Ryan Confer Appointed Genprex President and
CEO and to its Board of Directors
AUSTIN,
Texas, May 8, 2024 /PRNewswire/ -- Genprex,
Inc. ("Genprex" or the "Company") (NASDAQ: GNPX), a
clinical-stage gene therapy company focused on developing
life-changing therapies for patients with cancer and diabetes,
today announced with great respect and sorrow the unexpected
passing last night of the Company's co-founder, President, Chairman
and Chief Executive Officer (CEO), Rodney
Varner, due to sudden complications after a courageous
battle with cancer.
Mr. Varner co-founded Genprex in 2009, and he has served on the
Company's board of directors since 2012. He has served as President
and CEO of Genprex since 2016. Under Mr. Varner's leadership,
Genprex became a publicly traded company in 2018 and has
successfully completed two Phase 1 clinical trials, opened three
additional clinical trials, expanded its intellectual property
portfolio, exclusively licensed new novel gene therapy technologies
and has received three U.S. Food and Drug Administration Fast Track
Designations and one Orphan Drug Designation.
Genprex expresses its sincere condolences to the Varner family
and to Mr. Varner's friends and colleagues. Mr. Varner will be
greatly missed by all who knew and worked with him. As a cancer
patient himself, Mr. Varner was truly committed to Genprex's
mission to help patients suffering with cancer and diabetes.
Genprex's Board of Directors issued the following statement:
"We are deeply saddened by the passing of Rodney, and we extend
our heartfelt condolences to his family, friends and colleagues.
Rodney was an excellent company leader, with a clear mission and
vision for the future of Genprex. He was dedicated and devoted to
seeing Genprex succeed in developing its gene therapies. He will be
remembered for his faithfulness and loyalty to Genprex, his
devotion to his family, his remarkable law career, his sense of
humor and love for the outdoors. We have lost a leader and a
friend."
Ryan Confer, Genprex's Chief
Financial Officer, pursuant to the Company's pre-existing
transition plan, has been appointed by the Board of Directors to
serve as President and CEO of Genprex as well as a member of the
Board of Directors, effective immediately. Mr. Confer has served in
chief level roles for a variety of early-stage companies since
2008. Mr. Confer has been a part of the Genprex team since 2011,
before he was appointed Chief Operating and Financial Officer in
2013 and Chief Financial Officer in 2016. Mr. Confer will continue
to serve as Chief Financial Officer until a successor has been
identified. The Board of Directors will continue to meet to discuss
matters related to the orderly transition and take steps to ensure
continuity of business priorities and operations for the Company,
including the initiation of a search for a permanent hire for the
Chief Financial Officer role.
About Genprex, Inc.
Genprex, Inc. is a clinical-stage
gene therapy company focused on developing life-changing therapies
for patients with cancer and diabetes. Genprex's technologies are
designed to administer disease-fighting genes to provide new
therapies for large patient populations with cancer and diabetes
who currently have limited treatment options. Genprex works with
world-class institutions and collaborators to develop drug
candidates to further its pipeline of gene therapies in order to
provide novel treatment approaches. Genprex's oncology program
utilizes its systemic, non-viral Oncoprex® Delivery System which
encapsulates the gene-expressing plasmids using lipid-based
nanoparticles in a lipoplex form. The resultant product is
administered intravenously, where it is taken up by tumor cells
that then express tumor suppressor proteins that were deficient in
the tumor. The Company's lead product candidate, Reqorsa®
Immunogene Therapy (quaratusugene ozeplasmid), is being evaluated
in three clinical trials as a treatment for NSCLC and SCLC. Each of
Genprex's three lung cancer clinical programs has received a Fast
Track Designation from the FDA for the treatment of that patient
population, and Genprex's SCLC program has received an FDA Orphan
Drug Designation. Genprex's diabetes gene therapy approach is
comprised of a novel infusion process that uses an AAV vector to
deliver Pdx1 and MafA genes directly to the pancreas. In models of
Type 1 diabetes, GPX-002 transforms alpha cells in the pancreas
into functional beta-like cells, which can produce insulin but may
be distinct enough from beta cells to evade the body's immune
system. In a similar approach, GPX-002 for Type 2 diabetes, where
autoimmunity is not at play, is believed to rejuvenate and
replenish exhausted beta cells.
Interested investors and shareholders are encouraged to sign up
for press releases and industry updates by visiting
the Company Website, registering for Email
Alerts and by following Genprex on Twitter, Facebook and
LinkedIn.
Cautionary Language Concerning Forward-Looking
Statements
Statements contained in this press release
regarding matters that are not historical facts are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are made on the basis of the current beliefs,
expectations and assumptions of management, are not guarantees of
performance and are subject to significant risks and uncertainty.
These forward-looking statements should, therefore, be considered
in light of various important factors, including those set forth in
Genprex's reports that it files from time to time with the
Securities and Exchange Commission and which you should review,
including those statements under "Item 1A – Risk Factors" in
Genprex's Annual Report on Form 10-K for the year ended
December 31, 2023.
Because forward-looking statements are subject to risks and
uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Such
statements include, but are not limited to, statements regarding:
the appointment and transition of management personnel and other
succession plan-related activities; Genprex's ability to advance
the clinical development, manufacturing and commercialization of
its product candidates in accordance with projected timelines and
specifications; the timing and success of Genprex's clinical trials
and regulatory approvals; the effect of Genprex's product
candidates, alone and in combination with other therapies, on
cancer and diabetes; Genprex's future growth and financial status,
including Genprex's ability to maintain compliance with the
continued listing requirements of The Nasdaq Capital Market and to
continue as a going concern and to obtain capital to meet its
long-term liquidity needs on acceptable terms, or at all; Genprex's
commercial and strategic partnerships, including those with its
third party vendors, suppliers and manufacturers and their ability
to successfully perform and scale up the manufacture of its product
candidates; and Genprex's intellectual property and licenses.
These forward-looking statements should not be relied upon as
predictions of future events and Genprex cannot assure you that the
events or circumstances discussed or reflected in these statements
will be achieved or will occur. If such forward-looking statements
prove to be inaccurate, the inaccuracy may be material. You should
not regard these statements as a representation or warranty by
Genprex or any other person that Genprex will achieve its
objectives and plans in any specified timeframe, or at all. You are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
Genprex disclaims any obligation to publicly update or release any
revisions to these forward-looking statements, whether as a result
of new information, future events or otherwise, after the date of
this press release or to reflect the occurrence of unanticipated
events, except as required by law.
Genprex, Inc.
(877) 774-GNPX (4679)
GNPX Investor
Relations
investors@genprex.com
GNPX Media Contact
Kalyn
Dabbs
media@genprex.com
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SOURCE Genprex, Inc.