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On the Heels of Raising $4M, Vaccinogen Logs $2.8M Toward New $35M Goal - CBL
By Citybizlist Staff
FREDERICK -- According to a Reg D filing with the U.S. Securities and Exchange Commission, Vaccinogen Inc. has raised $2.75 million from four investors.
This $35 million equity offering comes on the heels of last month's $4 million completed offering, also reported by Citybizlist. Frederick-based Vaccinogen is ramping up the commercial applications of its OncoVax immunotherapy, starting in Switzerland later this year. OncoVax is an active specific immunotherapy (ASI) that uses the patient's own cancer cells to block the return of colon cancer following surgery.
Principals named in the filing include founder, Chairman and CEO Michael Hanna Jr., COO Andrew Tussing and director Gregory Barnhill, a partner at Brown Advisory Securities in Baltimore . Barnhill is a member of several other boards as well, including Citybizlist.
Other directors named are John Nicolis, managing director of Australia's Optimal Fund Management; Tony Caplin, chairman of London's Urban Wimax plc; and David Hatt, chief country officer of Deutsche Bank Group in Japan.
Reg D filing: http://tinyurl.com/y8mfjoq
Also at Citybizlist, see:
Frederick-Based Vaccinogen, With Brown Advisory's Greg Barnhill on Board, Closes on $4M - CBL
Bios from Vaccinogen's Web site:
Michael Hanna Jr. - Founder, Chairman and CEO
Dr. Hanna is the founder of Vaccinogen, Inc., the discoverer and developer of OncoVAX, and a pioneer in the field of cancer vaccines.
He previously served as Chairman (Emeritus) and Chief Scientific Officer of Intracel Resources, an integrated biopharmaceutical company that developed cancer vaccines and immunotherapeutic and diagnostic products for both cancers and infectious diseases.
Dr. Hanna served as President and Chief Executive Officer of PerImmune, Inc. before it and Intracel Corp. merged in 1998. From 1985 to 1994, he was the Chief Operating Officer of Organon Teknika/Biotechnology Research Institute and Senior Vice President of Organon Teknika Corporation, a subsidiary of Akzo Nobel, N.V., The Netherlands. Prior to that, he was Director of the National Cancer Institute, Frederick Cancer Research Center (NCI-FCRC).
Dr. Hanna is the discoverer and developer of OncoVAX. He also developed and obtained FDA approval for TICE BCG for treatment of Carcinoma in Situ ("CIS") bladder cancer. This led to worldwide registration in 1991. It remains the standard of care for prophylaxis of recurrence of superficial bladder cancer and therapy of CIS.
In addition to cancer therapy research and development, Dr. Hanna has been intellectually involved in Homeland Security. He served as Chairman of the Department of Commerce Biotechnology Advisory Committee (1984-1989), established to prevent potential biological weapons of mass destruction from being obtained by threat countries and organizations. He also served on the Department of Defense Technical Working Group for Biotechnology (1988-1989). PerImmune, the company that Dr. Hanna founded, completed a Department of Defense contract to manufacture the current effective therapeutic for Botulinum toxin. This product is a therapeutic, equine, heptavalent, despeciated immunoglobulin anti-toxin.
Dr. Hanna was Chairman of the Frederick County Local Emergency Planning Committee ("LEPC") responsible for Homeland Security; threat assessment, preparedness and response for a county containing the cross-roads of Baltimore and Washington, D.C., Fort Detrick, FEMA, Camp David, and numerous other sensitive sites.
Dr. Hanna received a doctoral degree in experimental pathology and immunology from the University of Tennessee . He has over 250 publications to his credit, has 10 patents in immunotherapy and has been the recipient of numerous honors, and served on many editorial boards.
Andrew Tussing - COO
Mr. Tussing has been involved in the founding and building of businesses throughout most of his career. A co-founder of Vaccinogen, he raised the needed capital to launch Vaccinogen. Mr. Tussing has also been leading the effort of launching Vaccinogen's operations and is preparing the Company's commercialization of OncoVAX. Most recently, Mr. Tussing has been active in investment banking activities at 1st BridgeHouse Securities and as Managing Director of Growth5 a venture capital marketing strategy firm that helps companies maximize their growth potential.
Prior to that, Mr. Tussing was a co-founder of Milestone International Asset Management which developed hedge-fund-related solutions for financial advisors. He raised capital for firm operations and established key relationships for Milestone both on the customer and strategic partnership levels. Previously, Mr. Tussing served in senior roles at Pershing, a division of the Bank of New York, and Deutsche Bank's Alex. Brown division where he was Director of Strategic Development, Marketing & Sales for its Correspondent Services business.
