LOS ANGELES, Aug. 14, 2024 /PRNewswire/ -- ImmPACT Bio USA Inc. (ImmPACT Bio), a clinical-stage biopharmaceutical company developing a new generation of cellular therapies that have the potential to bring transformational benefits to patients, today announced the appointment of Ian Somaiya to its board of directors. Mr. Somaiya, currently chief financial officer (CFO) of NewAmsterdam Pharma Company N.V., brings more than 25 years of financial and operational leadership, including more than two decades on Wall Street as a prominent biotechnology research analyst.

"Ian is an experienced executive with a deep understanding of the industry landscape and expertise in corporate strategy, financial planning and fundraising," said Sumant Ramachandra, M.D., Ph.D., chief executive officer of ImmPACT Bio. "We are pleased to welcome him to our board of directors where his guidance will be important as we continue to scale the company."

Mr. Somaiya added, "ImmPACT Bio has the potential to make a transformative difference in the treatment of multiple cancers and autoimmune diseases with their innovative bispecific CAR T-cell therapies. I look forward to joining ImmPACT Bio's board and partnering with the team as they further advance their clinical programs with several anticipated data readouts."

Mr. Somaiya has held executive leadership positions, including CFO and chief business officer of Elucida Oncology, where he led fundraising and corporate strategy and, before that, as CFO of TCR2 Therapeutics, where he guided the company through its initial public offering and two subsequent follow-on offerings. Throughout his 20-year tenure on Wall Street, Mr. Somaiya was a highly esteemed equity analyst who conducted extensive research on more than 100 biotechnology companies across diverse therapeutic areas, technology platforms, and stages of development. He served as a managing director and head of biotechnology research at BMO Capital Markets and as managing director and equity analyst at Nomura Securities, Piper Jaffray, and Thomas Weisel Partners. He launched his Wall Street career as a research analyst at Morgan Stanley and Prudential Securities and was recognized for several consecutive years as the "Best on the Street" by The Wall Street Journal for his biotechnology coverage. Mr. Somaiya received a B.A. in biology and neuroscience from New York University.

About ImmPACT Bio
ImmPACT Bio USA, Inc., is a clinical-stage biopharmaceutical company developing a new generation of cellular therapies that have the potential to bring transformational benefits to patients. The company's logic-gate-based chimeric antigen receptor (CAR) T-cell therapies, licensed from University of California, Los Angeles (UCLA) Technology Development Group, are specifically designed to address antigen escape, reduce toxicity, overcome immunosupression in the tumor microenvironment, and improve cell persistence. The company's technology is based on the work of pioneering scientists, Yvonne Chen, Ph.D., and Antoni Ribas, M.D., Ph.D., both from UCLA. For more information, visit .

SOURCE ImmPACT Bio USA Inc.