IRVINE, Calif., April 4, 2008 /PRNewswire-FirstCall/ -- IDM Pharma, Inc. announced today the appointment of Gregory J. Tibbitts to its board of directors, effective April 3, 2008. Mr. Tibbitts is currently the chief financial officer for CryoCor, Inc. , a San Diego-based medical device company and in this role has overseen the transition from a private to public company, as well as from a clinical stage company to the current commercial operation.
“Greg’s extensive financial experience will be an asset to IDM Pharma’s board of directors,” said Timothy P. Walbert, president and chief executive officer of IDM Pharma. “In senior positions at both privately-held and publicly-traded companies, Greg has proven himself to be an executive with strong integrity and outstanding leadership abilities.”
During his more than 19 years in the financial and pharmaceutical industries, Mr.Tibbitts has held senior positions in a number of other companies including chief financial officer at Elitra Pharmaceuticals, a privately held drug discovery company. In addition, Mr. Tibbitts served as senior manager at Ernst & Young LLP and division controller at ITT Residential Capital.
Mr. Tibbitts received a bachelor’s degree from the University of San Diego and a master’s degree from San Diego State University, and is a Certified Public Accountant.
About IDM Pharma
IDM Pharma is focused on the development of innovative cancer products that either destroy cancer cells by activating the immune system or prevent tumor recurrence by triggering a specific adaptive immune response. IDM Pharma is dedicated to maximizing the full therapeutic and commercial potential of each of its innovative products to address the needs of patients and the physicians who treat these patients.
For more information about the company and its products, visit http://www.idm-pharma.com.
Forward-Looking Statements
This press release includes forward-looking statements that reflect management’s current views of future events including statements regarding the Company’s business activities and Mr. Tibbitts’ participation on the Company’s Board of Directors. Actual results may differ materially from the forward-looking statements due to a number of important factors, including, but not limited to, whether the Company will be able to provide assurance regarding the quality of the existing L-MTP-PE data and to respond to the remaining issues with regard to the MAA, including verification of data quality and CMC items, to the satisfaction of the CHMP, whether the final opinion of the CHMP will be consistent with the non-binding opinion of the CHMP, whether the European Commission will follow the final opinion of the CHMP once issued, whether the timing for the final opinion of the CHMP and the regulatory decision in Europe will occur as expected by the Company, the possibility that additional data from the Phase 3 clinical trial of L-MTP-PE and other information in any amendment to the NDA for L-MTP-PE submitted by the Company may not provide adequate support for regulatory approval of L-MTP-PE in the United States within the timeframe expected by the Company, if at all, whether the Company will be able to manufacture and commercialize L-MTP-PE even if it is approved by regulatory authorities, and whether the cash resources of the Company will be sufficient to fund operations as planned. These and other risks affecting the Company and its drug development programs, intellectual property rights, personnel and business are more fully discussed in the Company’s Annual Report on Form 10-K filed with the SEC for the year ended December 31, 2007 and other periodic reports filed with the SEC. The Company expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.
CONTACT: Bob De Vaere, Chief Financial Officer of IDM Pharma, Inc.,
+1-949-470-6447; or Geoff Curtis of WeissComm Partners, cell,
+1-312-284-4701, gcurtis@wcpglobal.com, for IDM Pharma Inc.
Web site: http://www.idm-pharma.com/
