VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 20, 2016) -
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bioMmune Technologies Inc. ("bioMmune" or the "Company") (TSX VENTURE:IMU), a biotechnology company that specializes in drug discovery and development, today announced the appointment of Dr. Thomas R. Gadek to its Board of Directors.
"Tom's demonstrated success as a discovery scientist and his accomplishments in executive leadership make him a perfect fit for our board," said Patrick Gray, CEO of bioMmune. "We are very pleased to welcome Tom, as his expertise will greatly aid our ability to discover and develop life-saving therapeutics, thus creating significant value for our shareholders".
Dr. Gadek has had an illustrious career in the biotechnology industry spanning 33 years. He discovered and developed several novel first in class molecules addressing emerging protein therapeutic targets. These efforts have been chronicled as an author on 54 peer reviewed publications and as an inventor on 64 issued and 76 pending United States patents. Dr. Gadek initially gained experience and expertise at larger companies, 5 years at Syntex and 15 years at Genentech. He founded the venture backed startup SARcode, where he was CEO. Dr. Gadek engineered the target identification, lead discovery, and clinical proof of concept for the development of Lifitegrast, a treatment for dry eye. This resulted in the acquisition of SARcode by Shire, and the approval of Lifitegrast by the FDA in 2016. Throughout his career, Dr. Gadek has gained experience in many critical aspects of modern drug discovery and development. His expertise covers the realm of immunology and inflammation, particularly in the fields of ophthalmology and dermatology. As a renowned medicinal chemist, he has pioneered the understanding of the transfer of protein epitopes to small molecule scaffolds for the identification of inhibitors of protein-protein interactions. Dr. Gadek obtained his Ph.D. in Chemistry from the University of California, Berkeley following a Bachelors degree from the University of Colorado and a Masters degree from MIT.
ABOUT BIOMMUNE TECHNOLOGIES INC.
BioMmune focuses on cancer, infectious and autoimmune diseases. Three significant technologies are:
- Utilizing proprietary screening systems for identifying novel compounds that are able to restore immune recognition and killing of cancer cells.
- Exploiting the regulation of calcium channel activity which is important for controlling cells involved in the immune system. By regulating these calcium channels, immune activity can be controlled in ways to improve their ability to combat cancers, infections and autoimmune diseases.
- Modulating CD74, a protein involved in the immune system and its ability to reject foreign materials including pathogenic microbes. Finding molecules that regulate CD74 activity will aid the immune system to combat infections and cancers and to control autoimmune diseases.
Certain statements in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including without limitation statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect" and similar expressions. Such forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause our actual results, events or developments, or industry results, to be materially different from any future results, events or developments express or implied by such forward-looking statements or information. Such factors include, among others, our stage of development, lack of any product revenues, additional capital requirements, risk associated with the completion of clinical trials and obtaining regulatory approval to market our products, the ability to protect our intellectual property, dependence on collaborative partners and the prospects for negotiating additional corporate collaborations or licensing arrangements and their timing. Specifically, certain risks and uncertainties that could cause such actual events or results expressed or implied by such forward-looking statements and information to differ materially from any future events or results expressed or implied by such statements and information include, but are not limited to, the risks and uncertainties that: or future products in our targeted corporate objectives; our future operating results are uncertain and likely to fluctuate; we may we may not be successful in either preclinical or clinical trials and not be able to raise additional capital; we may not be successful in establishing additional corporate collaborations or licensing arrangements; we may not be able to establish marketing and the costs of launching our products may be greater than anticipated; we have no experience in commercial manufacturing; we may face unknown risks related to intellectual property matters; we face increased competition from pharmaceutical and biotechnology companies; and other factors as described in detail in our filings with the Canadian securities regulatory authorities at www.sedar.com. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. All forward-looking statements and information made herein are based on our current expectations and we undertake no obligation to revise or update such forward- looking statements and information to reflect subsequent events or circumstances, except as required by law.
On Behalf of the Board of Directors
Dr. Patrick Gray, President and CEO
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