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Altimmune Appoints Mitchel Sayare as Executive Chairman of the Board, and Adds José Ochoa to Its Leadership Team as Chief Business Officer

July 10, 2018

GAITHERSBURG, Md., July 10, 2018 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq:ALT), a clinical-stage immunotherapeutics company focused on infectious disease, today announced it has appointed Mitchel Sayare, Ph.D., as Executive Chairman of the Board, effective immediately.

Dr. Sayare originally joined PharmAthene’s Board of Directors in April 2010. He became Chairman of merger partner Altimmune’s Board of Directors in January 2018. Dr. Sayare will work closely with management to effect important changes in strategic focus, financing efforts and partnering initiatives.

Relevant to these efforts, the Company is pleased to announce the hiring of José Ochoa as Chief Business Officer of Altimmune. Mr. Ochoa joined Altimmune from IDT Biologika Corporation where he served as Chief Business Officer & Head of Animal Health Americas. Prior to IDT, Mr. Ochoa spent over a decade at Emergent BioSolutions, having served as Vice President Strategic Alliances, and as Vice President, Business Development & Alliance Management, where he led mergers & acquisitions, in-licensing, corporate strategy and alliance management functions. Mr. Ochoa initially served as General Counsel at BioPort (Emergent’s predecessor) and General Counsel for East West Resources Corporation.

William Enright, CEO, added, “José brings substantial transactional experience as a veteran of the industry, and I am confident that he will successfully lead development and execution of our partnering strategy with particular regard to our key anthrax and influenza programs.”

About AltimmuneAltimmune is a clinical-stage immunotherapeutics company focused on the development of products to stimulate robust and durable immune responses for the prevention and treatment of infectious disease. NasoVAX, our influenza vaccine candidate, has unique characteristics, stimulating multiple arms of the immune system that offer the potential to stop infection and the spread of flu, while being easier to administer through an intranasal spray. NasoShield and SparVax-L are two next-generation anthrax vaccine candidates that are intended to improve protection and safety while having favorable dosage and storage requirements compared to other anthrax vaccines.

Forward-Looking Statement

Any statements made in this press release relating to future financial or business performance, conditions, plans, prospects, trends, or strategies and other financial and business matters, including without limitation, the prospects for commercializing or selling any product or drug candidates, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, when or if used in this press release, the words “may,” “could,” “should,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “predict” and similar expressions and their variants, as they relate to Altimmune, Inc. (the “Company”) may identify forward-looking statements. The Company cautions that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time. Important factors that may cause actual results to differ materially from the results discussed in the forward looking statements or historical experience include risks and uncertainties, including risks relating to: the terms of the Company’s Series B preferred stock offering and related warrants; our lack of financial resources and access to capital; realizing the benefits of the merger between Altimmune, Inc. and PharmAthene, Inc.; our ability to utilize the benefits of our tax assets and the results of a tax examination initiated by the IRS; clinical trials and the commercialization of proposed product candidates (such as marketing, regulatory, product liability, supply, competition, dependence on third parties and other risks); the regulatory approval process; dependence on intellectual property; the Company’s BARDA contract and other government programs, reimbursement and regulation. Further information on the factors and risks that could affect the Company’s business, financial conditions and results of operations are contained in the Company’s filings with the U.S. Securities and Exchange Commission, including under the heading “Risk Factors” in the Company’s annual reports on Form 10-K and quarterly reports on Form 10-Q filed with the SEC, which are available at www.sec.gov.

Altimmune ContactsBill Enright President and CEO Phone: 240-654-1450 Email: enright@altimmune.com

Ashley RobinsonLifeSci Advisors, LLC617-775-5956 arr@lifesciadvisors.com

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