Dynavax Technologies Corporation (NASDAQ:DVAX) has appointed Peter R. Paradiso to the Board of Directors and also announced that its SVP, CFO, and Chief Business Officer Michael Ostrach will retire in 2021.
Paradiso joins Dynavax Board
Ryan Spencer, the company’s CEO, stated that they are delighted to welcome Peter to the Board of Directors. Peter will bring more than three decades of vaccine development experience, and his strategic planning experience will help Dynavax build its lead vaccine candidate HEPLISAV-B and CpG 1018. HEPLISAV-B is an FDA-approved hepatitis B vaccine whole CpG 1018 is an advanced vaccine adjuvant.
Peter said that he was thrilled to join the Board of Directors during this time, the company is experiencing growth. He added that he was delighted with the commercial execution of the company for HEPLISAV and the huge progress it has made in developing the CpG 1018 advanced adjuvant available to partnerships with various companies in the search for treatments against infectious diseases. Peter has been working in vaccine development for more than 3o years, and he is the sole proprietor of Paradiso Biologics Consulting, and he also serves as the Coalition for Epidemic Preparedness Innovations R&D and Manufacturing Investment Committee member.
Michael Ostrach to retire
Ostrach, who is due to retire next year, said that he was grateful for the chance to serve the company and work with some of the most dedicated individuals in the last 14 years in advancing novel vaccines. He added that it is gratifying that the efforts have resulted in approval and commercialization of the two-dose adult Hepatitis B vaccine and clinical trials of several COVID-19 vaccines testing CpG 1018 adjuvant.
Spencer said that Ostrach’s skills, wide experience, and commitment to Dynavax have been vital to the company’s success. He added that he has been a leading leader, esteemed colleague, and an inspirational mentor whose contributions will be greatly missed.
As part of the transition in 2021, the company has retained the services of Russell Reynolds Associates to help in recruiting a new CFO.