NEW YORK and HERZLIYA-PITUACH, Israel, July 14, 2014 (GLOBE NEWSWIRE) -- Immune Pharmaceuticals Inc. (OTCQX:IMNP) (Nasdaq: IMNP ) ("Immune" or "the Company") appointed Dr. Cameron Durrant as new independent director. Dr. Durant becomes a Member of the Compensation Committee and the R&D Committee.
Dr. Durrant, commented: "I am excited to join Immune's board at this critical stage in the evolution of the company. I believe Immune has promising programs in key therapeutic areas with high unmet need, such as immunology and oncology. Further, I believe that the focus on certain orphan conditions and the prospect of a more personalized approach underscores the potential for Immune."
Dr. Durrant is an accomplished biotech entrepreneur, marketer, financier, and a business and corporate development professional with a strong medical base as an MD. He has served as board chairman and director and operated as CEO or interim CEO, as well as CFO, for both private and public companies. Most recently, Dr. Durrant served as a corporate officer of Hi-Tech Pharmacal (recently sold to Akorn) and CEO of the ECR division (subsequently divested by Akorn to Valeant). He has been a senior executive at Johnson and Johnson as Worldwide Vice President, and previously as Vice President Pharmacia Corporation (until its acquisition by Pfizer). Dr. Durrant started his career at Merck and then at GSK. He has served as the founding investor, Chairman, CEO and CFO of publicly-traded PediatRx, Executive Chairman of publicly-traded Anavex, CEO of PediaMed Pharmaceuticals, a founding director of Bexion Pharmaceuticals, a board member of Topaz Pharmaceuticals (acquired by sanofi-aventis), a board member of Alcyone Life Sciences and ReliefBand Technologies. Dr. Durrant has been an advisor to Microsoft Corporation, Prism Pharmaceuticals (acquired by Baxter), Pilgrim Software (acquired by a private equity group), Aprecia Pharmaceuticals and Saxa Private Equity Partners. He has also been involved in creating companies around targeted early-stage technologies with Cincinnati Children's Hospital and assisted numerous private equity groups in their diligence efforts. Dr. Durrant earned his medical degree from the Welsh National School of Medicine, Cardiff, UK, his DRCOG from the Royal College of Obstetricians and Gynecologists, London, UK, his MRCGP from the Royal College of General Practitioners, London, UK, and his DipCH from the Melbourne Academy, Australia and his Master of Business Administration from Henley Management College, Oxford, UK.
Dr. Daniel Teper, Immune's Chairman and CEO, commented: "I have been privileged to work with Cameron in several of his leadership roles at GSK, Pharmacia, J&J and PediaMed. His entrepreneurial drive along with the discipline acquired at leading companies and his extensive board experience at public and private companies will be a strong asset as Immune expands its clinical development and commercialization activities."
About Immune Pharmaceuticals Inc.
Immune Pharmaceuticals Inc. applies a personalized approach to treatment, developing novel, highly targeted antibody therapeutics to improve the lives of patients with inflammatory diseases and cancer. The Company's lead product candidate, bertilimumab, is in clinical development for moderate to severe ulcerative colitis and Crohn's Disease as well as bullous pemphigoid, an orphan auto-immune dermatological condition. Immune licensed worldwide rights for systemic indications of bertilimumab from iCo Therapeutics (TSX-V: ICO ) (OTCQX:ICOTF) in June 2011, while iCo retained rights to all ophthalmic indications. iCo originally licensed the exclusive world-wide rights to bertilimumab in 2006 from MedImmune, the Global Research and Development arm of Astra-Zeneca. Immune's pipeline also includes NanomAbs®, a portfolio of antibody nanoparticle conjugates, for the targeted delivery of chemotherapeutics, crolibulin, a small molecule in Phase II for (indication) in collaboration with the National Cancer Institute and Amiket™, a Phase III-ready neuropathic pain candidate. Amiket has received Orphan Drug Designation for Post-Herpetic Neuralgia in the US.
For more information, please visit Immune's website at www.immunepharmaceuticals.com , the content of which is not a part of this press release.
Erik Penser Bankaktiebolag is engaged as Immune's Certified Adviser on NASDAQ OMX First North Premier.
Forward-Looking Statements
This news release and any oral statements made with respect to the information contained in this news release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are urged to consider statements that include the words "may," "will," "would," "could," "should," "believes," "estimates," "projects," "potential," "expects," "plans," "anticipates," "intends," "continues," "forecast," "designed," "goal" or the negative of those words or other comparable words to be uncertain and forward-looking. Such forward-looking statements include statements that express plans, anticipation, intent, contingency, goals, targets, future development and are otherwise not statements of historical fact. These statements are based on our current expectations and are subject to risks and uncertainties that could cause actual results or developments to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Factors that may cause actual results or developments to differ materially include, but not limited to: the risks associated with the adequacy of our existing cash resources and our ability to continue as a going concern; the risks associated with our ability to continue to meet our obligations under our existing debt agreements; the risk that we will not be able to find a partner to help conduct the Phase III trials for AmiKet on attractive terms, a timely basis or at all the risk that we will not obtain approval to market and commercialize any of our product candidates; the risks associated with dependence upon key personnel; the risks associated with reliance on collaborative partners and others for further clinical trials, development, manufacturing and commercialization of our product candidates; the cost, delays and uncertainties associated with our scientific research, product development, clinical trials and regulatory approval process; our history of operating losses since our inception; the highly competitive nature of our business; risks associated with litigation; risks associated with our ability to protect our intellectual property; risks associate with our ability to raise additional funds; and our liquidity. These factors and other material risks are more fully discussed in our periodic reports, including our reports on Forms 8-K, 10-Q and 10-K and other filings with the U.S. Securities and Exchange Commission. You are urged to carefully review and consider the disclosures found in our filings which are available at www.sec.gov or at www.immunepharmaceuticals.com . You are cautioned not to place undue reliance on any forward-looking statements, any of which could turn out to be wrong due to inaccurate assumptions, unknown risks or uncertainties or other risk factors. We expressly disclaim any obligation to publicly update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.
Immune Pharmaceuticals Inc.: 708 Third Avenue, Suite 210 New York, NY 10017 Anna Baran, Senior Director of Investor Relations and Corporate Communications Tel: (646) 937-1941 Immune Pharmaceuticals Ltd.: 11C Galgale HaPlada Herzliya-Pituach, Israel 46733
