Post by icemandios on Aug 2, 2018 1:59:36 GMT
MabVax Therapeutics Announces Board of Director Changes
In a separate action, Gregory Hanson CMA, MBA, the Chief Financial Officer of the Company since July 2014, and of its subsidiary, MabVax Therapeutics, Inc., since February 2014, has been appointed to fill one of the vacant board seats. Mr. Hanson has over 30 years' experience serving as the CFO, financial executive and board member of public and private life sciences and hi-tech companies. Since October 2016, he has served as a member of the board of directors of WCCT, Inc., a private pharmaceutical contract research organization.
MabVax Therapeutics Holdings, Inc. is a clinical-stage biotechnology company with a fully human antibody discovery platform focused on the rapid translation into clinical development of products to address unmet medical needs in the treatment of cancer. In the last month, the Company has completed a preclinical asset sale and license agreement with Boehringer Ingelheim, and a license agreement for a cancer vaccine to Y-mAbs Therapeutics. The Company received nearly $5 million in upfront payments from these two transactions to begin the third quarter, with an additional $7.6 million in downstream milestones expected to be received based either on reaching an anniversary date of entering the agreement, or upon reaching a milestone.