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Immunron Chief Executive Officer Gary Jacob resigns amidst coronavirus cost-cutting

Published on: 27/03/20

The Chief Executive Officer of Immuron, Gary S. Jacob, has resigned as CEO and as a member of the Board due to restructering taking place to prepare the company for a post-coronavirus world.

In a statement, the company said it was the first move to help the “preservation of capital to allow the company to weather the current trading conditions pending strengthening of the travel market. This will involve radical cost-cutting and deferring certain research and development activities.”

Jacob took the helm of Immuron in November 2018. Previously he had served in various roles at Synergy Pharmaceuticals Inc, and was Chairman of the Board at ContraVir Pharmaceuticals.  From 1986 to 1990, Dr Jacob managed the G.D. Searle Glycobiology Group located at Oxford University.

He achieved a bachelors degree in Chemistry at the University of St. Louis and later his PhD in Biochemistry at the University of Wisconsin-Madison.

Jacob will be replaced as CEO by Jerry Kanellos, which also mean the day to day running of the company and the executive strategy will be coordinated in Australia.

Currently, the company is not experiencing any significant impact to their sales on their digestive treatment Travelan in their main Americana and Australian markets, but they want to remain proactive.

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