Genelux Corporation Announces New Chief Financial Officer

By: Genelux Corporation via GlobeNewswire

August 28, 2023 at 07:00 AM EDT

WESTLAKE VILLAGE, Calif., Aug. 28, 2023 (GLOBE NEWSWIRE) -- Genelux Corporation (NASDAQ: GNLX), a late clinical-stage immuno-oncology company, today announced that Lourie S. Zak will join the company as Chief Financial Officer, effective August 28, 2023.

"I am excited to welcome Lourie to Genelux as our new Chief Financial Officer," said Thomas Zindrick, President, Chairman and CEO of Genelux. "Lourie’s extensive experience in finance and healthcare advisory will be incredibly helpful as we continue to grow the company. I am confident in her knowledge, experience and passion for our patient population and she will be a great addition to the Genelux family."

Ms. Zak will join Genelux with an extensive background in CFO roles, including Guitar Center Brands, Sonifi Solutions, and PBS Biotech. Ms. Zak started her biotech career at Amgen where she progressively moved into more senior positions, including Executive Director Finance, Global Commercial Operations. Ms. Zak brings years of accounting and financial management expertise to her role at Genelux as the company continues to execute its operating plan, which includes building a commercially ready team and supporting the potential launch of Olvi-Vec.

“Genelux holds remarkable promise for expansion across a variety of oncology indications through its product Olvi-Vec, currently in a Phase 3 pivotal trial," said Ms. Zak. "I look forward to collaborating with the skilled management team and board of directors to discover avenues for company growth, all the while overseeing expenditures and investigating potential funding possibilities. I am excited to join and have strong confidence in Genelux's promising future ahead."

Doug Samuelson, who played an important role as the Company’s Chief Financial Officer during its IPO earlier this year, is set to resume his position as Vice President of Finance.

About Genelux Corporation
Genelux is a late clinical-stage biopharmaceutical company focused on developing a pipeline of next-generation oncolytic immunotherapies for patients suffering from aggressive and/or difficult-to-treat solid tumor types. The Company's most advanced product candidate, Olvi-Vec (olvimulogene nanivacirepvec), is a proprietary, modified strain of the vaccinia virus. Olvi-Vec currently is being evaluated in OnPrime/GOG-3076, a multi-center, randomized, open-label Phase 3 registrational trial evaluating the efficacy and safety of Olvi-Vec in combination with platinum-doublet + bevacizumab compared to platinum-doublet + bevacizumab in patients with platinum-resistant/refractory ovarian cancer. The core of Genelux' discovery and development efforts revolves around the company's proprietary CHOICE™ platform from which the Company has developed an extensive library of isolated and engineered oncolytic vaccinia virus immunotherapeutic product candidates, including Olvi-Vec. For more information, please visit www.genelux.com and follow us on Twitter @Genelux_Corp and on LinkedIn.

Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “believes,” “anticipates,” “expect,” “may,” “plan” or “will”. Forward-looking statements in this release include, but are not limited to, statements related to the potential contributions that will be made by the Company’s team members, including Ms. Zak, whether the Company will successfully execute its operating plan, including building a commercially ready team and supporting the launch of Olvi-Vec, and whether the Company will expand across various oncology sectors through its product Olvi-Vec. Such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements. These and other risks are identified under the caption “Risk Factors” in Genelux’ filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Genelux does not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.

Investor and Media Contacts

Ankit Bhargava, MD
Allele Communications, LLC
genelux@allelecomms.com