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Idera Pharmaceuticals Provides Corporate Update

EXTON, Pa., April 10, 2019 (GLOBE NEWSWIRE) -- Idera Pharmaceuticals, Inc. (“Idera”) (IDRA), a clinical-stage biopharmaceutical company focused on the development, and ultimately the commercialization, of therapeutic drugs for both oncology and rare disease indications, today announced that Cristina Csimma, Pharm. D., M.H.P. and Michael Dougherty have been appointed to the Board of Directors, effective April 10, 2019.

“Cristina and Mike are valuable additions to our Board of Directors,” stated James Geraghty, Chairman of Idera’s Board of Directors.  “Both have had decades of experience in our industry as operators and as strategic leaders through their various board and leadership positions.  As our company continues to progress towards a commercial stage biotech, their presence and leadership will be immeasurable.”

Dr. Csimma currently serves as an independent Director of Neuralstem. Inc. and is a Board Director of T1D Exchange (non-profit-Type 1 Diabetes). She also serves on advisory boards including the Muscular Dystrophy Association Venture Philanthropy Scientific Advisory Committee; the Executive Oversight Board to the National Institutes of Health (NIH) NeuroNext Network, the Harvard and Brigham and Women’s Hospital MRCT Center External Advisory Board, and the TREAT-NMD Advisory Committee for Therapeutics (TACT).  Dr. Csimma previously served as a director on the boards of Juniper Pharma, Vtesse Pharma, was the Executive Chair of Exonics Therapeutics, and was President, founding CEO and Board Director of Cydan Inc. She also served on the NIH Blueprint Neurotherapeutics Network External Oversight Committee, was Vice President of Drug Development at Virdante Pharmaceuticals Inc., Principal at Clarus Ventures LLC and held roles of increasing responsibility in Clinical Development and Translational Research at Wyeth, Genetics Institute and Dana Farber Cancer Institute. 

Dr. Csimma holds both a Doctor of Pharmacy and a Bachelor of Science in Pharmacy from the Massachusetts College of Pharmacy and Allied Health Sciences, as well as a Master of Health Professions from Northeastern University.

Mr. Dougherty most recently served as the executive chairman of Celator Pharmaceuticals until its acquisition by Jazz Pharmaceuticals in July 2016. Previously, Mr. Dougherty was chief executive officer and a member of the board of directors of Kalidex Pharmaceuticals and Adolor Corporation. Mr. Dougherty previously served in a variety of senior positions, including chief operating officer of Genomics Collaborative, chief executive officer and member of the board of directors of Genaera Corporation, and chief financial officer at Centocor. He currently serves on the board of directors at Marinus Pharmaceuticals and Trevena, publicly traded life sciences organizations. Mr. Dougherty also served on the board of directors for Foundation Medicine, Inc., Aviragen Therapeutics, Inc., Cempra, Inc. and ViroPharma Incorporated from 2004 until its acquisition by Shire in 2014.

Mr. Dougherty received a Bachelor of Science in Accounting from Villanova University.

The company today is also announcing that Dr. Kelvin Neu of Baker Brothers Investments, is stepping down from the Board of Directors effective June 4, 2019.  Dr. Neu has served on the Idera Board of Directors since 2014.  During his time on the Board, Dr. Neu played an integral role in providing strategic and scientific guidance and played an integral role in helping shape the path that Idera is pursuing today.

“I am incredibly thankful for the time, commitment and importantly, strategic and scientific counsel that Kelvin provided to our company throughout his tenure,” stated Vincent Milano, Idera’s Chief Executive Officer. “I am certain that while no longer in a formal capacity as a member of the board of directors, our relationship with both Kelvin and the Baker Brothers Investments team will continue to remain incredibly strong as our largest shareholder.”

About Idera Pharmaceuticals
Harnessing the approach of the earliest researchers in immunotherapy and the company’s vast experience in developing proprietary immunology platforms, Idera’s lead development program is focused on priming the immune system to play a more powerful role in fighting cancer, ultimately increasing the number of people who can benefit from immunotherapy. Idera also continues to focus on the acquisition, development and ultimate commercialization of drug candidates for both oncology and rare disease indications characterized by small, well-defined patient populations with serious unmet needs. To learn more about Idera, visit www.iderapharma.com.

Forward-Looking Statements
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. All statements, other than statements of historical fact, included or incorporated in this press release, including statements regarding the company’s strategy, future operations, collaborations, cash resources, financial position, future revenues, projected costs, prospects, clinical trials, plans and objectives of management, are forward-looking statements. The words “believes,” “anticipates,” “estimates,” “plans,” “expects,” “intends,” “may,” “could,” “should,” “potential,” “likely,” “projects,” “continue,” “will,” and “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Idera cannot guarantee that it will actually achieve the plans, intentions or expectations disclosed in its forward-looking statements and you should not place undue reliance on the company’s forward-looking statements. There are a number of important factors that could cause Idera’s actual results to differ materially from those indicated or implied by its forward-looking statements, including whether the company’s cash resources will be sufficient to fund the company’s continuing operations and the further development of the company’s programs for the period anticipated; whether interim results from a clinical trial will be predictive of the final results of the trial; whether results obtained in preclinical studies and clinical trials will be indicative of the results that will be generated in future clinical trials; whether products based on the company’s technology will advance into or through the clinical trial process when anticipated or at all or warrant submission for regulatory approval; whether such products will receive approval from the U.S. Food and Drug Administration or equivalent foreign regulatory agencies; whether, if the company's products receive approval, they will be successfully distributed and marketed; whether the Company's collaborations will be successful; and such other important factors set forth under the caption “Risk Factors” in the company’s Annual Report on Form 10-K for the year ended December 31, 2018. Although Idera may elect to do so at some point in the future, the company does not assume any obligation to update any forward-looking statements and it disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Investor and Media Contact
Robert A. Doody Jr.
Sr. VP, Investor Relations
and Corporate Communications
Office: 484-348-1677
rdoody@iderapharma.com