VBL Therapeutics Appoints Marc Kozin as Chairman of its Board of Directors
July 22 2021 - 7:00AM
VBL Therapeutics (Nasdaq: VBLT) today announced the planned
elevation of Marc Kozin as chairman of the company’s board of
directors. Bennett Shapiro, M.D., has stepped down from his
chairman role but remains on VBL’s board. The succession plan was
announced in October 2020 when Mr. Kozin joined the board as vice
chairman.
“VBL has made great strides in advancing its
lead asset, VB-111, in development for treatment of
platinum-resistant ovarian cancer and other oncology indications,”
said Mr. Kozin. “As the OVAL study nears completion with
progression-free survival results expected in 2022, I am excited to
lead the board toward the next phase of the company’s growth. I
want to personally thank Ben for his leadership in the chairman
role and for his continuing contributions to VBL."
About the OVAL Study
(NCT03398655)OVAL
is an international, phase 3, randomized, pivotal
registration-enabling clinical trial comparing a combination of
VB-111 and paclitaxel to placebo plus paclitaxel, in patients with
platinum resistant ovarian cancer. The study is planned to enroll
approximately 400 patients. OVAL is conducted in collaboration with
the GOG Foundation, Inc., an independent international
non-profit organization with the purpose of promoting excellence in
the field of gynecologic malignancies.
About VB-111 (ofranergene obadenovec;
`ofra-vec`)VB-111 (`ofra-vec`) is an
investigational anti-cancer gene-therapy agent that is being
developed to treat a wide range of solid tumors. VB-111 is a unique
biologic agent that is designed to use a dual mechanism to target
solid tumors. Its mechanism combines blockade of tumor vasculature
with an anti-tumor immune response. VB-111 is administered as an IV
infusion once every 6-8 weeks. It has been observed to be
well-tolerated in >300 cancer patients and demonstrated activity
signals in an “all comers” Phase 1 trial as well as in three
tumor-specific Phase 2 studies. VB-111 has received an Orphan
Designation for the treatment of ovarian cancer from
the European Commission. VB-111 has also received orphan drug
designation in both the US and Europe, and fast track
designation in the US, for prolongation of survival in patients
with recurrent glioblastoma. VB-111 demonstrated proof-of-concept
and survival benefit in Phase 2 clinical trials in
radioiodine-refractory thyroid cancer and recurrent
platinum-resistant ovarian cancer (NCT01711970).
About VBL TherapeuticsVascular Biogenics Ltd.,
operating as VBL Therapeutics, is a publicly traded (Nasdaq: VBLT),
clinical stage biopharmaceutical company focused on the discovery,
development and commercialization of first-in-class treatments for
areas of unmet need in cancer and immune- or inflammatory-related
indications. The VBL Therapeutics pipeline has been developed
utilizing the company’s three proprietary platform technologies: a
gene therapy-based platform technology targeting newly formed blood
vessels, an antibody-based technology platform targeting MOSPD2
(motile sperm domain containing 2) and a lecinoxoids platform
comprised of a family of small-molecules. The company’s lead
oncology candidate, VB-111 (ofranergene obadenovec; `ofra-vec`), is
an investigational, first-in-class, targeted anti-cancer
gene-therapy agent in development to treat a wide range of solid
tumors. VB-111 is currently being studied in a phase 3 potential
registration trial for platinum-resistant ovarian cancer.
Forward Looking StatementsThis press release
contains forward-looking statements. All statements other than
statements of historical fact are forward-looking statements, which
are often indicated by terms such as “anticipate,” “believe,”
“could,” “estimate,” “expect,” “goal,” “intend,” “look forward to,”
“may,” “plan,” “potential,” “predict,” “project,” “should,” “will,”
“would” and similar expressions. These forward-looking statements
may include, but are not limited to, statements regarding the
timing of expected results from the OVAL study, and enrollment in
the OVAL study, and other statements regarding VB-111. These
forward-looking statements are not promises or guarantees and
involve substantial risks and uncertainties. Among the factors that
could cause actual results to differ materially from those
described or projected herein include uncertainties associated
generally with research and development, clinical trials and
related regulatory reviews and approvals, the risk that historical
clinical trial results may not be predictive of future trial
results, that financial resources do not last for as long as
anticipated, and that VBL Therapeutics may not realize
the expected benefits of its intellectual property protection. In
particular, the addition of progression free survival as a primary
endpoint in the OVAL trial is not assurance that the trial will
meet either of its primary endpoints, that it will do so within any
particular timeframe, or that VBL Therapeutics will
obtain positive results to support further development of this
candidate. A further list and description of these risks,
uncertainties and other risks can be found in VBL Therapeutics’
regulatory filings with the U.S. Securities and Exchange
Commission, including in its annual report on Form 20-F for the
year ended December 31, 2020, and subsequent filings with
the SEC. Existing and prospective investors are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of the date hereof. VBL Therapeutics undertakes
no obligation to update or revise the information contained in this
press release, whether as a result of new information, future
events or circumstances or otherwise.
CONTACT:Burns McClellan for VBL
TherapeuticsLee Roth (investors) / Ryo Imai
(media)lroth@burnsmc.com / rimai@burnsmc.com +1-212-213-0006
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