Idera Pharmaceuticals Inc (NASDAQ:IDRA) reported that Youssef El Zein has elected to step down from the firm’s Board, effective immediately. Mr. Zein has served as a member of company’s Board since 1992 and during that tenure has demonstrated remarkable energy, strategic influence and passion as well as playing a major role through Pillar’s financial support at several points throughout the firm’s history. The firm is presently interviewing candidates to fill this role with an independent director.
The details
Vincent Milano, the CEO of Idera, expressed that on behalf of every company employee and the patients and their families, he wants to thank Zein for his tremendous commitment, support and contribution to the mission of company. They will continue to stay close to him in his role as a notable shareholder with a valuable, extensive knowledge of Idera and its history.
Commenting on the recent update, Zein expressed that it has been the utmost passion of his life to have been a part of this remarkable firm and to now see the transition from the dream of the science starting to become the reality for people suffering from grave unmet needs like PD-1 refractory melanoma. They continue to be extremely optimistic about what the future holds for company and are confident that the firm is in great hands; as shown by the $4.8 million they added to its treasury recently.
Idera is a clinical-stage biopharma firm advancing unique nucleic acid-based therapies for the cure of certain cancers and rare ailments. The company’s proprietary technology comprises utilizing a TLR-targeting know-how, to advance synthetic oligonucleotide-based drug candidates to serve by modulating the activity of specific TLRs. Besides its TLR programs, the company has advanced a third generation antisense technology base utilizing its proprietary technology to constrain the production of disease-linked proteins by targeting RNA.
