Immunic (Immunic (IMUX)) is getting a new captain as it sails into late-stage clinical waters. The biotech firm announced Wednesday that it has appointed Erik Lundgren, a veteran of Genentech and Roche, as its new CEO, effective May 22, with his official start date on June 1.
Lundgren takes over from Daniel Vitt, Ph.D., who will stay on the board and continue to oversee scientific strategy and the company's pipeline. It's a classic handoff: Vitt, the scientist, passes the baton to Lundgren, the commercial operator, just as Immunic's lead drug, vidofludimus calcium, heads into pivotal Phase 3 trials.
Lundgren's resume reads like a who's who of multiple sclerosis (MS) drug launches. He spent nearly two decades at Genentech and Roche, most recently as senior vice president of the Commercial Portfolio Organization at Genentech (part of Roche Group, Roche (RHHBY)). Before that, he ran Roche's Czech Republic business as general manager. But the highlight is his work on Ocrevus, a blockbuster MS treatment that treats both relapsing and primary progressive forms of the disease. He also worked on oncology drugs Kadcyla and Zelboraf.
Immunic is betting that Lundgren's launch experience will be invaluable as it pushes vidofludimus calcium through the ENSURE Phase 3 program for relapsing MS and a planned Phase 3 program for primary progressive MS. The company is also gearing up for regulatory filings, approval efforts, and—if all goes well—commercialization. In other words, they're preparing for the big leagues.
To sweeten the deal, Immunic's compensation committee granted Lundgren an option to purchase 1 million shares under the company's 2026 inducement equity compensation plan. That's a vote of confidence—or at least a strong incentive.
Investors seemed to like the news. Immunic shares were up 1.32% in premarket trading Wednesday, hitting $13.14. Not a moonshot, but a solid nod from the market.
