ T-cell activating
technology platforms. Our Versamune®-based products have
demonstrated the potential to overcome the limitations of current
immunotherapy by inducing in vivo, large quantities of
high-quality, highly potent polyfunctional tumor specific CD4+
helper and CD8+ killer T-cells. PDS Biotech has developed multiple
therapies, based on combinations of Versamune® and disease-specific
antigens, designed to train the immune system to better recognize
diseased cells and effectively attack and destroy them. The
Company’s pipeline products address various cancers including
HPV16-associated cancers (anal, cervical, head and neck, penile,
vaginal, vulvar) and breast, colon, lung, prostate and ovarian
cancers.
Our Infectimune™ -based vaccines have
demonstrated the potential to induce not only robust and durable
neutralizing antibody responses, but also powerful T-cell responses
including long-lasting memory T-cell responses. To learn more,
please visit www.pdsbiotech.com or follow us on Twitter at
@PDSBiotech.
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,” “forecast,” “guidance”,
“outlook” and other similar expressions among others.
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; the
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 Company’s
dependence on additional financing to fund its operations and
complete the development and commercialization of its product
candidates, and the risks that raising such additional capital may
restrict the Company’s operations or require the Company to
relinquish rights to the Company’s technologies or product
candidates; the Company’s limited operating history in the
Company’s current line of business, which makes it difficult to
evaluate the Company’s prospects, the Company’s business plan or
the likelihood of the Company’s successful implementation of such
business plan; the timing for the Company or its partners to
initiate the planned clinical trials for PDS0101, PDS0203 and other
Versamune® and Infectimune™-based product candidates; 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, PDS0203 and
other Versamune® and Infectimune™-based product candidates 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 success, timing and cost of the Company’s ongoing clinical
trials and anticipated clinical trials for the Company’s current
product candidates, including statements regarding the timing of
initiation, pace of enrollment and completion of the trials
(including the Company’s ability to fully fund its disclosed
clinical trials, which assumes no material changes to our currently
projected expenses), futility analyses, presentations at
conferences and data reported in an abstract, and receipt of
interim results (including, without limitation, any preclinical
results or data), which are not necessarily indicative of the final
results of the Company’s ongoing clinical trials; any Company
statements about its understanding of product candidates mechanisms
of action and interpretation of preclinical and early clinical
results from its clinical development programs and any
collaboration studies; 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.
Versamune® is a registered trademark and
Infectimune™ is a trademark of PDS Biotechnology.
Investor Contact:Rich
CockrellCG CapitalPhone: +1 (404) 736-3838 Email:
rich@cg.capital
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