Notice

Guidance Notes for Company Organizational Changes

2022-07-21

Message from the CEO

 

From its inception in 2014 to the 2021 Initial Public Offering (IPO), NeoImmuneTech has truly established itself in the United States, the center of drug discovery. NeoImmuneTech has planned fifteen clinical trials in the United States, thirteen of which have led to IND approval and are undergoing clinical development. These trials are conducted at more than seventy U.S. clinical institutions and involve more than eighty U.S. investigators. In addition, the employee count in South Korea and the United States, which was forty-five by the end of 2020, now nears ninety as of June 2022, forming an essential organization for the development of new drugs.

 

NeoImmuneTech laid its foundation for drug development, during the NIT 1.0 era—from inception to pre-IPO—for basic research, translational research, clinical trial development and planning, and approval for several ongoing 1b/2a clinical trials. Since NIT 2.0 began after the IPO, our company-wide efforts have taken a quantum leap forward to preparing accelerated approval (AA) and entering the later phases of clinical trials with the expectation of starting Phase 3 clinical trials based on Proof of Concept (PoC) validation and clinical data of the new drug candidate, NT-I7.

 

Together with our expanding R&D work and the best work force—even by global standards— our organization is changing organically in a way most conducive to accomplishing the mission of the NIT 2.0 era, and in anticipation of a more dynamic NIT 3.0 era, set to begin upon first drug approval

 

During the NIT 1.0 era, our progress was managed by just a few professionals, who paved the way for our leaps forward. But now, in the 2.0 era, the clinical and business development divisions, key players in preparing for the next phase, have introduced a shift from management by a few to management by many. In the next phase, committees—not individual managers—will discuss and set strategies.  As a result, some functions have been entrusted to the expertise of external professionals, and management roles have shifted. We will continue to recruit professionals for key functions and future strategies, as we aim to become an advanced organization that works flexibly and organically.

 

At present, with major clinical trials examining solid tumors, brain cancer, and blood cancer progressing smoothly, we plan to maximize the value of new drug development for the next generation immunotherapy, to be acknowledged by the global market, by giving our best efforts in clinical development and continuing to communicate with the market.

 

We are always grateful for your unwavering interest and encouragement, and we ask that you please continue to support us.

 

Se Hwan Yang
CEO & President
NeoImmuneTech, Inc

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