NEW YORK, Oct. 14, 2021 /PRNewswire/ -- Immunic,
Inc. (Nasdaq: IMUX), a clinical-stage
biopharmaceutical company developing a pipeline of selective oral
immunology therapies focused on treating chronic inflammatory and
autoimmune diseases, announced the appointment of Patrick Walsh as Chief Business Officer,
effective today. In this newly created role, Mr. Walsh will be
responsible for business development, including strategic
partnering opportunities, and will become part of the executive
management team of Immunic.
"Patrick is a seasoned business development executive who has
spent his career helping to successfully build a number of public
biopharmaceutical companies. He brings to Immunic extensive
leadership in building companies through strategic partnerships and
non-dilutive funding," stated Daniel
Vitt, Ph.D., Chief Executive Officer and President of
Immunic. "I am pleased to welcome Patrick to our executive team and
look forward to leveraging his experience as we work to realize the
full potential of our clinical programs."
Mr. Walsh joins Immunic from Akebia Therapeutics, Inc., where he
served as Vice President of Business Development and completed an
array of strategic transactions, including multiple partnerships,
in-licenses, non-dilutive financings, and a merger. Mr. Walsh was
previously in Corporate Development at AVEO Oncology, during which
time he worked on all aspects of business development. Earlier in
his career, he was a consultant to life science companies with
Capgemini SE and was on the healthcare investment banking team at
Leerink Partners (now SVB Leerink).
Mr. Walsh holds both an M.S. in molecular, cellular and
developmental biology and an MBA from the University of Michigan and a B.A. in biology and
economics from Colby College.
"I am thrilled to be part of Immunic's very talented team," said
Mr. Walsh. "I hope to leverage my experience to advance the
development and commercial potential of the company's extraordinary
wealth of assets, including three clinical-stage candidates and
several promising preclinical compounds, to reinforce our mission
to bring innovative, safe and easy-to-use treatment options to
patients in need."
About Immunic, Inc.
Immunic, Inc. (Nasdaq: IMUX) is a
clinical-stage biopharmaceutical company with a pipeline of
selective oral immunology therapies focused on treating chronic
inflammatory and autoimmune diseases. The company is developing
three small molecule products: its lead development program,
IMU-838, a selective immune modulator that inhibits the
intracellular metabolism of activated immune cells by blocking the
enzyme DHODH and exhibits a host-based antiviral effect, is
currently being developed as a treatment option for multiple
sclerosis, ulcerative colitis, Crohn's disease, and primary
sclerosing cholangitis. IMU-935, a selective inverse agonist of the
transcription factor RORγt, is targeted for development in
psoriasis, castration-resistant prostate cancer and Guillain-Barré
syndrome. IMU-856, which targets the restoration of the intestinal
barrier function, is targeted for development in diseases involving
bowel barrier dysfunction. For further information, please visit:
www.imux.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking
statements" that involve substantial risks and uncertainties for
purposes of the safe harbor provided by the Private Securities
Litigation Reform Act of 1995. All statements, other than
statements of historical facts, included in this press release
regarding strategy, future operations, future financial position,
future revenue, projected expenses, prospects, plans and objectives
of management are forward-looking statements. Examples of such
statements include, but are not limited to, statements relating to
Immunic's three development programs and the targeted diseases; the
potential for Immunic's development programs to safely and
effectively target diseases; the nature, strategy and focus of the
company and further updates with respect thereto; the development
and commercial potential of any product candidates of the company;
expectations regarding the capitalization, resources and ownership
structure of the company; and the executive and board structure of
the company. Immunic may not actually achieve the plans, carry out
the intentions or meet the expectations or projections disclosed in
the forward-looking statements and you should not place undue
reliance on these forward-looking statements. Such statements are
based on management's current expectations and involve risks and
uncertainties. Actual results and performance could differ
materially from those projected in the forward-looking statements
as a result of many factors, including, without limitation, the
COVID-19 pandemic, risks and uncertainties associated with the
ability to project future cash utilization and reserves needed for
contingent future liabilities and business operations, the
availability of sufficient resources to meet business objectives
and operational requirements, the fact that the results of earlier
studies and trials may not be predictive of future clinical trial
results, the protection and market exclusivity provided by
Immunic's intellectual property, risks related to the drug
development and the regulatory approval process and the impact of
competitive products and technological changes. A further list and
descriptions of these risks, uncertainties and other factors can be
found in the section captioned "Risk Factors," in the company's
Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the SEC on
February 26, 2021, and in the
company's subsequent filings with the Securities and Exchange
Commission. Copies of these filings are available online at
www.sec.gov or ir.imux.com/sec-filings. Any forward-looking
statement made in this release speaks only as of the date of this
release. Immunic disclaims any intent or obligation to update these
forward-looking statements to reflect events or circumstances that
exist after the date on which they were made. Immunic expressly
disclaims all liability in respect to actions taken or not taken
based on any or all the contents of this press release.
Contact Information
Immunic, Inc.
Jessica Breu
Head of Investor Relations and Communications
+49 89 2080 477 09
jessica.breu@imux.com
US IR Contact
Rx Communications Group
Paula Schwartz
+1 917 322 2216
immunic@rxir.com
US Media Contact
KOGS Communication
Edna Kaplan
+1 781 639 1910
kaplan@kogspr.com
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SOURCE Immunic, Inc.