GAITHERSBURG, Md., Oct. 20, 2014 /PRNewswire/ -- GenVec, Inc. (NASDAQ: GNVC) today announced the retirement of Zola P. Horovitz, Ph.D., from its board of directors effective on October 24, 2014. Dr. Horovitz joined the GenVec board in August 2003, and served as its chairman from June 2006 to November 2013. During his tenure, he also served on the Nominating and Corporate Governance and Audit Committees of the board.
"We deeply thank Zola for more than a decade of dedicated service to GenVec, and its stockholders," said Wayne T. Hockmeyer, Ph.D., Chairman of GenVec's Board of Directors.
"Zola brought his substantial experience and strategic expertise to the table, which were key in navigating our recent strategic reorganization. He leaves the company strengthened, and in position to further execute on our plan to maximize the value of our technology platform," commented Douglas J. Swirsky, GenVec's President and CEO.
GenVec is a biopharmaceutical company working with leading companies and organizations such as Novartis and the U.S. Government to leverage GenVec's proprietary gene-delivery technologies to address the prevention and treatment of significant health concerns. The company also licenses its proprietary technology platform, including vectors and production cell lines, for the development and manufacture of therapeutics and vaccines to the biopharmaceutical industry. GenVec's lead program, in the field of regenerative medicine, is licensed to Novartis for the development of novel treatments for hearing loss and balance disorders. Additional information about GenVec is available at www.genvec.com and in the company's various filings with the Securities and Exchange Commission.
Statements herein relating to future financial or business performance, conditions or strategies and other financial and business matters, including with respect to the transition of GenVec's business focus are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. GenVec cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, such as the failure of Novartis to advance GenVec's hearing loss and balance disorders program. Further information on the factors and risks that could affect GenVec's business, financial conditions and results of operations, are contained in GenVec's filings with the U.S. Securities and Exchange Commission (SEC), which are available at www.sec.gov. These forward-looking statements speak only as of the date of this press release, and GenVec assumes no duty to update forward-looking statements.
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SOURCE GenVec, Inc.