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Posted On: 01/26/2022 7:54:34 AM
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Proactive Article: CytoDyn on the hunt for a new CEO as it unveils changes in leadership team
With effect from January 24, the company said it has terminated the employment of Dr Nader Z. Pourhassan as its CEO and president and added he is no longer a member of the board
CytoDyn Inc, the biotech focused on the development and commercialization of leronlimab, has reported that it is on the hunt for a new CEO as it unveiled a leadership transition plan.
With effect from January 24 this year, the company said it has terminated the employment of Dr Nader Z. Pourhassan as *its CEO and president and added that he is no longer a member of the board.
Antonio Migliarese, currently CytoDyn's finance chief, has been appointed interim president. He will also continue as CFO.
"Now is the right time for the next phase of CytoDyn’s evolution, as we focus on continuing the clinical progress of leronlimab and ultimately securing regulatory approval and commercialization," said Scott A. Kelly, the chairman and chief medical officer at CytoDyn in a statement.
A commitee of three board members has been appointed to search for a new permanent CEO.
READ: CytoDyn Inc published paper shows leronlimab activity against 4-class drug resistant HIV-1
"Our board is fully focused on identifying the best possible candidate to lead the Company forward, and we are focusing our search on finding an individual with the appropriate experience and skillsets to maximize the potential of leronlimab for patients, partners, and shareholders," Kelly added.
"In addition, in an effort to enhance the board’s independence, I have elected to step down as chairman of the board but will remain on the board of directors. The board has elected Tanya Durkee Urbach, an independent director who has experience in corporate governance, corporate finance, business growth and securities litigation, compliance and regulatory issues, as chairman of the board.
"We thank Dr. Pourhassan for his vision and passion for developing leronlimab into a platform molecule with the potential for multiple therapeutic indications," Kelly concluded.
CytoDyn is a Vancouver, Washington-based late-stage biotechnology company that is developing Vyrologix (leronlimab or PRO 140) to battle multiple diseases. It has been granted Fast Track designation by the US Food & Drug Administration (FDA) for the treatment of HIV in combination with the cocktail known as highly active antiretroviral therapy (HAART) and for metastatic triple-negative breast cancer.
CytoDyn is also exploring Vyrologix's use in the treatment of cancer, inflammatory conditions, autoimmune diseases and even the coronavirus (COVID-19).
LINK
With effect from January 24, the company said it has terminated the employment of Dr Nader Z. Pourhassan as its CEO and president and added he is no longer a member of the board
CytoDyn Inc, the biotech focused on the development and commercialization of leronlimab, has reported that it is on the hunt for a new CEO as it unveiled a leadership transition plan.
With effect from January 24 this year, the company said it has terminated the employment of Dr Nader Z. Pourhassan as *its CEO and president and added that he is no longer a member of the board.
Antonio Migliarese, currently CytoDyn's finance chief, has been appointed interim president. He will also continue as CFO.
"Now is the right time for the next phase of CytoDyn’s evolution, as we focus on continuing the clinical progress of leronlimab and ultimately securing regulatory approval and commercialization," said Scott A. Kelly, the chairman and chief medical officer at CytoDyn in a statement.
A commitee of three board members has been appointed to search for a new permanent CEO.
READ: CytoDyn Inc published paper shows leronlimab activity against 4-class drug resistant HIV-1
"Our board is fully focused on identifying the best possible candidate to lead the Company forward, and we are focusing our search on finding an individual with the appropriate experience and skillsets to maximize the potential of leronlimab for patients, partners, and shareholders," Kelly added.
"In addition, in an effort to enhance the board’s independence, I have elected to step down as chairman of the board but will remain on the board of directors. The board has elected Tanya Durkee Urbach, an independent director who has experience in corporate governance, corporate finance, business growth and securities litigation, compliance and regulatory issues, as chairman of the board.
"We thank Dr. Pourhassan for his vision and passion for developing leronlimab into a platform molecule with the potential for multiple therapeutic indications," Kelly concluded.
CytoDyn is a Vancouver, Washington-based late-stage biotechnology company that is developing Vyrologix (leronlimab or PRO 140) to battle multiple diseases. It has been granted Fast Track designation by the US Food & Drug Administration (FDA) for the treatment of HIV in combination with the cocktail known as highly active antiretroviral therapy (HAART) and for metastatic triple-negative breast cancer.
CytoDyn is also exploring Vyrologix's use in the treatment of cancer, inflammatory conditions, autoimmune diseases and even the coronavirus (COVID-19).
LINK
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