The president of research and development at biotech giant MedImmune has resigned from the board of Iomai, a much smaller biotech company that went public in February.
Jim Young, who joined the board in 2002, resigned July 5 because of his duties at MedImmune (NASDAQ: MEDI) and not because of any disagreement with Iomai, the company says in a Securities and Exchange Commission filing.
Young served as a member of the Iomai board's compensation committee and corporate governance committee.
Iomai President and CEO Stan Erck says Young was a major contributor to the company, a maker of patch-based vaccines for flu and other infectious diseases. Iomai (NASDAQ: IOMI) raised about $31 million when it went public.
The board has elected someone familiar with the local biotech scene to fill its empty seat.
Replacing Young is Thomas Vernon, previously a vice president at Merck (NYSE: MRK) and more recently a consultant to MedImmune, Gaithersburg-based diagnostics company Digene (NASDAQ: DIGE) and another large biotech company, Chiron of Emeryville, Calif., which has been acquired by Novartis (NYSE: NVS).
Iomai's board approved an increase in its size, to seven members. It elected a new director, Weller Meyer, who is chairman, president and CEO of Acacia Federal Savings Bank in Falls Church.
Jim Young, who joined the board in 2002, resigned July 5 because of his duties at MedImmune (NASDAQ: MEDI) and not because of any disagreement with Iomai, the company says in a Securities and Exchange Commission filing.
Young served as a member of the Iomai board's compensation committee and corporate governance committee.
Iomai President and CEO Stan Erck says Young was a major contributor to the company, a maker of patch-based vaccines for flu and other infectious diseases. Iomai (NASDAQ: IOMI) raised about $31 million when it went public.
The board has elected someone familiar with the local biotech scene to fill its empty seat.
Replacing Young is Thomas Vernon, previously a vice president at Merck (NYSE: MRK) and more recently a consultant to MedImmune, Gaithersburg-based diagnostics company Digene (NASDAQ: DIGE) and another large biotech company, Chiron of Emeryville, Calif., which has been acquired by Novartis (NYSE: NVS).
Iomai's board approved an increase in its size, to seven members. It elected a new director, Weller Meyer, who is chairman, president and CEO of Acacia Federal Savings Bank in Falls Church.
posted by doublezero at
12:30 PM
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