David A. Dodd Appointed Chairman of the Board of GeoVax Labs Inc. (GOVX.OB)
ATLANTA, Dec. 6, 2010 /PRNewswire-FirstCall/ -- GeoVax Labs, Inc. (OTC Bulletin Board: GOVX) (the "Company"), an Atlanta-based biopharmaceutical company developing human vaccines for HIV/AIDS (HIV-1, Human Immunodeficiency Virus), has appointed David A. Dodd as Chairman of its Board of Directors effective January 1, 2011. Donald G. Hildebrand is stepping down as Chairman and will remain on the board as a Director and continue to serve as a consultant to the Company.
Mr. Dodd, age 61, has more than 30 years of executive experience in healthcare. He is the founder and Chief Executive Officer of RiversEdge BioVentures LLC, an investment and advisory firm focused on life sciences and pharmaceuticals. Prior to that, he was president, CEO and chairman of BioReliance Corporation, an organization providing biological safety testing, viral clearance testing, genetic and mammalian technology testing and laboratory animal diagnostic services testing. He also served as non-executive chairman of Stem Cell Sciences Plc., where he oversaw the successful development of a strategic growth plan, executive team, operations plan and compliance with investment regulatory authorities, and the sale of the business. Previous to this, he served as president, CEO and director of Serologicals Corporation, where he was responsible for all aspects of corporate performance, operations, strategy and growth. He played an instrumental role in Serological's $1.5 billion acquisition by Millipore Corporation in 2006. This achievement followed Dodd's five-year leadership as president and CEO of Solvay Pharmaceuticals, Inc. and as chairman of its subsidiary Unimed Pharmaceuticals, Inc., for which he was accountable for full P&L responsibility and the growth, development and ongoing success of the US pharmaceutical operations of Solvay S.A.
Mr. Hildebrand said, "I have had the honor of participating in GeoVax's growth from a start-up company through its great growth as a clinical-stage biotechnology company. Throughout my years as co-founder and Chairman of GeoVax, I have truly enjoyed the opportunity to work with the many talented and dedicated individuals who have helped make GeoVax what it is today, including my fellow board members and the GeoVax employees, past and present, who believed in the possibilities of an HIV/AIDS vaccine. However, I am now at a stage in my life where I would like to have more time to devote to other activities. My decision is not the result of any disagreement with or concerns about GeoVax, the Board or company management on any matter. I leave this leadership role with the Company continuing to grow and I have a high level of confidence in the capabilities of CEO Bob McNally and David Dodd, my successor as Chairman. It will be a pleasure to remain with the Company as a contributing Board member and will continue my consulting role with the Company."
Robert T. McNally, PhD, GeoVax's President and CEO, said, "GeoVax is grateful for Don Hildebrand's dedication and hard work, which has laid the foundation for the company's advancement into clinical trials, and we are delighted that he will continue to contribute to GeoVax as a director. David Dodd is a respected leader in the life science business community. The company will benefit from his vast experience and I personally look forward to working with David."
Mr. Dodd said, "I am extremely excited and honored to be selected as the Chairman of the Board of GeoVax. First, I want to acknowledge and thank Don for his leadership since founding GeoVax. Since joining the Board, I have become impressed with and confident in the ability of our team to provide industry-leading technology and developments in the HIV/AIDS vaccine marketplace. The combined backgrounds and experience of the GeoVax team well-positions the Company to achieve its goal of successfully commercializing preventative and therapeutic HIV/AIDS vaccines. To date, GeoVax has consistently achieved highly promising results with the progress of our technologies and products. In my new role, I look forward to working with both the Board and the management team in strengthening our growth and progress as a leading developer in the prevention and treatment of HIV/AIDS and related infectious diseases."
About GeoVax Labs, Inc.
GeoVax is a biotechnology company developing human vaccines for diseases caused by HIV (Human Immunodeficiency Virus that leads to AIDS). Our goals include developing HIV/AIDS vaccines for global markets, overseeing the manufacture and testing these vaccines under GMP/GLP conditions (FDA guidelines), conducting clinical trials for vaccine safety and effectiveness, and obtaining regulatory approvals to move the product forward. All preventative Phase 1 human clinical trials conducted to date were designed to test combinations and dose levels of our DNA and MVA vectored vaccines, their ability to raise anti-HIV humoral (antibody) and cellular (CD4+ helper and CD8+ cytotoxic T cell) immune responses, as well as, the vaccines' safety. Successful results from Phase 1 testing supported the initiation of the first Phase 2 testing. GeoVax's Phase 2 human trial began in January 2009 and will ultimately involve 300 participants at sites in the United States and South America. Recently GeoVax began enrolling patients in a Phase 1 therapeutic trial for individuals already infected with HIV. For more information, please visit www.geovax.com.
Certain statements in this document are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors, including whether: GeoVax can develop and manufacture its vaccines with the desired characteristics in a timely manner, GeoVax's vaccines will be safe for human use, GeoVax's vaccines will effectively prevent AIDS in humans, vaccines will receive regulatory approvals necessary to be licensed and marketed, GeoVax raises required capital to complete vaccine development, there is development of competitive products that may be more effective or easier to use than GeoVax's products, GeoVax will be able to enter into favorable manufacturing and distribution agreements, and other factors, over which GeoVax has no control. GeoVax assumes no obligation to update these forward-looking statements, and does not intend to do so. More information about these factors is contained in GeoVax's filings with the Securities and Exchange Commission including those set forth at "Risk Factors" in GeoVax's Form 10-K.
At The Investor Relations Group:
Janet Vasquez / Robin O'Malley
SOURCE GeoVax Labs, Inc.