GAITHERSBURG, Md., April 22, 2015 /PRNewswire/ -- GenVec, Inc. (NASDAQ: GNVC) today announced that the Board of Directors of GenVec, Inc. appointed Michael Richman as a director of the company.
Mr. Richman has served as the president and chief executive officer of Amplimmune, a member of the AstraZeneca group since 2013. Prior to Amplimmune's acquisition by AstraZeneca, he was president and chief executive officer of the company when it was a privately held biologics company focused on cancer and autoimmune diseases. Mr. Richman served as president of Amplimmune from 2007 through 2008. From 2002 through 2007, he was the executive vice president and chief operating officer of MacroGenics, a clinical-stage biopharmaceutical company focused on discovering and developing innovative monoclonal antibody-based therapeutics for the treatment of cancer, autoimmune disorders and infectious diseases.
Mr. Richman has over 30 years of experience working in research, intellectual property and business development capacities in companies such as Chiron Corporation (now Novartis) and MedImmune, Inc. (prior to AstraZeneca's acquisition), where he was senior vice president corporate development. While at MedImmune, Mr. Richman was responsible for all business development, licensing, intellectual property, legal affairs, project management and strategic planning functions, and drove many significant transactions during that period.
Mr. Richman is also member of the board of directors of Opexa Therapeutics, Inc., a public company, Madison Vaccines, Inc., a private company, and Pieris Pharmaceuticals, Inc., a public company. He also served as a director of Cougar Biotechnology until its acquisition by Johnson & Johnson. Mr. Richman obtained his B.S. in genetics/molecular biology at the University of California at Davis and his M.S.B.A. in international business at San Francisco State University.
"Michael brings his extensive experience in business development, strategic planning, and operations management to the GenVec board, a skill set which will be an invaluable as we execute our strategy of building a portfolio of opportunities which leverage our core technologies. We look forward to working closely with him," commented Douglas J. Swirsky, GenVec's president and CEO.
GenVec is a clinical-stage biopharmaceutical company with an entrepreneurial focus on leveraging its proprietary adenovector gene delivery platform to develop a pipeline of cutting-edge therapeutics and vaccines. The company is a pioneer in the design, testing and manufacture of adenoviral-based product candidates that can deliver on the promise of gene-based medicine. GenVec's lead product candidate, CGF166, is licensed to Novartis and is currently in a Phase 1/2 clinical study for the treatment of hearing loss and balance disorders. In addition to our internal and partnered pipeline, we also focus on opportunities to license our proprietary technology platform, including vectors and production cell lines, for the development and manufacture of therapeutics and vaccines to the biopharmaceutical industry. 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.
SOURCE GenVec, Inc.