SANTA ANA, Calif. – On March 29, leaders of Genelux Corp. (NASDAQ: GNLX) based in Westlake Village rang the opening bell for the Nasdaq stock market in Times Square, New York City. The ceremony, broadcast live from the Nasdaq MarketSite Tower, included company co-founder and director Dr. John Thomas who is also a board director of Small Business Development Corporation of Orange County (SBDC-OC).
Genelux is a late clinical-stage biopharmaceutical company focused on developing a pipeline of next-generation immunotherapies for individuals suffering with aggressive or difficult-to-treat solid tumors. The goal of immunotherapy is to assist the immune system in recognizing and destroying cancer cells. Two Genelux programs are advancing through clinical trials to treat ovarian and pancreatic cancers. Genelux’s lead product, Olvi-Vec, is in phase three clinical trials for treatment of ovarian cancer and aims to seek regulatory approval.
“We believe being listed on Nasdaq best positions us to progress the important work that we do,” said Genelux Corp. President and Chief Executive Officer Thomas Zindrick in his comments during the opening bell ceremony. “Olvi-Vec mounts a multi-modal attack against the tumor to overwhelm its defense mechanisms and has the potential to treat a broad spectrum of cancers and benefit the most difficult-to-treat patients. We, the now public and expanding Genelux family, are privileged to assist in the development of a drug that we believe is going to make meaningful progress in the fight against cancer.”
Genelux was incorporated more than 23 years ago. Over time, the company built its team and pushed through various challenges. On Jan. 26 this year, Genelux filed its initial public offering and saw its market capitalization and share price quadruple, “which is an incredible start,” said David Wix, Nasdaq’s vice president of listings in bell ceremony remarks. Nasdaq selects companies for the honor of ringing the exchange’s opening bell. Genelux’s market valuation performance landed it among the best biotech IPOs in the nation this year.
“Entrepreneurship is not easy. It takes a long time to get things done.” — Dr. John Thomas, SBDC-OC board director, Genelux Corp. co-founder
Left to right: Genelux Corp. board directors John Thomas, Mary Mirabelli, James L. Tyree, Thomas Zindrick, Gabriel Woodward. They are pictured at the Nasdaq exchange in New York City on March 29.
Thomas is also dean of the Zapara School of Business at La Sierra University in Riverside and holds a Ph.D. in economics and politics from Claremont Graduate University. He works with Michael Ocasio, president and chief executive officer of Small Business Development Corporation of Orange County in helping to mentor entrepreneurs through SBDC-OC under Ocasio’s leadership, and in providing educational and career experiences and opportunities for the business school’s students.
“I’m delighted and proud of Johnny’s focus and perseverance in bringing Genelux to the public market.” — Michael A. Ocasio, president and chief executive officer, Small Business Development Corporation of Orange County
SBDC-OC provides California’s capital access programs and other funding opportunities for entrepreneurs and small businesses, particularly those that are outside of the economic mainstream. Mentorship and technical assistance in filling out application forms and other guidance are also provided to fledgling business owners.
“I’ve worked with Dr. Thomas over the past 15 years -- 10 of those we’ve strategized over the future of Genelux and the many challenges of attracting institutional investment and mainstream capital markets to support its biotech mission creating new drug therapies to fight dreadful cancer diseases,” Ocasio said. “I’m delighted and proud of Johnny’s focus and perseverance in bringing Genelux to the public market.”
“It was incredibly exciting,” Thomas said about the Nasdaq opening bell ceremony. “You realize this goal has been reached after 23 years. Entrepreneurship is not easy. It takes a long time to get things done. A lot of people start companies but they don’t go all the way.”
During the first week of April, Thomas spoke to business students about his experiences helping to establish Genelux and the many years of effort that transpired which culminated in the highly successful IPO and Nasdaq bell invitation. “By hearing directly from someone within their own campus community about this experience makes this level of success seem achievable to students and inspires them to reach for their goals,” he said. “It shows students what anyone in this great country can do.”
To view the Nasdaq opening bell ceremony featuring Genelux, visit this link and watch at 22.00.
