Immunovaccine Elects Medicago CEO Andy Sheldon as Board Chairman; Reports Results of the Annual General Meeting (AGM)
HALIFAX, NOVA SCOTIA -- (Marketwired) -- 04/15/16 -- Immunovaccine Inc. ("Immunovaccine" or the "company") (TSX: IMV) (OTCQX: IMMVF), a clinical stage vaccine and immunotherapy company, today elected Andrew Sheldon as chairman of its board of directors. Mr. Sheldon, who currently serves as President and CEO of Medicago, joined the board after the company's annual and special meeting of shareholders. Newly named Chief Executive Officer Frederic Ors was also elected to the board.
Andy Sheldon Elected Chairman of the Board
Following his election at the AGM, the board chose Mr. Sheldon to become chairman, effective immediately, to serve until the next AGM. Mr. Sheldon succeeds Albert Scardino, who remains a director of the company.
"Immunovaccine leads the industry in development of a platform that enhances the speed, strength and durability of vaccines," Mr. Sheldon said. "Add to that the simplicity and low cost of its manufacturing processes and you have a combination that could significantly impact the ways our entire industry approaches the development of cancer therapies and the prevention of infectious diseases. With the partnerships the company is developing, there are broad opportunities to create products that address the fast changing world of cancer therapy and the chronic infections that afflict large portions of the world."
Albert Scardino, the retiring chairman, said: "Andy's experience across the pharmaceutical and biotech industries provides just the kind of leadership Immunovaccine needs as it evolves from research and development to commercialization. His partnership with our new chief executive, Fred Ors, revives their long association at Medicago and will give commercial partners and investors confidence that we understand our markets and are ready to serve them."
Voting Results of Annual and Special Meeting of Shareholders of the Company
Immunovaccine also announces the voting results of the annual and special meeting (the "Meeting") of shareholders of the Company (the "Shareholders") held today in Halifax, Nova Scotia.
At the AGM, the shareholders elected Andrew Sheldon and Frederic Ors as new directors and re-elected all six of the nominees listed in the management information circular dated March 20, 2016 (the "Circular").
All Directors were elected until the next annual meeting of Shareholders or until such person's successor is elected or appointed.
Each of the directors was elected by a majority of the votes cast by Shareholders present at the Meeting on a show of hands. The votes represented by proxy in respect of the election of each director are as follows:
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Nominee Votes % of Votes Votes % Votes
For For Withheld Withheld Non Vote
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Wade Dawe 25,127,131 99.85% 37,633 0.15% 3,016,830
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James Hall 21,002,078 83.46% 4,162,686 16.54% 3,016,830
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Wayne Pisano 24,591,578 97.72% 573,186 2.28% 3,016,830
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Albert Scardino 25,131,631 99.87% 33,133 0.13% 3,016,830
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Alfred Smithers 25,132,131 99.87% 32,633 0.13% 3,016,830
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Bradley Thompson 21,000,578 83.45% 4,164,186 16.55% 3,016,830
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Andrew Sheldon 28,181,594 100% - - -
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Frederic Ors 28,181,594 100% - - -
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The Shareholders also approved the re-appointment of PricewaterhouseCoopers LLP as auditor of the Company.
Please refer to the Circular available on SEDAR at www.sedar.com for more information on the business transacted at the Meeting. A report on voting results will also be filed on SEDAR.
About Immunovaccine
Immunovaccine Inc. develops cancer immunotherapies and infectious disease vaccines based on the Company's DepoVax™ platform, a patented formulation that provides controlled and prolonged exposure of antigens and adjuvant to the immune system. Immunovaccine has advanced two T cell activation therapies for cancer through Phase 1 human clinical trials and is currently conducting a Phase 2 study with its lead cancer vaccine therapy, DPX-Survivac, in recurrent lymphoma. DPX-Survivac is expected to enter additional Phase 2 clinical studies in ovarian cancer and glioblastoma (brain cancer). In collaboration with commercial and academic partners, Immunovaccine is also expanding the application of DepoVax™ as an adjuvanting platform for vaccines targeted against infectious diseases. Immunovaccine's goal in infectious diseases is to out-license its DepoVax™ platform to partners to generate earlier revenues. Connect at www.imvaccine.com
Immunovaccine Forward-Looking Statements
This press release contains forward-looking information under applicable securities law. All information that addresses activities or developments that we expect to occur in the future is forward-looking information. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. However, they should not be regarded as a representation that any of the plans will be achieved. Actual results may differ materially from those set forth in this press release due to risks affecting the Company, including access to capital, the successful completion of clinical trials and receipt of all regulatory approvals. Immunovaccine Inc. assumes no responsibility to update forward-looking statements in this press release except as required by law.
Contacts: MEDIA Mike Beyer Sam Brown Inc. T: (312) 961-2502 E: [email protected] INVESTOR RELATIONS Kimberly Stephens Chief Financial Officer T: (902) 492-1819 E: [email protected]
Source: Immunovaccine Inc.
Released April 15, 2016