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Cytodyn Adds Finance Veteran Carl Dockery to Board of Directors

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Biotechnology company Cytodyn, Inc. (CYDY) has appointed financial executive Carl Dockery to its Board of Directors, the company said in a statement in September.  

According to the statement, Mr. Dockery is a seasoned finance veteran with over 30 years of experience in the insurance and reinsurance industry. He began his career as an officer and director for two related and closely held insurance companies in 1988, then served as secretary of Bermuda company Crossroads Insurance Co. Ltd. and as vice president of Grand Cayman company Gulf Insurance Co. Ltd. Dockery also worked in London at Lloyd’s and the London Underwriting Centre. He is a Southeastern University alumnus with a Bachelor of Arts degree in Humanities.

Dockery currently serves as the president of investment advisory firm Alpha Advisors, LLC. As an administrator for the company, he lends his expertise in asset management, overseeing the activities of the company’s corporate and retail asset managers for account subjects and ensuring clients’ needs are met. His scope of responsibility includes devising the investment strategy for a wide range of portfolios.

“We are very pleased to add Carl to our board of directors. His financial acumen and repeated demonstration of confidence as an investor is important to all shareholders, as we move forward in furthering our science and executing our long term strategy,” said Anthony D. Caracciolo, CytoDyn's Chairman of the Board.

“I have been very impressed with CytoDyn's lead product, PRO 140, and its potential to change the treatment paradigm for patients with HIV/AIDS. I am excited to join CytoDyn's board of directors and have utmost confidence in CytoDyn's leadership to handle the future of PRO 140,” Dockery said.

Alpha Advisors own approximately 9.5% of Cytodyn's outstanding common stock, and has recently placed a $2 million investment in the company.

Cytodyn, Inc is engaged in developing drugs based on humanized cell-specific monoclonal antibodies (mAbs) for the prevention of Human Immunodeficiency Virus (HIV) replication. The company is an industry leader in mAbs and is about to commence its phase 3 clinical trial program for its lead product PRO 140, a therapeutic anti-viral agent targeted at persons infected with HIV.

PRO 140 belongs to a new class of HIV/AIDS therapeutics called viral-entry inhibtors that block the entry of HIV in health cells. It binds to CCR5, a chemokine receptor that regulates the activities of cells which HIV uses as a gateway to infect them.

Based on the results of the company’s Phase 2b treatment substitution trials, PRO 140 has the ability to suppress virologic activities in patients who have undergone four weeks of monotherapy. PRO 140 was also found to be capable of effectively suppressing viral load by eight weeks in human test subjects, which translates to a 100 percent efficacy rate.

For more information on the Cytodyn visit its website, www.cytodyn.com, or call its investor relations office, 212-564-4700. 

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

 

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