IMUNON Appoints Director Dr. Stacy R. Lindborg as President and CEO

Assumes leadership role as Company anticipates multiple near-term clinical milestones

Brings extensive leadership and experience in drug development and business strategy

LAWRENCEVILLE, N.J., May 08, 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, today announced the appointment of Stacy R. Lindborg, Ph.D. as President and Chief Executive Officer, effective May 13, 2024. Dr. Lindborg has served on IMUNON’s board of directors since 2021.

Dr. Lindborg assumes the leadership of IMUNON at a pivotal time. Topline results from the Phase 2 OVATION 2 Study with IMUNON’s lead asset, IMNN-001 using the TheraPlas modality, in advanced ovarian cancer are expected by mid-summer. Phase 1 proof-of-concept data from IMNN-101 using the PlaCCine modality in seasonal COVID-19 are anticipated by year-end.

“Dr. Lindborg is uniquely qualified to take the reins as IMUNON’s President and CEO, bringing a track record of success in virtually every aspect of the work before the company,” said Michael H. Tardugno, IMUNON’s executive chairman. “Her ability to navigate global regulatory paths, having successfully delivered products from the clinic to the market, will be valuable to IMUNON as our pipeline advances. We have benefited significantly from her counsel as a director, where she has played an integral role in establishing our strategic priorities. We now look forward to benefiting from her expertise in a new and deeper capacity, especially as our near-term data readouts will require important decisions with respect to advancing various programs and assets.”

Dr. Lindborg has nearly 30 years of pharmaceutical and biotech industry experience with a particular focus on R&D, regulatory affairs, executive management and strategy development. She has designed, hired and led global teams, guiding long-term vision for growth through analytics and stimulating innovative development platforms to increase productivity. She joins IMUNON from BrainStorm Cell Therapeutics, where she was Executive Vice President and Co-Chief Executive Officer and where she remains a member of the board of directors. At BrainStorm she was accountable for creating and executing clinical development strategies through registration and launch and progressed its novel cell therapy for ALS through a positive Phase 3 Special Protocol Assessment (SPA) study with the U.S. Food and Drug Administration. She interacted frequently with investors and analysts, represented the company in the scientific community as well as with the media, and played an active role in discussions with potential business partners.