Immunic, Inc. Strengthens Its Board of Directors with the Appointment of Richard Rudick, M.D.

Immunic, Inc. Strengthens Its Board of Directors with the Appointment of Richard Rudick, M.D. 

– Thought-Leader in Multiple Sclerosis with Decades of Experience in Academic Medicine and the Pharmaceutical Industry –

NEW YORK, April 27, 2023 – Immunic, Inc. (Nasdaq: IMUX), a biotechnology company developing a clinical pipeline of orally administered, small molecule therapies for chronic inflammatory and autoimmune diseases, today announced the appointment of Richard Rudick, M.D., a thought-leader in multiple sclerosis with decades of experience in the clinic, academia and industry, to its board of directors, effective April 26, 2023. The company also announced that Vincent Ossipow, Ph.D., will step down from the Board, effective June 28, 2023.

“We are very grateful to have Rick join us,” stated Duane Nash, M.D., J.D., M.B.A., Chairman of the Board of Directors of Immunic. “Rick has an extra-ordinary background spanning decades as a clinical expert in multiple sclerosis, clinical trialist who has overseen multiple successful pivotal studies, innovator and pharmaceutical executive. He has published extensively and been an active participant and leader in developing the current treatment landscape for multiple sclerosis. We look forward to working with him to leverage his extensive knowledge, experience and relationships, in particular, with respect to our ongoing development of vidofludimus calcium in multiple sclerosis, as well as our earlier programs.”

“On behalf of the entire Board of Directors, I would like to thank Vincent for his dedication to Immunic and his thoughtful guidance over the past seven years. We are deeply indebted to him for his invaluable contributions and offer him our best wishes in all future endeavors.”

Dr. Rudick is a Fellow of the American Academy of Neurology and served on the faculty of the Cleveland Clinic Foundation until 2014. While at the Cleveland Clinic, he was Director of the Mellen Center for Multiple Sclerosis Treatment and Research, Inaugural Chief Clinical Research Officer, Vice-Chair of the Cleveland Clinic Neuroscience Institute, and Co-Director of the city-wide Cleveland Clinical and Translational Science Collaborative. Between 2014 and 2020, Dr. Rudick served at Biogen as Director of the Value-Based Medicine Innovation Hub and Director of the Medical Evidence, Research and Innovation Unit. He has authored over 250 peer-reviewed publications in the neurology space, was Chair of the National Multiple Sclerosis Society Research Program Advisory Committee, and was a member of the Advisory Council to the National Center for Research Resources and the Director’s Council of Councils at the National Institutes of Health.

Dr. Rudick earned his medical degree from Case Western Reserve University School of Medicine, and completed clinical and research training at the University of Rochester.

About Immunic, Inc.

Immunic, Inc. (Nasdaq: IMUX) is a biotechnology company developing a clinical pipeline of orally administered, small molecule therapies for chronic inflammatory and autoimmune diseases. The company's lead development program, vidofludimus calcium (IMU-838), currently in phase 3 clinical trials for the treatment of multiple sclerosis and which has shown therapeutic activity in phase 2 clinical trials in patients suffering from relapsing-remitting multiple sclerosis and moderate-to-severe ulcerative colitis, selectively inhibits activated immune cells and shows combined anti-inflammatory, anti-viral and neuroprotective effects. IMU-856 is targeted to restore intestinal barrier function and regenerate bowel epithelium, which would be applicable in numerous gastrointestinal diseases, such as celiac disease, where it is currently being evaluated in a clinical proof-of-concept trial. For further information, please visit: www.imux.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains "forward-looking statements" that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations, future financial position, future revenue, projected expenses, sufficiency of cash, expected development, timing and results of clinical trials, prospects, plans and objectives of management are forward-looking statements. Examples of such statements include, but are not limited to, statements relating to Immunic’s three development programs and the targeted diseases; the potential for Immunic’s development programs to safely and effectively target diseases; the nature, strategy and focus of the company and further updates with respect thereto; expectations regarding the capitalization, resources and ownership structure of the company; and the executive and board structure of the company. Immunic may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in the forward-looking statements and you should not place undue reliance on these forward-looking statements. Such statements are based on management's current expectations and involve substantial risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, the COVID-19 pandemic, increasing inflation, impacts of the Ukraine – Russia conflict on clinical trials, risks and uncertainties associated with the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations, the availability of sufficient financial and other resources to meet business objectives and operational requirements, the fact that the results of earlier preclinical studies and clinical trials may not be predictive of future clinical trial results, the protection and market exclusivity provided by Immunic's intellectual property, risks related to the drug development and the regulatory approval process and the impact of competitive products and technological changes. A further list and descriptions of these risks, uncertainties and other factors can be found in the section captioned "Risk Factors," in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the SEC on February 23, 2023, and in the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov or ir.imux.com/sec-filings. Any forward-looking statement made in this release speaks only as of the date of this release. Immunic disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances that exist after the date on which they were made. Immunic expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this press release.

Contact Information

Immunic, Inc.
Jessica Breu
Head of Investor Relations and Communications
+49 89 2080 477 09
jessica.breu@imux.com

US IR Contact
Rx Communications Group
Paula Schwartz
+1 917 633 7790
immunic@rxir.com

US Media Contact
KOGS Communication
Edna Kaplan
+1 617 974 8659
kaplan@kogspr.com