Healthcare Industry News: Alteon
News Release - December 18, 2006
Advaxis Names Thomas A. Moore to Serve as CEO and Chairman of the BoardRoni Appel Resigns As CEO
NORTH BRUNSWICK, N.J.--(HSMN NewsFeed)--Advaxis, Inc. (OTCBB: ADXS ) a biotechnology company developing novel Listeria-based therapeutic cancer vaccines, announced that its Board of Directors has named Thomas A. Moore to serve as the company's Chief Executive Officer and Chairman. Mr. Moore replaces Roni Appel as CEO, who will remain on the Board of Directors and continue to work closely with Mr. Moore as an advisor to the company.
Moore, 55, who has served on the Advaxis Board of Directors since September 2006 brings more than 25 years of experience in healthcare and general management. Mr. Moore is currently a board member of Alteon, Inc., a publicly traded developer of pharmaceuticals for the treatment of diabetes and age-related diseases, El Dorado Inc., a targeted marketer to unassimilated Hispanics, Medmeme, which measures medical education effectiveness, and Opt-e-scrip, Inc., which markets a clinical system to compare multiple drugs in the same patient. He also serves as Chairman of Mayan Pigments, Inc., which has developed and patented Mayan pigment technology. Previously, from June 2002 to June 2004 Mr. Moore was President and Chief Executive Officer of Biopure Corporation, a developer of oxygen therapeutics that are intravenously administered to deliver oxygen to the body's tissues. From 1996 to November 2000 he was President and Chief Executive Officer of Nelson Communications. Previously, Mr. Moore had a 23-year career with the Procter & Gamble Company in multiple managerial positions, including President of Health Care Products where he was responsible for prescription and over-the-counter medications worldwide, and Group Vice President of the Procter & Gamble Company.
Mr. Moore said, "I have had the pleasure of working with the Advaxis team over the past few months and look forward to helping set the future direction of Advaxis. The company is developing novel and exciting vaccine therapies and I believe it has a solid future. I am pleased to have the opportunity to be working closely with such a talented group of scientific and business leaders."
Mr. Appel said, "My fundamental passion is guiding companies through their initial growth. When I co-founded Advaxis with Dr. Yvonne Paterson, Professor of Molecular Biology at University of Pennsylvania, we had the vision of developing an immunotherapy that would fundamentally change the way cancer is treated."
Mr. Appel continued, "Since beginning operations, Advaxis has recruited an outstanding management team, secured funding, scaled up its manufacturing capabilities, established its own laboratories and hired a group of top level scientists to complement the founding team. The company has now nine Listeria-based cancer vaccines in development, with its lead vaccine Lovaxin C in Phase I/II currently dosing cancer patients. As a team, we have built a very strong company poised for substantial growth in the fast-advancing field of cancer vaccines. I am committed to working with the board and Mr. Moore during this transition, and I have utmost confidence in Advaxis' future success under the leadership of Mr. Moore."
"We want to thank Roni for his leadership during an important and challenging phase of Advaxis' corporate growth and development," stated Richard Berman, Director of Advaxis. "Roni has been instrumental in positioning the company for success, with its lead Listeria cancer vaccine Lovaxin C and many of the components of a fully integrated biopharmaceutical company in place. Mr. Moore is a seasoned and highly respected pharmaceutical executive with over 25 years of experience in researching, developing and commercializing biopharmaceutical products. We are pleased to have a person of Mr. Moore's caliber on our management team to step in and lead the company during the next phase of the company's growth."
Based in North Brunswick, New Jersey. Advaxis is developing proprietary Listeria cancer vaccines based on technology developed by Dr. Yvonne Paterson, professor of microbiology at the University of Pennsylvania, and chair person of Advaxis' Scientific Advisory Board. Advaxis' is developing therapeutic cancer vaccines that enhance the immune system's cancer-fighting abilities through its proprietary Listeria monocytogenes based system, which utilizes two immunological mechanisms (Innate and Classical Immunity) to develop safer and more effective Listeria based cancer vaccines. Advaxis is the exclusive licensee of a patented broadly enabling Listeria platform technology that can elicit effective anti-tumor responses. Advaxis' lead Listeria vaccine candidate, Lovaxin C, targets cervical and head and neck cancers. Further Listeria vaccines in development target breast, ovarian and lung cancers. Advaxis has entered a Phase I/II clinical trial. The Listeria platform will also have applications in the fields of infectious disease and autoimmune disorders.
Forward Looking Statements
Certain statements contained in this press release are forward looking statements that involve risks and uncertainties. The statements contained herein that are not purely historical are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward looking statements deal with the Company's current plans, intentions, beliefs and expectations and statements of future economic performance. Forward looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from what is currently anticipated. Factors that could cause or contribute to such differences include those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. The Company cannot guarantee its future results, levels of activity, performance or achievements.
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