Opexa Therapeutics Announces Retirement of CEO David McWilliamsTHE WOODLANDS, Texas--(BUSINESS WIRE)--Mar 21, 2008 - Opexa Therapeutics, Inc. (NASDAQ:OPXA), a company leading in the development and commercialization of personalized cell therapies, today announced that David B. McWilliams, President and Chief Executive Officer, has notified the Company of his intention to retire following the naming of his successor.
Scott B. Seaman, Chairman of the Company's Nominations Committee, stated, "All of the directors would like to thank David for his valuable contributions to the Company and for his generous commitment to continue to provide leadership during the search and transition period. We are also pleased that David will continue to serve on the Board of Directors and be part of advancing both our platforms, especially as we approach completion of the Tovaxin(R) Phase IIb trial."
About Opexa Therapeutics
Opexa Therapeutics develops and commercializes cell therapies to treat autoimmune diseases such as MS, rheumatoid arthritis, and diabetes. The Company is focused on autologous cellular therapy applications of its proprietary T-cell and stem cell therapies. The Company's lead product, Tovaxin, a T-cell therapy for multiple sclerosis is in Phase IIb trials. The Company holds the exclusive worldwide license for adult multipotent stem cells derived from mononuclear cells of peripheral blood. The technology allows large quantities of monocyte derived stem cells to be produced efficiently for use in autologous therapy, thus circumventing the threat of rejection. The Company is in preclinical development for diabetes mellitus. For more information, visit the Opexa Therapeutics website at www.opexatherapeutics.com.
Cautionary Statement Relating to Forward - Looking Information for the Purpose of "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995
This press release contains "forward-looking statements," including statements about Opexa Therapeutics' growth and future operating results, discovery and development of products, strategic alliances and intellectual property, as well as other matters that are not historical facts or information. These forward-looking statements are based on management's current assumptions and expectations and involve risks, uncertainties and other important factors, specifically including those relating to Opexa Therapeutics' ability to obtain additional funding, develop its stem cell technologies, obtain FDA approval for its therapeutic products, achieve its operational objectives, and obtain patent protection for its discoveries, that may cause Opexa Therapeutics' actual results to be materially different from any future results expressed or implied by such forward-looking statements. Opexa Therapeutics undertakes no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.
Opexa Therapeutics, Inc.
Lynne Hohlfeld, 281-719-3421
Posted: March 2008