GeoVax, which is pursuing development of an AIDS vaccine, will have a new chief executive officer as of April 1.
Robert McNally, a co-founder of Georgia-based CryoLife and two other life-science firms, will replace Don Hildrebrand. Hildebrand, a co-founder of GeoVax, will remain chairman of the board.
McNally is not new to the company. He has served on the GeoVax board since 2006. Earlier in his career, McNally also helped launch Cell Dynamics and Cell Design.
The change comes after a recent announcement by GeoVax (OTC BB: GOVX) of a $4.2million loss for 2007. GeoVax did secure a $15 million grant from the National Institutes of Health last fall.
"Dr. McNally is joining our team to provide additional expertise to guide our AIDS vaccine development into advanced Phase 2a human clinical trials which are being planned for mid 2008,” Hildebrand said in a statement. “His strong bio-technical, research and managerial experience at all corporate levels provides GeoVax with the depth of expertise required to move efficiently forward at an accelerated pace.”
GeoVax is conducting five human clinical trials underway.
The vaccines, based on discoveries made at Emory University, are based on DNA and MVA (modified vaccinia ankara), which are being used to boost the vaccine’s effectiveness.