Dr. Una Ryan Departs AVANT Immunotherapeutics
Wednesday May 14, 8:00 am ET
NEEDHAM, Mass.--(BUSINESS WIRE)--AVANT Immunotherapeutics (NASDAQ: AVAN - News) today announced the departure of Una Ryan, Ph.D, President and CEO, effective immediately. Over the last fifteen years, Dr. Ryan was instrumental in the development and partnering of multiple products, including Rotarix®--an oral vaccine partnered with GlaxoSmithKline and recently approved by the FDA for protection against rotavirus in infants. Anthony S. Marucci, currently the Executive Vice President of the Company, will serve as interim CEO until a permanent successor is announced.
“After 15 years, the time has come for me to move on,” stated Dr. Ryan. “The Company has a strong financial foundation, and with the completed merger in March with Celldex Therapeutics, has a deep pipeline of products and a combined management team that can drive our company to success. I am eager to take on my next professional challenge and look forward to dedicating more time to my many activities outside of AVANT.”
Dr. Ryan serves on the Boards of the Massachusetts Biotechnology Council, the Biotechnology Industry Organization, the New England Healthcare Institute, IQuum, Inc., Albany Molecular Research, Inc, the Board of Associates of the Whitehead Institute, the Business Advisory Board of BIO Ventures for Global Health, the Scientific Advisory Board of Genocea, Inc. and the UMASS High Technology Executive Council. She is also a member of the Strategy & Policy Council of the MIT Center for Biomedical Innovation and is a Research Professor of Medicine at Boston University School of Medicine and serves on its Board of Visitors.
“Dr. Ryan has been a visionary leader and was instrumental in combining the people and product strengths of AVANT and Celldex to create a leading cancer and infectious disease company leveraging breakthroughs in immunotherapeutics,” stated Charles R. Schaller, Chairman of the Board of AVANT. “In light of the strength of the Company's experienced executive team, as well as its strong financial position and deep clinical pipeline, the Company does not anticipate material changes to its strategic direction as a result of these events.”
The Company and Dr. Ryan are currently in discussions concerning the terms of her separation. The nominating and corporate governance committee of the Board will commence a search process which will include a review of internal and external candidates. |
