Navidea Biopharmaceuticals announces changes in the composition of the Board of Directors
DUBLIN, Ohio, September 17, 2021– (COMMERCIAL THREAD) – Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) (“Navidea” or the “Company”), a company specializing in the development of immunodiagnostic and precision immunotherapy agents, today announced that on September 14, 2021, at a meeting of the Board of Directors (the “Board”) of the Company which followed the Company’s Annual Meeting of Shareholders in 2021, S. Kathryn Rouan, Ph.D. his retirement as Chairman and Director, and Claudine Bruck, Ph.D. retired as Director, both effective immediately.
Following the retirement of Dr. Rouan as Chairman, the Board appointed Alexander L. Cappello and John K. Scott, Jr., both of whom were current Board members, respectively Chairman and Vice Chairman of the Board. .
Also effective September 14, 2021, the Board appointed Mr. Cappello to the Audit Committee and, accordingly, the current members of the Audit Committee are Amit Bhalla (Chairman), Malcolm Witter and Mr. Cappello. On the same date, the board appointed MM. Cappello and Scott to the Compensation, Nomination and Governance (“CNG”) Committee and appointed Mr. Witter as Chairman, and therefore the current members of the CNG Committee are Mr. Witter (Chairman), Mr. Scott and Mr. Cappello.
Jed Latkin, CEO of Navidea, said: “We thank Kathy and Claudine for their service on the board and the valuable information they have provided over the years. With 60 years of combined experience in the clinical space, their contributions have helped shape both the diagnosis and therapeutic direction of the Company. We wish them the best in their future endeavors. “
Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) is a biopharmaceutical company specializing in the development of immunodiagnostic and precision immunotherapy agents. Navidea is developing several precisely targeted products based on its Manocept ™ platform to improve patient care by identifying disease sites and pathways and enable improved diagnostic accuracy, clinical decision making and targeted treatment. Navidea’s Manocept platform relies on the ability to specifically target the CD206 mannose receptor expressed on activated macrophages. The Manocept platform serves as the molecular backbone for tilmanocept Tc99m, the first product developed and marketed by Navidea based on the platform. Navidea’s strategy is to generate superior growth and return for shareholders by bringing innovative products to market and advancing the company’s pipeline through global partnership and commercialization efforts. For more information, please visit www.navidea.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We have based these forward-looking statements in large part on our current expectations and projections regarding future events and financial trends affecting the financial condition of our business. Forward-looking statements include our expectations regarding pending litigation and other matters. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to: our history of operating losses and the uncertainty of our future profitability; the end result of any pending litigation; our ability to successfully research and develop our drug candidates; the timing, cost and uncertainty of obtaining regulatory approvals for our drug candidates; our ability to successfully market our drug candidates; dependence on royalties and subsidy revenues; our ability to implement our growth strategy; expected trends in our business; our limited product line and distribution channels; technological advances and the development of new competitive products; our ability to comply with NYSE American continuous listing standards; our ability to maintain effective internal control over financial reporting; the impact of the current coronavirus pandemic; and other risk factors detailed in our most recent annual report on Form 10-K and other documents filed with the SEC. You are urged to carefully review and review the information in our documents with the SEC, which is available at http://www.sec.gov or to http://ir.navidea.com.
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Navidea Biopharmaceuticals, Inc.
Chief Executive Officer