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ImmunoCellular Therapeutics, Ltd. (“ImmunoCellular”) (NYSE MKT: IMUC) announced today that the Board of Directors has appointed John S. Yu, MD, as Interim Chief Executive Officer and President, and has accepted the resignation of Manish Singh, PhD, effective immediately, from the CEO, President, and Board positions. Dr. Yu will continue to serve as Chief Scientific Officer and Chairman of the Board. ImmunoCellular has initiated a search for a permanent chief executive officer.
Commented Dr. Yu: “This is an exciting period in ImmunoCellular’s development as an emerging leader in cancer immunotherapy. With the broad potential inherent in our platform technology, and our demonstrated ability to execute on our clinical strategies, we are well positioned to expand our development portfolio into new cancer indications that represent significant unmet medical needs and for which our unique immunotherapeutic approaches hold great promise. We look forward to the completion of our randomized, double blind placebo-controlled Phase II trial of ICT-107 in glioblastoma. We hope that this trial will provide clinical validation of our platform and represent a potential breakthrough treatment for this deadly and intractable cancer. We intend to continue to make progress in advancing our earlier stage product candidates, with the recent approval of an IND to initiate a Phase I trial of ICT-121 targeting CD133-positive cancer stem cells. We are developing a Phase I study with ICT-140 to treat ovarian cancer.”
Added Dr. Yu: “ImmunoCellular’s Board of Directors and management team join me in thanking Dr. Singh for his many contributions to ImmunoCellular during its early years, and helping to develop ICT-107’s potential to change the cancer treatment paradigm. We wish Dr. Singh well in his future endeavors.”
Dr. Yu is the founder of ImmunoCellular, and has been the major guiding force behind ImmunoCellular’s growth and evolution as a company with a unique set of technological and product assets. He is an internationally renowned neurosurgeon, and a recognized expert in cancer immunotherapy, cancer stem cells and malignant brain tumors. He is the inventor of many of the immunotherapeutics licensed by the company from Cedars-Sinai Medical Center. Dr. Yu is on the faculty of the Department of Neurosurgery at Cedars-Sinai Medical Center.