CytoDyn names Jacob Lalezari MD as interim CEO:: CytoDyn Inc. (CYDY)

Vancouver, Washington, November 21, 2023 (GLOBE NEWSWIRE) — CytoDyn Inc. (OTC: CYDY) (“CytoDyn” or the “Company”), a biotechnology company developing leronlimab, a CCR5 antagonist with the potential for multiple therapeutic indications, today announced the appointment of Dr. Jacob Lalezari as interim Chief Executive Officer, effective November 2023 Effective on the 17th. Dr. Lalezari will be responsible for leading the company’s corporate and product development, with a focus on near-term clinical development and related fundraising. Antonio Migliarese, who has served as interim president since May 2023, will continue to serve as chief financial officer in addition to chief financial officer.

Dr. Lalezari has over 34 years of industry experience and has served as a long-term consultant to the company. He served as CytoDyn’s interim chief medical officer in 2020 and has served as a member of the company’s scientific advisory board for the past several years. Dr. Lalezari has served as CEO and Medical Director of Quest Clinical Research since 1996 and Chief Medical Officer of Virion Therapeutics in 2018. Dr. Lalezari served as principal investigator for Phase I, II, and III clinical studies at Quest Clinical Research. New treatments for viral diseases such as HIV/AIDS, CMV, HPV, HSV, hepatitis B and C, influenza, RSV and COVID-19, including clinical trials conducted by the company. His work has been widely published and he is a highly regarded international speaker and patient. Dr. Lalezari received his MD from the University of Pennsylvania, his MA from the University of Virginia, and his BA from the University of Rochester. He also holds board certification from the American Board of Internal Medicine.

Tanya Urbach, Chairman of the Board, commented: “On behalf of the Board, we are pleased to have Dr. Lalezari serve as our interim CEO while we work to find the right CEO candidate to lead the company through long-term growth. Dr. Lalezari is one of the most respected leaders in our industry A well-known and respected figure who brings expertise and experience directly relevant to the company’s near-term needs. We expect Dr. Lalezari to work with us over the next several months while the company resolves clinical hold issues and makes key decisions related to re-entering clinical trials and evaluating strategic partnerships. With his industry relationships and knowledge, we believe Dr. Lalezari is well-suited to keep the company’s clinical strategy and potential partner programs moving forward.”

Dr. Lalezari stated, “I am eager to help CytoDyn achieve its corporate goals. In fact, I agreed to serve as interim CEO because of my confidence in leronlimab and its potential. I have worked with leronlimab (and PRO 140 before it) for nearly 20 years , I’m excited to step in at a critical time as the company seeks to emerge from clinical hold, return to trials, and develop a drug that helps patients. “I believe the company can make significant and immediate progress on a number of key goals. “

About CytoDyn

CytoDyn is a clinical-stage biotechnology company focused on the development and commercialization of leronlimab, an investigational humanized IgG4 monoclonal antibody (mAb) designed to interact with CC chemokine receptor type 5 (CCR5) (a protein on the surface of certain immune system cells) is thought to play a role in many disease processes. CytoDyn is studying leronlimab in multiple therapeutic areas, including infectious diseases, cancer and autoimmune diseases.
 
forward-looking statements

This press release contains certain forward-looking statements that involve risks, uncertainties and assumptions that are difficult to predict. Words and expressions that reflect optimism, satisfaction, or disappointment about current prospects, as well as words such as “believe,” “hope,” “intend,” “estimate,” “expect,” “project,” “plan,” “expect” The use of and variations thereof or the future tense may identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Forward-looking statements may include statements regarding leronlimab, its ability to deliver positive health outcomes, the Company’s ability to resolve clinical holds imposed by the U.S. Food and Drug Administration (“FDA”), the Company’s ability to implement a successful operating strategy for the development of leronlimab and thereby create shareholder value, the company’s ability to obtain regulatory approval for commercial sales of its medicines and the strength of the company’s leadership team. The Company’s forward-looking statements do not constitute guarantees of performance, and actual results may differ materially from those contained or expressed in such statements due to risks and uncertainties, including: (i) regulatory concerns about the safety of leronlimab in treating diseases and Determinations of effectiveness under conditions in which the product is being studied by the FDA and various drug regulatory agencies in other countries; (ii) the Company’s ability to raise additional capital to fund its operations; (iii) the Company’s ability to meet its debt and other payment obligations; (iv) ) the Company’s ability to recruit and retain key employees; (v) the Company’s ability to enter into partnerships or licensing arrangements with third parties; (vi) the ability of the Company to enter into partnerships or licensing arrangements with third parties; (vi) the ability of the Company, through internal resources or third-party consultants, to negotiate with the Company’s pharmaceutical products as required by the FDA or other regulatory agencies the timely and adequate analysis of data generated by the Company’s clinical trials in connection with the approval application; (vii) the Company’s ability to obtain marketable product approval; (viii) the design, conduct and conduct of the Company’s clinical trials; (ix) the safety and security of any such clinical trials results, including the possibility of adverse clinical trial results; (x) the market and merchantability of any approved products; (xi) the existence of vaccines, drugs or other treatments that medical professionals or patients consider to be superior to the Company’s products or development; (xii) regulatory initiatives, compliance with government regulations and regulatory approval processes; (xiii) legal proceedings, investigations or inquiries affecting the company or its products; (xiv) general economic and business conditions; (xv) foreign, political and social changes in conditions; (xvi) actions or recommendations of shareholders regarding the Company, its management or board of directors; (xvii) various other matters, many of which are beyond the control of the Company. The Company urges investors to consider specifically the various risk factors identified in its most recent Form 10-K and the risk factors or cautionary statements contained in subsequent Forms 10-Q and 8-K filed with the Securities and Exchange Commission. The Company disclaims any obligation to update any forward-looking statements to take into account events or circumstances occurring after the date of this release, except as required by law.

touch
Investor Relations
CytoDyn Corporation
ir@cytodyn.com

Source: CytoDyn Inc.

Release date: November 21, 2023