Larry Ellberger, Former Senior Executive of Powderject Pharmaceuticals, Appointed to AVANT Immunotherapeutics Board Of Directors
Tuesday August 12, 8:01 am ET
NEEDHAM, Mass.--(BUSINESS WIRE)--Aug. 12, 2003--AVANT Immunotherapeutics, Inc. (Nasdaq: AVAN - News) today announced that Larry Ellberger, formerly Board Member and Senior Vice President, Corporate Development, Powderject Pharmaceuticals Plc, has joined the AVANT Board of Directors.
"We are very pleased that Larry Ellberger has agreed to join AVANT's Board of Directors," said Una Ryan, Ph.D., President and Chief Executive Officer of AVANT Immunotherapeutics. "He brings to the board extensive and relevant management and financial experience in building successful companies that complements that of our current board members very well. In particular, Larry's experience in leading Powderject's acquisition of several vaccine companies including, Evans Vaccines and SBL Vaccines, to form the sixth largest vaccine company worldwide, gives him an excellent understanding of the corporate partnering and strategic acquisition needs of young life sciences companies. Such insight is particularly critical to AVANT at this stage in our company's development." Powderject was recently acquired by Chiron Corporation, the fifth largest vaccine company worldwide.
"I am delighted to participate in the growth of the company," said Larry Ellberger. "AVANT has assembled a significant number of opportunities for product development, both on their own and with partners."
Prior to joining Powderject, Mr. Ellberger was an employee of W.R. Grace & Co. from 1995 to 1999, serving as Chief Financial Officer from 1996 and Senior Vice President, Strategic Planning and Development from 1995. From 1975 to 1995, Mr. Ellberger held numerous senior executive positions at American Cyanamid Company, serving the last four years as Vice President, Corporate Development for the company. Mr. Ellberger currently serves as a Director and Chairman of the Audit Committee for PDI, Inc.
AVANT Immunotherapeutics, Inc. is engaged in the discovery, development and commercialization of products that harness the human immune system to prevent and treat disease. The company is developing a broad portfolio of vaccines addressing a wide range of applications including bacterial and viral diseases, chronic human disease, biodefense and food safety. These include single-dose, oral vaccines that protect against important disease-causing agents and a novel, proprietary vaccine candidate for cholesterol management. AVANT's goal is to demonstrate proof-of-concept for its products before leveraging their value through partnerships. Current collaborations encompass the development of an oral human rotavirus vaccine, vaccines to combat threats of biological warfare, and vaccines addressed to human food safety and animal health.
Additional information on AVANT Immunotherapeutics, Inc. can be obtained through our site on the World Wide Web: avantimmune.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements which reflect AVANT's current views with respect to future events and financial performance. These forward-looking statements are based on management's beliefs and assumptions and information currently available. The words "believe", "expect", "anticipate", "intend", "estimate", "project" and similar expressions which do not relate solely to historical matters identify forward-looking statements. Investors should be cautious in relying on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed in any such forward-looking statements. These factors include, but are not limited to: (1) the integration of multiple technologies and programs; (2) the ability to adapt AVANT's vectoring systems to develop new, safe and effective orally administered vaccines against anthrax and plague or other bioterrorism threats or emerging health care threats; (3) the ability to successfully complete development and commercialization of CETi-1, CholeraGarde(TM) (Peru-15), Ty800 and other products; (4) the cost, timing, scope and results of ongoing safety and efficacy trials of CETi-1, CholeraGarde(TM) (Peru-15), Ty800 and other preclinical and clinical testing; (5) the ability to successfully complete product research and further development, including animal, pre-clinical and clinical studies of CETi-1, CholeraGarde(TM) (Peru-15), Ty800 and other products; (6) the ability of the Company to manage multiple late stage clinical trials for a variety of product candidates; (7) the volume and profitability of product sales of Megan®Vac 1 and other future products; (8) changes in existing and potential relationships with corporate collaborators; (9) the availability, cost, delivery and quality of clinical and commercial grade materials supplied by contract manufacturers; (10) the timing, cost and uncertainty of obtaining regulatory approvals to use CETi-1, CholeraGarde(TM) (Peru-15) and Ty800, among other purposes, to raise serum HDL cholesterol levels and to protect travelers and people in endemic regions from diarrhea causing diseases, respectively; (11) the ability to obtain substantial additional funding; (12) the ability to develop and commercialize products before competitors; (13) the ability to retain certain members of management; and (14) other factors detailed from time to time in filings with the Securities and Exchange Commission. We expressly disclaim any responsibility to update forward-looking statements.
Contact:
AVANT Immunotherapeutics, Inc.
President and CEO
Una S. Ryan, Ph.D., 781/433-0771
or
AVANT Immunotherapeutics, Inc.
Chief Financial Officer
Avery W. Catlin, 781/433-0771
info@avantimmune.com
or
For Media:
Kureczka/Martin Associates
Ellen Martin, 510/832-2044
jkureczka@aol.com
Source: AVANT Immunotherapeutics, Inc. |
