Vote FOR all four of venBio’s nominees on the GOLD Your vote is critical to electingĪ Board with the right capabilities necessary to advance the best interests of stockholders.
In order to advance the IMMU-132 drug and to ultimately maximize value for all stockholders. We believe urgent change is necessary at Immunomedics IMMU-132, build stockholder value and position the Company for long-term value creation. Behzad Aghazadeh – have the right pharmaceuticalĭevelopment background, commercial manufacturing expertise and pharmaceutical partnering/deal making experience needed to advance Its nominees – Scott Canute, Peter Barton Hutt, Dr. The necessary qualities to restore independent and competent governance and to maximize value for stockholders. VenBio’s four highly-qualified nominees possess These include moving quickly to evaluate strategic options for Immunomedics while advancing IMMU-132 towards the market, bolstering corporate governance to rebuild confidence among key stakeholders, and improving operations and financial Management continues to generously reward themselves at the expense of stockholders. Recent success of IMMU-132, the stock price continues to underperform, in our view, largely due to To add it to the long list of drug failures that have taken place at the Company under the current management team. Failure to execute on striking a pharma partnership in order to advance IMMU-132 threatens Overseen decades-long value destruction and underperformance – while simultaneously enriching themselves – will retainĬontrol with the new Board structure. The current Immunomedics management team that has None of these have relevance to Immunomedics’ core business. In addition, while Aryeh is currently on five different Boards, Market interest and poor financial performance under his oversight. His Board experience to date has been characterized by inability to complete promised acquisitions, failure to generate public Stockholders, likely due to his history of failing to execute on promises and acting on behalf of the best interests of stockholders. Boards in which Aryeh is a director have experienced share price decline and loss of key Not have the necessary skillset or experience to position the Company for success, and has a history of overpromising, under-deliveringĪnd destroying stockholder value. Newly-appointed Vice-Chairman Jason Aryeh does Independence to adequately oversee the Company. Furthermore, this group is highly interconnected and lacks the Members lack the manufacturing, regulatory, and pharmaceutical deal experience that is vital to reverse the string of Highlights of venBio’s presentation and strategic plan Of Immunomedics and to maximize the value of the Company’s assets. View, the Company’s leadership and newly-configured Board lack the independence and experience needed to right the course venBio strongly believes that it isĬrucial to provide experienced and competent oversight to realize the significant potential of IMMU-132. To advance the best interests of stockholders, especially due to the Company’s failure to form a strategic partnership toīring to market the Company’s promising Triple Negative Breast Cancer drug, IMMU-132. In this presentation, venBio highlights the Company’sĭecades-long value destruction and underperformance and discusses how the Board of Directors and management have failed “The Case for Change at Immunomedics, Inc.” This presentation can be found at. IMMU) (“Immunomedics” or the “Company”) and its largest stockholder, today released a presentation: titled LLC (“venBio”), the beneficial owner of approximately 10.5 million shares, or 9.9%, of Immunomedics, Inc. NEW YORK (January 26, 2017) – venBio Select Advisor Immunomedics Board and Lack of Qualifications of Appointees to Reverse Strategic Misstepsīoard Nominees, Who Possess the Necessary Skillset and Experience to Maximize the Value of Immunomedics Reveals Interconnectedness of Newly-Appointed