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Immune Pharmaceuticals Announces Changes To Its Board Of Directors

Stocks in this article: MGLN

TARRYTOWN, N.Y. and HERZLIYA-PITUACH, Israel, Oct. 15, 2013 /PRNewswire/ -- Immune Pharmaceuticals Inc. (OTCQX and NASDAQ OMX Stockholm Exchange: IMNP), announced today that Rene Lerer, M.D., Executive Chairman of Magellan Health Services (NASDAQ: MGLN), and Daniel Kazado, Senior Advisor to Melini Capital, have agreed to join the Company's Board of Directors. Dr. Lerer and Mr. Kazado replace Pierre Albouy and Herve de Kergrohen, who have resigned from the board but will continue as strategic advisors to the Company.  The Company's Board of Directors will continue to consist of a total of seven members.

Rene Lerer, M.D., is an accomplished health care leader with more than thirty years of significant, hands- on experience. For the past decade, he has lead the transformation, diversification, and growth of Magellan Health Services (NASDAQ: MGLN), serving first as President and Chief Operating Officer before being named Chairman and Chief Executive Officer.  During his tenure, he operationally and financially transformed Magellan into a leading specialty health care company with revenue of more than $3 billion and a market cap of over $1.5 billion.  In addition to his accomplishments at Magellan, Dr. Lerer's extensive experience and expertise includes serving as Founder and President of the Internet Healthcare Group, serving as the Chief Operating Officer of Prudential Healthcare, and holding senior executive positions with Value Health, Value Health Sciences and The Travelers Companies.  Dr. Lerer holds a Bachelor of Science Degree in Psychobiology from Oberlin College, and a Doctor of Medicine Degree from the School of Medicine of the State University of New York at Buffalo.

Daniel Kazado is a Senior Advisor to Melini Capital, a family owned private and public equity firm investing internationally in several industries. Melini Capital has been an early and significant investor in Immune Pharmaceuticals. Mr. Kazado built his own management consulting firm over 15 years to 25 professionals advising boards of directors and senior management in multiple industries, and in 2002   sold the company to Altran Technologies, a global engineering and management consulting group with revenues of over €1 billion. Mr. Kazado earned a bachelor's degree in Business Administration and a master's degree in Management from Lyon University in France.

Daniel Teper, Pharm.D., M.B.A., Immune Pharmaceuticals' Chairman and CEO, commented, "We are privileged to have an experienced and committed Board of Directors to provide Immune with corporate governance, and strategic, financial and operational guidance. Immune's directors have a track record of helping create significant value for shareholders of fast growing companies in the biotech and healthcare industries."

"I am very enthusiastic about joining the Board of Directors of Immune Pharmaceuticals and in helping the Company achieve its objectives," said Dr. Lerer. "As a doctor and a health care executive, I believe strongly in the Company's personalized approach to treating and developing therapeutics to help patients with inflammatory diseases and cancer. These are serious medical issues and Immune is taking an innovative approach by developing highly targeted antibodies to improve the lives of patients." 

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