Immunic, Inc. Expands Board of Directors with Appointment of Biotechnology Executive Barclay A. Phillips
NEW YORK, November 19, 2019 - Immunic, Inc. (Nasdaq: IMUX), a clinical-stage biopharmaceutical company focused on developing best-in-class, oral therapies for the treatment of chronic inflammatory and autoimmune diseases, today announced the appointment of Barclay "Buck" A. Phillips, an established life sciences executive, investor and entrepreneur, to its Board of Directors, effective November 14, 2019. With this addition, Immunic's Board will total seven members.
"Buck's decades of relevant experience in the biotechnology sector, both as a Chief Financial Officer and investor, will add a unique perspective to our Board," stated Duane Nash, M.D., J.D., M.B.A., Chairman of the Board of Directors of Immunic. "We look forward to leveraging his significant expertise in the areas of financing strategy, capital markets, business development, and others, which he has garnered during his successful career as an executive and board member for multiple, Nasdaq-listed life science companies. Buck's addition to our team reflects our desire to build the Board during a time of continued clinical progress and we look forward to his contributions."
Until recently, Mr. Phillips was Chief Financial Officer and Senior Vice President of Corporate Development at G1 Therapeutics, Inc., where, among other achievements, he was instrumental in raising over USD 300 million in multiple equity financings. Before that, he served as Senior Vice President, Chief Financial Officer and Treasurer of vaccine company, Novavax, Inc., where he helped to raise more than USD 850 million in various financings to support the company's late-stage clinical programs. Prior, Mr. Phillips was Senior Vice President and Chief Financial Officer of Micromet, Inc., which, during his tenure, was acquired by Amgen Inc. for approximately USD 1.2 billion. Mr. Phillips's exposure to venture capital came earlier, while serving as a Managing Director at Vector Fund Management, focused on investments in late-stage life sciences companies, and during his time as Biotechnology Analyst and Director of Venture Investments at Invesco, where he held primary coverage responsibility for the universe of publicly traded biotechnology companies, while managing the firm's private equity investing, with a focus on life sciences.
Mr. Phillips has served on the boards of over a dozen public and private life sciences companies. He earned a Bachelor of Arts in economics from the University of Colorado at Boulder.
About Immunic, Inc.
Immunic, Inc. (Nasdaq: IMUX) is a clinical-stage biopharmaceutical company developing a pipeline of selective oral immunology therapies aimed at treating chronic inflammatory and autoimmune diseases, including relapsing-remitting multiple sclerosis, ulcerative colitis, Crohn's disease, and psoriasis. The company is developing three small molecule products: IMU-838 is a selective immune modulator that inhibits the intracellular metabolism of activated immune cells by blocking the enzyme DHODH; IMU-935 is an inverse agonist of RORγt; and IMU-856 targets the restoration of the intestinal barrier function. Immunic's lead development program, IMU-838, is in phase 2 clinical development for relapsing-remitting multiple sclerosis and ulcerative colitis, with an additional phase 2 trial planned in Crohn's disease. An investigator-sponsored proof-of-concept clinical trial for IMU-838 in primary sclerosing cholangitis is ongoing at the Mayo Clinic. For further information, please visit: www.immunic-therapeutics.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 clinical and preclinical pipeline activities and the structure and composition of its board. 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, 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 "Item 1A. Risk Factors," in the company's Current Report on Form 8-K filed on July 17, 2019, 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.immunic-therapeutics.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.
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