IMUNON Announces Leadership Change

Executive Chairman to lead day-to-day operations, active search underway for CEO successor.
Timing of upcoming milestones for key programs remains unchanged. 

LAWRENCEVILLE, N.J., March 12, 2024 (GLOBE NEWSWIRE) -- IMUNON, Inc. (NASDAQ: IMNN), a clinical-stage drug-development company focused on developing non-viral DNA-mediated immunotherapy and next-generation vaccines, announces that Dr. Corinne Le Goff, Pharm.D. has resigned as President and Chief Executive Officer, and from the Board of Directors, to pursue another business opportunity. Dr. Le Goff’s resignation will be effective as of March 15, 2024. Michael H. Tardugno, the Company’s Executive Chairman, and Chief Executive Officer prior to Dr. Le Goff, will assume day-to-day leadership until a successor is named and will continue in his role directing Company strategy.

“IMUNON has the bench strength more than sufficient to advance our two platform technologies with many dedicated senior executives and scientists to execute our strategic plan,” noted Mr. Tardugno. “Our development strategy and timetables remain unchanged, with two key milestones expected in the near term. We remain on track with preparations to begin a Phase 1 study with IMNN-101, which utilizes our PlaCCine technology, to generate human proof-of-concept data in a seasonal COVID-19 booster vaccine. We look forward to reporting topline data this summer from the OVATION 2 Study with IMNN-001 in advanced ovarian cancer.

“We wish Corinne well in her future endeavors and appreciate her contributions to the company. Meanwhile, an active search is underway for a new CEO,” said Mr. Tardugno.

IMUNON plans to report fourth quarter and full year 2023 financial results and hold an investment community conference call on March 28, 2024, during which management will provide a corporate update and answer questions. Additional information regarding the conference call will be announced in the coming days.

About IMUNON

IMUNON is a fully integrated, clinical-stage biotechnology company focused on advancing a portfolio of innovative treatments that harness the body’s natural mechanisms to generate safe, effective and durable responses across a broad array of human diseases, constituting a differentiating approach from conventional therapies. IMUNON is developing its non-viral DNA technology across four modalities. The first modality, TheraPlas, is developed for the coding of proteins and cytokines in the treatment of solid tumors where an immunological approach is deemed promising. The second modality, PlaCCine, is developed for the coding of viral antigens that can elicit a strong immunological response. This technology may represent a promising platform for the development of vaccines in infectious diseases. The third modality, FixPlas, concerns the application of our DNA technology to produce universal cancer vaccines, also called tumor associated antigen cancer vaccines. The fourth modality, IndiPlas, is in the discovery phase and will focus on the development of personalized cancer vaccines, or neoepitope cancer vaccines.