Immunocore announces transition of Chief Financial Officer

Rhea-AI Summary

Immunocore Holdings plc (Nasdaq: IMCR) announced that its Chief Financial Officer (CFO) and Head of Strategy, Brian Di Donato, will be leaving the company at the end of 2024. Di Donato has accepted a position as CEO of a private, early-stage biotech in San Diego. He will remain in his current role through the end of the year to ensure a smooth transition, while Immunocore initiates a search for a new CFO.

CEO Bahija Jallal praised Di Donato's contributions over his four-year tenure, highlighting his role in the company's successful IPO and building a strong Finance department. Di Donato expressed pride in Immunocore's achievements, including becoming a commercial-stage biotech with the launch of the world's first TCR therapy.

Positive

• Smooth transition planned with CFO staying until end of 2024
• Strong Finance department established under departing CFO's leadership
• Successful IPO and significant capital raised during CFO's tenure
• Company achieved commercial-stage status with launch of first TCR therapy

Negative

• Loss of experienced CFO and Head of Strategy
• Potential disruption in financial leadership during transition period

Immunocore announces transition of Chief Financial Officer

(OXFORDSHIRE, England & CONSHOHOCKEN, Penn. & ROCKVILLE, Md., US, 29 August 2024) Immunocore Holdings plc (Nasdaq: IMCR) (“Immunocore” or the “Company”), a commercial-stage biotechnology company pioneering and delivering transformative immunomodulating medicines to radically improve outcomes for patients with cancer, infectious diseases and autoimmune diseases, today announced that its Chief Financial Officer (CFO) and Head of Strategy, Brian Di Donato, has informed the Company of his plans to leave at the end of the year. Mr. Di Donato has accepted the role of Chief Executive Officer at a private, early-stage biotech headquartered in San Diego, California.

Immunocore will initiate a search for a new CFO. Brian will remain as the Company’s CFO and Head of Strategy through the end of 2024, to ensure a smooth transition.

“Brian has been an invaluable member of our team for over four years, and his leadership was instrumental in the success of our IPO. He built a successful Finance department and leaves a proven team that will continue supporting the company moving forward,” said Bahija Jallal, Chief Executive Officer at Immunocore. “During his tenure, we have successfully raised significant capital to invest in our innovative platform and our rapidly growing clinical and research portfolio. I am grateful for Brian’s many contributions and wish him continued success in his next role as CEO.”

"I am proud of what we have accomplished at Immunocore and honored to have worked with such a talented team that led the Company to become a commercial-stage biotech company, with the launch of the world’s first TCR therapy," said Brian Di Donato, Chief Financial Officer at Immunocore. "It has been a privilege to be part of the company's journey, and I look forward to its continued success with the planned data readouts of the three Phase 3 clinical trials and the expansion into autoimmune diseases."

About Immunocore

Immunocore is a commercial-stage biotechnology company pioneering the development of a novel class of TCR bispecific immunotherapies called ImmTAX – Immune mobilizing monoclonal TCRs Against X disease – designed to treat a broad range of diseases, including cancer, autoimmune, and infectious disease. Leveraging its proprietary, flexible, off-the-shelf ImmTAX platform, Immunocore is developing a deep pipeline in multiple therapeutic areas, including nine active clinical and pre-clinical programs​ in oncology, infectious diseases, and autoimmune diseases. The Company’s most advanced oncology TCR therapeutic, KIMMTRAK has been approved for the treatment of HLA-A*02:01-positive adult patients with unresectable or metastatic uveal melanoma in the United States, European Union, Canada, Australia, and the United Kingdom.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “may”, “will”, “believe”, “expect”, “plan”, “anticipate” and similar expressions (as well as other words or expressions referencing future events or circumstances) are intended to identify forward-looking statements. All statements, other than statements of historical facts, included in this press release are forward-looking statements. These statements include, but are not limited to, statements regarding Immunocore’s timing and search for a new Chief Financial Officer; continued development of Immunocore’s clinical and research portfolio; and Immunocore’s expectations regarding planned data readouts of three Phase 3 clinical trials and expansion into autoimmune diseases. Any forward-looking statements are based on management’s current expectations and beliefs of future events and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially and adversely from those set forth in or implied by such forward-looking statements, many of which are beyond the Company’s control. These risks and uncertainties include, but are not limited to, the impact of worsening macroeconomic conditions on the Company’s business, financial position, strategy and anticipated milestones, including Immunocore’s ability to conduct ongoing and planned clinical trials; Immunocore’s ability to obtain a clinical supply of current or future product candidates or commercial supply of KIMMTRAK or any future approved products, including as a result of health epidemics or pandemics, war in Ukraine, the conflict between Hamas and Israel, or global geopolitical tension; Immunocore’s ability to obtain and maintain regulatory approval of its product candidates, including KIMMTRAK; Immunocore’s ability and plans in continuing to establish and expand a commercial infrastructure and to successfully launch, market and sell KIMMTRAK and any future approved products; Immunocore’s ability to successfully expand the approved indications for KIMMTRAK or obtain marketing approval for KIMMTRAK in additional geographies in the future; the delay of any current or planned clinical trials, whether due to patient enrollment delays or otherwise; Immunocore’s ability to successfully demonstrate the safety and efficacy of its product candidates and gain approval of its product candidates on a timely basis, if at all; competition with respect to market opportunities; unexpected safety or efficacy data observed during preclinical studies or clinical trials; actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials or future regulatory approval; Immunocore’s need for and ability to obtain additional funding, on favorable terms or at all, including as a result of worsening macroeconomic conditions, including changes inflation and interest rates and unfavorable general market conditions, and the impacts thereon of the war in Ukraine, the conflict between Hamas and Israel, and global geopolitical tension; Immunocore’s ability to obtain, maintain and enforce intellectual property protection for KIMMTRAK or any of its product candidates it or its collaborators are developing; and the success of Immunocore’s current and future collaborations, partnerships or licensing arrangements, including the risk that Immunocore may not realize the anticipated benefits of its collaboration with Bristol Myers Squibb. These and other risks and uncertainties are described in greater detail in the section titled "Risk Factors" in Immunocore’s filings with the Securities and Exchange Commission, including Immunocore’s most recent Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission on February 28, 2024, as well as discussions of potential risks, uncertainties, and other important factors in the Company’s subsequent filings with the SEC. All information in this press release is as of the date of the release, and the Company undertakes no duty to update this information, except as required by law.

Contact Information

Immunocore

Sébastien Desprez, Head of Communications
T: +44 (0) 7458030732
E: sebastien.desprez@immunocore.com
Follow on Twitter: @Immunocore

Investor Relations

Clayton Robertson, Head of Investor Relations
T: +1 (215) 384-4781
E: ir@immunocore.com

FAQ

When is Immunocore's (IMCR) CFO Brian Di Donato leaving the company?

Brian Di Donato will be leaving Immunocore at the end of 2024.

What position has Immunocore's (IMCR) departing CFO Brian Di Donato accepted?

Brian Di Donato has accepted the role of Chief Executive Officer at a private, early-stage biotech headquartered in San Diego, California.

What major achievements did Immunocore (IMCR) accomplish during Brian Di Donato's tenure as CFO?

During Brian Di Donato's tenure, Immunocore successfully completed its IPO, raised significant capital, became a commercial-stage biotech company, and launched the world's first TCR therapy.

How is Immunocore (IMCR) managing the transition of its CFO position?

Immunocore will initiate a search for a new CFO, while Brian Di Donato will remain in his current role through the end of 2024 to ensure a smooth transition.