PDS Biotechnology Appoints Seasoned Business Development Executive Sanjay Zaveri as Senior Vice President, Business Development
FLORHAM PARK, N.J., May 18, 2022 (GLOBE NEWSWIRE) -- PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company developing a growing pipeline of molecularly targeted cancer immunotherapies and infectious disease vaccines based on the Company’s proprietary Versamune® and Infectimune™ T-cell activating technologies, today announced that Sanjay Zaveri has joined PDS Biotech as Senior Vice President, Business Development. Mr. Zaveri has extensive partnering experience having completed licenses and acquisitions between leading biotechnology and pharmaceutical companies. As PDS Biotech’s Senior Vice President of Business Development, he is responsible for business strategy, and managing the Company’s potential licensing and partnering opportunities in support of PDS Biotech’s pipeline. Prior to joining PDS Biotech he held the position of Head of Business Development and Corporate Strategy at Strongbridge Biopharma, leading their business development, licensing and partnership strategy prior to its acquisition by Xeris Pharmaceuticals. Before Strongbridge, he held biotechnology consulting positions with Guidehouse, formerly Navigant Consulting, and IQVIA. Mr. Zaveri holds a Bachelor of Science in Pharmacy from Massachusetts College of Pharmacy and a Master of Business Administration from the University of Minnesota, Carlson School of Management.
“We are pleased to have Sanjay join the PDS Biotech management team. He brings a great depth of experience successfully conducting business development in the life science industry,” said PDS Biotech Chief Executive Officer, Frank Bedu-Addo. “As we demonstrate proof-of-concept for PDS0101 and our Versamune® and Infectimune™ platforms, Sanjay’s proven ability to execute a sound business development strategy will be an asset to PDS Biotech.”
Additionally, PDS Biotech granted Mr. Zaveri nonstatutory stock options to purchase 150,000 shares of PDS’s common stock as a material inducement to his employment with PDS Biotech in accordance with Nasdaq Listing Rule 5635(c)(4) and PDS Biotech’s 2019 Inducement Plan, as amended. PDS Biotech’s 2019 Inducement Plan, as amended, provides for the granting of equity awards to new employees of PDS Biotech. The stock option award has an exercise price of $5.35, the closing price of PDS Biotech’s common stock on May 17, 2022. The option award vests over a four-year period, with one-quarter of the shares vesting on the first anniversary of the grant date (May 17, 2023) and then monthly over the following 36 months, subject to continued employment with the company through the applicable vesting dates.
Our Infectimune™ -based vaccines have demonstrated the potential to induce not only robust and durable neutralizing antibody responses, but also powerful T-cell responses including long-lasting memory T-cell responses. To learn more, please visit www.pdsbiotech.com or follow us on Twitter at @PDSBiotech.
Forward Looking Statements
Versamune® is a registered trademark and Infectimune™ is a trademark of PDS Biotechnology.