Llew Keltner, US Biotech Industry Adviser, Joins Board of Immunovaccine
January 20 2014 - 8:07AM
Marketwired
Llew Keltner, US Biotech Industry Adviser, Joins Board of
Immunovaccine
HALIFAX, NOVA SCOTIA--(Marketwired - Jan 20, 2014) -
Immunovaccine Inc. ("Immunovaccine" or "IMV" or "the Company")
(TSX-VENTURE:IMV), a clinical stage vaccine and immunotherapy
company, has elected Llew Keltner, M.D., Ph.D. to its board of
directors. The appointment is effective immediately.
Dr. Keltner, a consultant to IMV since early 2013, has helped to
raise the profile of the company in the US and Europe in the
fast-evolving world of cancer immunotherapy. He also serves as
chairman of Raptor Pharmaceuticals Corp (NASDAQ:RPTP), a $900
million commercial stage biotechnology company based in
California.
Albert Scardino, Executive Chairman, said: "Dr. Keltner shares
our goal, to put effective cancer treatments to work in patients.
Whether advising investment banks, fund managers, large
pharmaceutical companies or clinical stage companies such as ours,
he has proved effective at matching up financial investment with
promising science."
Dr. Keltner said: "Immunovaccine has developed a pivotal piece
in the evolving field of cancer therapy. In early human trials in
ovarian and breast cancer, its unique vaccine technology has shown
an ability to stimulate powerful immune responses that may delay
the recurrence of cancers. In combination with other therapies,
IMV's treatments may help turn cancer into a treatable, long-term
illness. Now that immunotherapy has captured the imagination of
both the scientific and the investment communities, it is important
that we introduce the company to a wider audience."
Until 2013, Dr. Keltner was chief executive of AgonOx, a private
US biotech company working to develop OX40 agonists for use in
cancer therapy. At AgonOx, he engineered a partnership with
Medimmune LLC, the global biologics arm of Astra Zeneca PLC, to
advance the private company's immune system activators.
Dr. Keltner also holds positions on the boards of Infostat,
Oregon Life Sciences, BioQuiddity, and Goodwell Technologies.
EPISTAT, the consulting company he founded in 1972, advises on
international healthcare technology transfer, corporate risk
management and healthcare strategy. He serves on the faculties of
the Medical Schools at Case Western Reserve University and Columbia
University.
In conjunction with this appointment, Dr. Keltner has been
granted 50,000 stock options under Immunovaccine's Stock Option
Plan, exercisable at a price equal to $0.74 per common share. The
options have a term of five years and vest over a period of 18
months.
Immunovaccine expects three trials to be initiated in 2014 with
its cancer immunotherapies. The largest is a randomized Phase II
trial of DPX-Survivac in ovarian cancer being sponsored and
conducted by Canada's NCIC Clinical Trials Group (NCIC CTG). The
trial is expected to begin enrolling the first of its 250 patients
in 2014. Additionally, researchers at the University of Rome have
initiated a Phase l/II trial of DPX-Survivac in glioblastoma (brain
cancer), with the first patients receiving the vaccine in the first
half of this year. A third trial, using DPX-0907 to treat breast
and ovarian cancer, is planned for initiation at Busto Arsizio
Hospital in Milan.
About Ovarian Cancer
Ovarian cancer accounts for more deaths than any other
gynecologic cancer. Symptoms do not occur until it is in the later
stages of the disease, reducing the chance for successful treatment
and remission. It kills more than 100,000 women annually around the
world. Improved surgical techniques have helped to reduce the rate
of recurrence according to some studies, but the average life
expectancy of newly diagnosed ovarian cancer patients is less than
four years.
About Glioblastoma
Glioblastoma, the most common form of brain cancer, is a
fast-growing tumor that develops from astrocytes, a type of glial
cell present in the brain. The National Cancer Institute estimates
that more than 23,000 Americans will be diagnosed with brain and
other nervous system tumors in 2014. Glioblastoma accounts for
approximately 52 percent of all brain tumors. The current standard
of care for glioblastoma patients calls for patients to receive
maximum surgical resection combined with radiation and concomitant
and adjuvant temozolomide therapy. Newly diagnosed glioblastoma
patients have a median overall survival of less than 24 months.
About Immunovaccine
Immunovaccine Inc. develops cancer immunotherapies and
infectious disease vaccines based on the Company's DepoVax™
platform, a patented formulation that provides controlled and
prolonged exposure of antigens and adjuvants to the immune system.
Immunovaccine has advanced two T cell activation therapies for
cancer through Phase I human clinical trials. Lead cancer vaccine
therapy, DPX-Survivac, is expected to enter Phase II clinical
studies in 2014, in ovarian cancer and glioblastoma (brain cancer).
The Company is also advancing an infectious disease pipeline
including innovative vaccines for respiratory syncytial virus (RSV)
and anthrax.
Connect at www.imvaccine.com
This press release contains forward-looking information
under applicable securities law. All information that addresses
activities or developments that we expect to occur in the future,
is forward-looking information. Forward-looking statements are
based on the estimates and opinions of management on the date the
statements are made. However, they should not be regarded as a
representation that any of the plans will be achieved. Actual
results may differ materially from those set forth in this press
release due to risks affecting the company, including access to
capital, the successful completion of clinical trials and receipt
of all regulatory approvals. Immunovaccine Inc. assumes no
responsibility to update forward-looking statements in this press
release except as required by law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Immunovaccine, Inc.Dr. Marc MansourChief Operating Officer(902)
492-1819mmansour@imvaccine.comwww.imvaccine.comVida Strategic
Partners (media)Tim Brons(415) 675-7402tbrons@vidasp.com