– USA, WA – CytoDyn Inc.(OTCQB:CYDY), a biotechnology company focused on the development of new therapies for combating infection with human immunodeficiency virus (HIV), today announced the appointment of Carl Dockery to its Board of Directors effective September 26, 2014. Mr. Dockery is a financial executive with over 30 years of experience as an executive in the insurance and reinsurance industry and more recently in 2006 as the founder of a registered investment advisory firm, Alpha Advisors, LLC.
Mr. Dockery’s 20-year career as an insurance executive began in 1988 as an officer and director of two related and closely held insurance companies, including serving as secretary of Crossroads Insurance Co. Ltd. of Bermuda and as vice president of Gulf Insurance Co. Ltd. of Grand Cayman. Familiar with the London reinsurance market, in the 1990s, Mr. Dockery worked at Lloyd’s and the London Underwriting Centre brokering various types of reinsurance placements. Mr. Dockery graduated from Southeastern University with a Bachelor of Arts in Humanities.
The Alpha Venture Capital investment limited partnerships managed by Mr. Dockery beneficially own approximately 9.5% of the Company’s outstanding common stock, including a recent $2 million investment.
Anthony D. Caracciolo, CytoDyn’s Chairman of the Board, stated, “We are very pleased to add Carl to our board of directors. His financial acumen and repeated demonstration of confidence as an investor is important to all shareholders, as we move forward in furthering our science and executing our long term strategy.”
Mr. Dockery commented: “I have been very impressed with CytoDyn’s lead product, PRO 140, and its potential to change the treatment paradigm for patients with HIV/AIDS. I am excited to join CytoDyn’s board of directors and have utmost confidence in CytoDyn’s leadership to handle the future of PRO 140.”
About PRO 140
PRO 140 belongs to a new class of HIV/AIDS therapeutics — viral-entry inhibitors — that are intended to protect healthy cells from viral infection. PRO 140 is a humanized monoclonal antibody directed against CCR5, a molecular portal that HIV uses to enter cells.
PRO 140 has been the subject of four Phase 1/1b and two Phase 2a clinical trials, each of which demonstrated its ability to significantly reduce HIV viral load in human test subjects, and has also been designated a “fast track” product candidate by the FDA. The PRO 140 antibody appears to be a powerful antiviral agent leading to potentially fewer side effects and less frequent dosing requirements as compared to daily drug therapies currently in use.
About CytoDyn
CytoDyn is a biotechnology company focused on developing subcutaneously delivered humanized cell-specific monoclonal antibodies (mAbs) as entry inhibitors for the treatment and prevention of Human Immunodeficiency Virus (HIV). The Company has one of the leading mAbs under development for HIV infection, PRO 140, which is a Late Stage 2 humanized mAb with demonstrated antiviral activity in man. PRO 140 blocks the HIV co-receptor CCR5 and clinical trial results thus far indicate that it does not affect the normal function of the cell. Results from Phase 1/1b and Phase 2a human clinical trials have shown that PRO 140 can significantly reduce viral burden in people infected with HIV. CytoDyn intends to continue to develop PRO 140 as a therapeutic anti-viral agent in persons infected with HIV.
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