Immunic Appoints Jason Tardio as Chief Operating Officer and President

Issuer: Immunic AG / Key word(s): Personnel
Immunic Appoints Jason Tardio as Chief Operating Officer and President (news
with additional features)

09.07.2024 / 12:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Immunic Appoints Jason Tardio as Chief Operating Officer and President

- Former Novartis and Biogen Executive Brings Extensive Multiple Sclerosis
Drug Commercialization Experience to Immunic -

- Werner Gladdines, Current Vice President, Program Management & Clinical
Development Operations, Promoted to Chief Development Officer -

NEW YORK, July 9, 2024 - 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 that seasoned biopharmaceutical executive, Jason Tardio, will be
joining the company as Chief Operating Officer and President, effective July
12, 2024. In the newly created role, Mr. Tardio will lead internal efforts
to prepare for the potential launch of vidofludimus calcium (IMU-838), the
company's orally available nuclear receptor related 1 (Nurr1) activator.
Jason will also work closely with Patrick Walsh, Chief Business Officer, to
prepare the company for a range of potential partnership outcomes for
vidofludimus calcium, as well as Immunic's other drug candidates.

"Jason's extensive experience, most notably related to the launch and
commercialization of successful multiple sclerosis (MS) drugs for both
Novartis and Biogen, as well as his history of significant out-licensing
transactions provide Immunic with an invaluable and proven skill as we draw
closer to completion of vidofludimus calcium's phase 3 ENSURE program,"
stated Daniel Vitt, Ph.D., Chief Executive Officer of Immunic. "Jason's
appointment reflects our commitment to both commercial and partnership
preparedness and comes at a particularly important and exciting time with
the upcoming read-out of our phase 2 CALLIPER trial in progressive MS
expected in April 2025 and the completion of our twin phase 3 ENSURE trials
in relapsing MS expected in the second quarter and the second half of 2026,
respectively. We warmly welcome him to Immunic."

Mr. Tardio added, "I am thrilled to join Immunic's very talented team and am
particularly enthusiastic about the potential to bring such a groundbreaking
and much-needed oral treatment option to patients with relapsing and also
progressive forms of MS, where patients have few options and there continues
to be a huge unmet need. With its compelling dual mechanism of action, as
well as its combined neuroprotective, anti-inflammatory, and antiviral
effects, vidofludimus calcium has the potential to meaningfully enhance
therapeutic options and also tap enormous markets. I look forward to
applying my years of experience in this indication to support the drug's
ultimate commercial success, assuming future regulatory approval."

Mr. Tardio most recently served as Chief Operating Officer of Ovid
Therapeutics Inc. since June 2021, after joining the company as Chief
Commercial Officer in November 2019. While there, he led all functions of
Ovid's commercial business, with an emphasis in transitioning the company
from a pre-commercial entity into a fully integrated and program-oriented
commercial enterprise. Previously, Mr. Tardio served as Vice President, Head
of the Multiple Sclerosis Franchise at Novartis AG from September 2018 to
November 2019, a business unit with annual revenues of more than $3 billion,
where he successfully launched MAYZENT® (siponimod)* and was responsible for
developing and managing all aspects of the U.S. commercial plan, brand P&L,
strategy development and go-to-market modeling for the Novartis MS
franchise. Before Novartis, Mr. Tardio spent nine years in positions of
increasing responsibility at Biogen Inc., where he most recently served as
General Manager, Managing Director for Biogen's Latin America South
affiliate. Earlier at Biogen, Mr. Tardio held a wide range of sales and
marketing roles, including positions in global commercial strategy, the U.S.
business unit and the international affiliates, where he played a key role
in launching both the AVONEX® PEN (interferon beta-1a)* and PLEGRIDY®
(peginterferon beta-1a)* for relapsing forms of MS. Mr. Tardio's more than
two decades of experience in the biopharmaceutical industry began at Wyeth
Pharmaceuticals Inc. and Sepracor, Inc., with various roles in sales, sales
training and marketing. He holds a Bachelor of Science from The College of
New Jersey and an MBA in Pharmaceutical Marketing from St. Joseph's
University.

The company also reported that Werner Gladdines, current Vice President,
Program Management & Clinical Development Operations, has been promoted to
Chief Development Officer. Mr. Gladdines joined Immunic in January 2021 as
Head of the IMU-838 Program. Since then, he has held positions of increasing
responsibility and was appointed Vice President, Program Management &
Clinical Development Operations in February 2023. In his new role as Chief
Development Officer, Mr. Gladdines will take over additional strategic and
operational responsibility for Immunic's overall clinical operations
functions.

* MAYZENT® is a registered trademark of Novartis AG; AVONEX® and PLEGRIDY®
are registered trademarks of Biogen

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), is currently in phase 3 and phase 2
clinical trials for the treatment of relapsing and progressive multiple
sclerosis, respectively, and has shown therapeutic activity in phase 2
clinical trials in patients suffering from relapsing-remitting multiple
sclerosis, progressive multiple sclerosis and moderate-to-severe ulcerative
colitis. Vidofludimus calcium combines neuroprotective effects, through its
mechanism as a first-in-class nuclear receptor related 1 (Nurr1) activator,
with additional anti-inflammatory and anti-viral effects, by selectively
inhibiting the enzyme dihydroorotate dehydrogenase (DHODH). IMU-856, which
targets the protein Sirtuin 6 (SIRT6), is intended to restore intestinal
barrier function and regenerate bowel epithelium, which could potentially be
applicable in numerous gastrointestinal diseases, such as celiac disease,
for which it is currently in preparations for a phase 2 clinical trial.
IMU-381, which currently is in preclinical testing, is a next generation
molecule being developed to specifically address the needs of
gastrointestinal diseases. 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 new management hires and promotions, strategy, future operations,
future financial position, future revenue, projected expenses, sufficiency
of cash, expected timing, development 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 development programs and the targeted
diseases; the potential for Immunic's development programs to safely and
effectively target diseases; preclinical and clinical data for Immunic's
development programs; the timing of current and future clinical trials and
anticipated clinical milestones; the nature, strategy and focus of the
company and further updates with respect thereto; the development and
commercial potential of any product candidates of the company; 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 and
the conflict in the Middle East on planned and ongoing 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, 2023, filed with the SEC on
February 22, 2024, 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
Vice President 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


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