DUBLIN, Ohio--(BUSINESS WIRE)--Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) (“Navidea” or the “Company”), a company focused on the development of precision immunodiagnostic agents and immunotherapeutics, today announced the promotion of Michael Sherman Blue, M.D., FACEP to the position of Chief Medical Officer (CMO), reporting directly to the Company’s Board of Directors. Dr. Blue’s appointment aligns with the Company’s stated objectives and its Fix, Fund, Propel approach to advancing innovative technology to market.
Demonstrated Leadership, Clinical Expertise, Business Acumen
Michael Blue, M.D., FACEP’s appointment to the role of CMO, expanding his previous role as Senior Medical Director, continues Navidea’s work, supported by G2G Ventures as Executive Consultants, to ensure well-defined organizational roles, clear priorities and strong leadership to guide the Company forward. In his role, Dr. Blue’s responsibilities include product strategy and development, marketing, financial performance, and delivery of shareholder value. Dr. Blue, reporting to the Board of Directors, will oversee the delivery of Navidea’s NAV3-32 and NAV3-33 clinical trials, and the development of expert teams responsible for advancing its innovative technology to market.
“Dr. Blue’s experience in precision immunodiagnostics, immunotherapeutics and the biotech industry is important as we continue pressing the business forward,” said Dr. Jason Myers, Owner and Founder of G2G Ventures. “Since joining the Company over a decade ago, Dr. Blue has certainly gained the support and confidence of his colleagues. His understanding of the business side of innovation and driving our clinical trials, in concert with his perspective and experience working with patients, will help bring Navidea’s technology and assets to the forefront.”
Dr. Blue has served as Senior Medical Director at Navidea since 2011, continuing a decorated career of over 40 years in medicine which has included roles within emergency center care, cardiometabolic care, service within committees and community focused medical advisory positions, leadership roles within hospitals, and educational roles within multiple universities. His experience also includes having led healthcare related research for a regional venture capital firm. Dr. Blue is former Chairman of the Department of Emergency Medicine at St Ann’s Hospital, former member of the Board of Directors for the Central Ohio Trauma System, and is currently Medical Director for Cardinal Health NPHS. Dr. Blue earned a B.S. in Zoology from Miami University, where he was also Miami’s Scholar Athlete of the Year, and a Doctor of Medicine (M.D.) from the Ohio State University School of Medicine. He holds medical licenses in Ohio, California and Florida, along with ACLS Certification. Dr. Blue is a member of the American College of Emergency Physicians and a Fellow of the American Board of Emergency Medicine, where he also holds a Board Certification in Emergency Medicine (FACEP).
Dr. Blue has led or contributed to 16 clinical trials related to Lymphoseek® and concepts related to Navidea’s Manocept platform, and has published extensively in peer reviewed journals throughout his career.
“Navidea’s transformative technology holds the potential to improve lives around the world in many ways,” said Dr. Blue. “I am honored to step into the role of Chief Medical Officer, and ready to get to work so we can place our innovative solutions in the hands of those who need them most.”
About Navidea
Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) is a biopharmaceutical company focused on the development of precision immunodiagnostic agents and immunotherapeutics. Navidea is developing multiple precision-targeted products based on its Manocept platform to enhance patient care by identifying the sites and pathways of disease and enable better diagnostic accuracy, clinical decision-making, and targeted treatment. Navidea’s Manocept platform is predicated on the ability to specifically target the CD206 mannose receptor expressed on activated macrophages. The Manocept platform serves as the molecular backbone of Tc99m tilmanocept, the first product developed and commercialized by Navidea based on the platform. Navidea’s strategy is to deliver superior growth and shareholder return by bringing to market novel products and advancing the Company’s pipeline through global partnering and commercialization efforts. For more information, visit www.navidea.com.
About G2G Ventures
G2G Ventures is a Colorado-based private equity firm focused on empowering organizations to reach their full potential through investment and consulting services. Specializing in creating long-term partnerships with trusted investors and established businesses, G2G Ventures draws on strong internal balance sheet liquidity, augmented by trusted investor capital, to craft bespoke capital solutions which include private equity investment, venture capital participation, and mezzanine debt options. Beyond financial investment, G2G Ventures provides accretive consulting services to help clarify strategic goals and key performance indicators (KPIs), evolve financial processes, and enhance operational effectiveness. To learn more about how G2G Ventures is a growth partner for enduring business, connect with our team.
Forward-Looking Statements
This press 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. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Forward-looking statements include our expectations regarding pending litigation and other matters. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, among other things: our history of operating losses and uncertainty of future profitability; the final outcome of any pending litigation; our ability to successfully complete research and further development of our drug candidates; the timing, cost and uncertainty of obtaining regulatory approvals of our drug candidates; our ability to successfully commercialize our drug candidates; dependence on royalties and grant revenue; our ability to implement our growth strategy; anticipated trends in our business; our limited product line and distribution channels; advances in technologies and development of new competitive products; our ability to comply with the NYSE American continued listing standards; our ability to maintain effective internal control over financial reporting; the impact of the current coronavirus pandemic; and other risk factors detailed in our most recent Annual Report on Form 10-K and other SEC filings. You are urged to carefully review and consider the disclosures found in our SEC filings, which are available at http://www.sec.gov or at http://ir.navidea.com.
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