HALIFAX, NOVA SCOTIA--(Marketwire -09/12/11)- Immunovaccine Inc. (TSX-V: IMV.V - News), a vaccine development company, announced today the appointment of John J. Trizzino as Chief Executive Officer, effective October 1, 2011. Mr. Trizzino will also be appointed to the board of directors of the Corporation upon joining as Chief Executive Officer.
Mr. Trizzino has focused his career on vaccine development, manufacturing and distribution in the U.S. and worldwide. As a senior executive with more than 25 years of broad industry experience, he has been instrumental in creating joint ventures, licensing agreements and sales to major pharmaceutical companies and government agencies.
He joins Immunovaccine Inc. from Novavax Inc. (NASDAQ: NVAX - News), a clinical-stage vaccine company in Rockville, Maryland, where he served as Senior Vice President. While there, he provided strategic direction and successfully negotiated profitable joint venture and licensing agreements, including a US$179M contract with the U.S. government to produce influenza vaccines.
Prior to joining Novavax Inc., he held senior executive positions at MedImmune Inc., acquired by AstraZeneca, and ID BioMedical Inc., now part of GlaxoSmithKline Inc. He began his broad-based career in vaccines at Henry Schein Inc. In each of these companies, Mr. Trizzino has led commercial marketing efforts and executed a series of successful vaccine development, commercialization and distribution agreements.
"As our development program accelerates with a second cancer vaccine in the clinic, we are pleased to be joined by someone with John's experience in partnering, licensing and distribution," said Albert Scardino, Chairman of Immunovaccine Inc.
"The next phase of our development includes expanding the commercial potential of our early stage research partnerships. That is John's specialty. He knows the public markets, private financing and government contracting, and with his broad experience in the biotechnology industry, we anticipate a high level of visibility for our pioneering delivery platform and our vaccines," continued Scardino.
Mr. Trizzino said: "Immunovaccine's technology has the potential to offer significant advances in the world of vaccines. To lead the Company, as its human trials accelerate, is both an opportunity and a challenge. With strong business fundamentals, a broad intellectual property portfolio and a talented and committed scientific team, Immunovaccine has the building blocks in place. My goal is to focus on the therapeutic areas with the strongest growth potential and to expand the Company's relationships within the global pharmaceutical and biotechnology industry."
A native of New York City, Mr. Trizzino is a graduate of Long Island University and received his master's degree in business administration from New York University's Stern School of Business.
Immunovaccine Inc. develops vaccines formulated in its vaccine delivery platform for cancer therapy and for the prevention of infectious disease. The Company's DepoVaxTM platform is a patented lipid delivery system that presents antigens plus adjuvant to the immune system for a prolonged period and has the potential to enhance immune responses. In addition to its own clinical trials, the Company is capitalizing on the broad potential of its delivery platform by creating new DepoVax-based vaccines through strategic partnerships. Pfizer Animal Health has also licensed the Company's delivery platform to develop vaccines for livestock.
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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.
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