He co- founded TM Resources, which provided strategy, management and marketing consulting services for a variety of securities brokerage firms and clearing/custody banks.
Early in his career, Mr. Tussing had the rare opportunity to help develop a completely new and autonomous business within America 's oldest investment bank - Alex. Brown Incorporated and was key to growing it to over $60 million in revenues.
Board of Directors
John Nicolis - Vice Chairman
John Nicolis is Managing Director of Optimal Fund Management, a Sydney Australia-based investment management company with over US $2.4 Billion in assets and is specializing in Asia Pacific equities. John Nicolis joined Optimal in March 2005 with a primary focus on marketing of the Optimal Funds and client service.
Mr. Nicolis has almost 20 years' experience in equity sales with Salomon Brothers (Citigroup). He has spent a considerable portion of this time working in Tokyo . More recently he was based in Melbourne as Head of Equities for Japan , Asia and Australia . This involved overall responsibility for marketing of the company's brokering services as well as operational activities including staff and compliance issues.
Mr. Nicolis holds a Bachelor of Arts majoring in Japanese and Chinese and whose interests include coaching a championship football team two years running.
Tony Caplin - Non-Executive Director
Chairman of Urban Wimax PLC and North West London Hospitals NHS Trust. Former Chairman of Panmure Gordon Plc, Disenco Plc and Gladstone Plc. He is currently the non-executive Deputy Chairman of the Board and Senior Non-Executive Independent Director of Northamber Plc. He is currently a non-executive director of Alternative Networks plc and Hand Picked Hotels Limited. He is also a Commissioner on the Public Works Loan Board.
David Hatt - Director, Chief Country Officer, Deutsche Bank Group, Japan
David Hatt joined Deutsche Securities Inc. (DSI) and was appointed President and Representative Director by the company's Board of Directors and shareholders on May 7, 2007 . In addition to his responsibilities at DSI, Mr. Hatt is also Regional CEO and Chief Country Officer for Deutsche Bank Group in Japan , with responsibility for coordinating the Group's business activities in the region.
Through to 2005, Mr. Hatt spent six years in Tokyo with Nikko Citigroup, first as co-head of equity capital markets, then rising to head capital markets across Asia in 2001 before jointly leading the company's Japanese institutional equities business. In 2004, he was appointed Co-Chief Executive, a role he held until 2005 when he was appointed joint head of investment banking at Citigroup for Australia & New Zealand.
Mr. Hatt began his career in finance in 1986 with Merrill Lynch in London . Shortly thereafter, he moved to Salomon Smith Barney ( London ) in 1987 working first in mergers & acquisitions and later in the equity capital markets businesses. Following a brief time in equity capital markets at Merrill Lynch in London , Mr. Hatt then moved to Tokyo to continue his career with Nikko Citigroup.
An Irish citizen, Mr. Hatt is a graduate of the University College , Dublin and a Fellow of the Institute of Chartered Accountants in Ireland .
Gregory Barnhill - Director
Mr. Barnhill is a partner and Board Member for Brown Advisory Securities. He was formerly Managing Director and Regional Manager, North American Equities for Deutsche Bank Securities/BT Alex. Brown/Alex. Brown & Sons, Incorporated since 1975. A graduate of Brown University with an AB, Economics, Mr. Barnhill has also completed several courses of special study at universities in France and the US including Warton School and Banque National de Paris.
Mr. Barnhill is an active board member for the following biotech companies:
Pure Bioscience - - Board member since 2001. Pure Bioscience develops technology-based bioscience products that provide non-toxic solutions to numerous global health challenges. It is publicly traded on NASDAQ under the symbol: PURE
Osiris Therapeutics - - Board member since 2006. Osiris develops and markets products to treat medical conditions in the inflammatory, orthopedic and cardiovascular areas. It is publicly traded on NASDAQ under the symbol OSIR
FLAVORX Board member since 2007- FLAVORx's system is used by pharmacists to customize the flavor of prescription and over the counter medicines.
Mr. Barnhill is also an active civic leader via board participation with the following organizations:
Maryland Business Center China (treasurer since 1999)
NASA/Goddard Space Flight Center Baltimore Incubator
Greater Baltimore Medical Center (past vice chairman)
International Youth Foundation
Ocean Race Chesapeake (Chairman)
UMBC Alex. Brown Center for Entrepreneurship (past Chairman)
Maryland Historical Society (Co-Chairman MHS 150)
St. Paul School (board of trustees)
New York Yacht Club
Faberge Arts Foundation
Tocqueville Society (co-Chairman since 2008)
Walters Art Gallery, 2000 Committee (since 1978)
Posted Mar 12, 2010
