SOURCE: Immunotope, Inc.

March 02, 2007 10:17 ET

Immunotope, Inc. Announces Board and Management Appointments

Company Names Two New Directors and Interim CEO

DOYLESTOWN, PA -- (MARKET WIRE) -- March 2, 2007 -- Immunotope, Inc., a biotechnology company developing innovative therapeutic products for cancer and chronic viral infections, announced today the appointments of Edward L. Erickson and Elizabeth E. Tallett to its board of directors. Mr. Erickson will also serve as interim Chief Executive Officer (CEO) to lead the company forward and secure venture capital financing. Both Mr. Erickson and Ms. Tallett have extensive experience as directors and officers of companies in the biotechnology industry encompassing therapeutics, diagnostics and life science research products.

Commenting on the appointments, Ramila Philip, Ph.D., President and Chief Scientific Officer, and a director and founder of Immunotope, said: "We are extremely fortunate and pleased to have Mr. Erickson and Ms. Tallett on our board of directors and welcome Mr. Erickson to the management team. They both possess substantial background that will help us build a well-managed and highly successful biotechnology company."

Mr. Erickson added: "I believe Immunotope's proprietary platform technology will overcome many of the limitations of traditional approaches to immunotherapy and may add substantially to the armamentarium of products for improving the quality of life and prognosis for cancer patients and people living with serious chronic viral infections. Immunotope's technology may also have utility in the discovery and development of diagnostic and life science research products in these fields of medicine as well."

Remarking on her appointment as a director, Ms. Tallett said: "The quality of the science, the qualifications of the scientific founders, and the backgrounds of the scientific advisors of Immunotope are outstanding. I look forward to working with Ed Erickson and the other members of the management team to secure the funding necessary to fuel Immunotope's development to become a top-tier biotechnology company."

Biographical information on Edward L. Erickson

Edward L. Erickson is a consultant to life science companies and advisor to venture capital firms. He has extensive experience in the biotechnology industry, including therapeutic, diagnostic and life science research products companies and has served as president, CEO or a director of eleven such companies during his career. As CEO he has successfully guided three of these companies through initial public offerings. Additionally, he has raised a total of approximately $500,000,000 in equity and debt capital in both the private and public capital markets. His current directorships include Immunicon Corporation (chairman), Barrier Therapeutics, Inc., BioTrove, Inc., and Lazarus Therapeutics, Inc. Mr. Erickson holds BS and MS degrees from the Illinois Institute of Technology and an MBA with high distinction from Harvard University.

Biographical information on Elizabeth E. Tallett

Elizabeth Tallett is a respected leader with more than thirty years of experience in the pharmaceutical and biotechnology industries. She is a principal and founder of Hunter Partners, LLC, which specializes in management support and advisory services to emerging bio-pharmaceutical firms. She has extensive experience in the life sciences field, having served as CEO and executive director of six companies. Her senior management experience includes President and CEO of Transcell Technologies Inc., President of Centocor Pharmaceuticals, member of the Parke-Davis Executive Committee, and Director of Worldwide Strategic Planning for Warner-Lambert. Ms. Tallett graduated with a first class honors degree in mathematics and economics, specializing in the use of statistical methods in management. Ms. Tallett is a director of the Principal Financial Group, Inc., Varian, Inc., Coventry Health Care, Inc., Varian Semiconductor Associates, Inc., IntegraMed America, Inc., Immunicon Corporation, Varinel Inc. and the Museum for Contemporary Science.

About Immunotope

Immunotope is a clinical stage biotechnology company developing immunotherapy products for the treatment of cancer and chronic viral infections. Immunotope's comprehensive approach to cancer therapy focuses on the critical, unmet needs of diagnosing cancer early and providing effective treatments that destroy tumors and prevent recurrence and metastasis. The Company's lead product candidate is an immunotherapeutic vaccine for advanced stage ovarian and breast cancer. Also in development are immunotherapeutics for treatment and prevention of chronic hepatitis and HIV, and autoantibody-based tests for early stage diagnosis of ovarian and prostate cancer.

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