Genelux Corporation Announces Appointment of Eric Groen as General Counsel, Corporate Secretary, Chief Compliance Officer and Head of Business Development

Rhea-AI Summary

Genelux Corporation (NASDAQ: GNLX), a late clinical-stage immuno-oncology company, has appointed Eric Groen as General Counsel, Corporate Secretary, Chief Compliance Officer and Head of Business Development, effective July 1, 2025.

Groen brings over 20 years of experience in the life sciences industry, notably serving at Rani Therapeutics and Amgen, where he played a key role in the $10 billion Onyx Pharmaceuticals acquisition. As part of his appointment, Groen received an inducement award of 270,000 stock options at $2.83 per share, vesting over four years.

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• Significant stock-based compensation package may lead to future dilution

WESTLAKE VILLAGE, Calif., July 07, 2025 (GLOBE NEWSWIRE) -- Genelux Corporation (NASDAQ: GNLX), a late clinical-stage immuno-oncology company, today announced the appointment of Eric Groen as General Counsel, Corporate Secretary, Chief Compliance Officer and Head of Business Development, effective July 1, 2025.

"We are delighted to welcome Eric to the executive team,” said Thomas Zindrick, President, CEO, and Chairman of the Board. “Eric brings a powerful blend of legal expertise, global business development savvy, and a strategic understanding of the biotechnology ecosystem. His proven ability to lead high-impact transactions, build trusted partnerships, and navigate complex regulatory environments will be invaluable in shaping our next phase of growth.”

Mr. Groen is an accomplished executive who has over two decades of leadership in the life sciences industry, driving results, empowering teams, and shaping positive corporate culture. Recognized as a strategic yet hands-on executive, he is passionate about advancing innovation to improve patient outcomes and is eager to help Genelux realize the full potential of Olvi-Vec for patients, shareholders, and employees.

Most recently, Mr. Groen served as General Counsel of Rani Therapeutics, a clinical-stage, publicly traded biotech company. Previously, he spent 20 years in the legal department at Amgen with a proven track record in business development transactions such as Amgen’s $10 billion acquisition of Onyx Pharmaceuticals. Mr. Groen offers deep expertise across corporate law, mergers and acquisitions, licensing, compliance, and business development. He graduated from Harvard Law School with his J.D. and from the University of California, Santa Barbara with a B.A. in Political Science.

“I’m honored to join Genelux at such a pivotal time,” said Mr. Groen. “This is a company with a compelling vision, exciting science, and a clear path to impact. I look forward to working alongside this talented team to help drive strategic growth, expand our collaborations and regional partnerships, and bring Olvi-Vec to patients who are urgently waiting for new options.”

In connection with his appointment, Mr. Groen was granted an inducement award of a stock option to purchase 270,000 shares of common stock under Genelux’s 2023 Inducement Plan in accordance with Nasdaq Listing Rule 5635(c)(4), at an exercise price of $2.83 per share. The inducement award will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the vesting commencement date and the balance of the underlying shares vesting monthly thereafter over 36 months, subject to Mr. Groen’s continued service relationship with the company through the applicable vesting dates.

About Genelux Corporation
Genelux is a late-stage clinical biopharmaceutical company focused on developing a pipeline of next-generation oncolytic immunotherapies for patients suffering from aggressive and/or difficult-to-treat solid tumor types. Genelux’s most advanced product candidate, Olvi-Vec (olvimulogene nanivacirepvec), is a proprietary, modified strain of the vaccinia virus. Olvi-Vec currently is being evaluated in OnPrime/GOG-3076, a multi-center, randomized, open-label Phase 3 registrational trial evaluating the efficacy and safety of Olvi-Vec in combination platinum-doublet + bevacizumab compared with physician's choice of chemotherapy and bevacizumab in patients with platinum-resistant/refractory ovarian cancer. The core of Genelux's discovery and development efforts revolves around its proprietary CHOICE™ platform from which the company has developed an extensive library of isolated and engineered oncolytic vaccinia virus immunotherapeutic product candidates, including Olvi-Vec. For more information, please visit www.genelux.com and follow us on Twitter @Genelux_Corp and on LinkedIn.

Forward-Looking Statements
This 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, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “believes,” “anticipates,” “expect,” “may,” “plan,” “look forward” or “will”. Forward-looking statements in this release include, but are not limited to, statements related to Mr. Groen’s expected contribution to Genelux, Olvi-Vec’s development plans and the realization of Olvi-Vec’s full potential. Such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements. These and other risks are identified under the caption “Risk Factors” in Genelux’s filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Genelux does not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.

Investor and Media Contacts

Ankit Bhargava, MD
Allele Communications, LLC
genelux@allelecomms.com

Source: Genelux Corporation

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2bf2ab49-f6f8-46c1-a77b-db6f7c7b1d2c

FAQ

Who is the new General Counsel of Genelux (NASDAQ:GNLX)?

Eric Groen was appointed as General Counsel, Corporate Secretary, Chief Compliance Officer and Head of Business Development of Genelux, effective July 1, 2025.

What is Eric Groen's experience before joining Genelux (NASDAQ:GNLX)?

Groen previously served as General Counsel at Rani Therapeutics and spent 20 years at Amgen, where he was involved in significant transactions including the $10 billion Onyx Pharmaceuticals acquisition.

What compensation package did Genelux (NASDAQ:GNLX) offer to Eric Groen?

Groen received an inducement award of 270,000 stock options at $2.83 per share, vesting over four years with 25% vesting after one year and the remainder monthly over 36 months.

What are Eric Groen's responsibilities at Genelux (NASDAQ:GNLX)?

Groen serves as General Counsel, Corporate Secretary, Chief Compliance Officer and Head of Business Development, responsible for legal affairs, compliance, and strategic business development initiatives.

What is Genelux's (NASDAQ:GNLX) main product focus?

Genelux is developing Olvi-Vec, though specific details about this product are not provided in the announcement.