Vivoryon Therapeutics N.V. Announces Proposed Appointment of Dr.
Frank Weber as Chief Executive Officer
Vivoryon Therapeutics
N.V. Announces
Proposed Appointment of Dr. Frank Weber as
Chief Executive Officer
- Frank Weber, MD,
current Chief Medical Officer (CMO), promoted to Chief Executive
Officer (CEO) to lead Company through next stage of development
with focus on upcoming VIVIAD trial readout in 1Q24
- To-Date, varoglutamstat has
demonstrated potential for meaningful safety and ease of use
advantages over antibody-based therapies, continues
to show encouraging safety data at therapeutic
dose of 600 mg twice daily, a dose demonstrated to
result in nearly 90% target occupancy
- Anne Doering, CFA,
to assume newly created position of Chief Strategy & Investor
Relations Officer (CS&IRO) to bolster continued efforts to
support varoglutamstat and Vivoryon corporate goals
- Vivoryon to report
first half 2023 financial results and operational progress on
September 7, 2023
Halle (Saale) / Munich,
Germany, August 4, 2023
– Vivoryon Therapeutics N.V. (Euronext Amsterdam: VVY;
NL00150002Q7) (Vivoryon, or the
Company), a clinical stage company focused on the
discovery and development of small molecule medicines to modulate
the activity and stability of pathologically altered proteins,
announced that Frank Weber, MD, Vivoryon’s Chief Medical Officer
(CMO) will assume current CEO Dr. Ulrich Dauer's responsibilities
effective August 14, 2023. Dr. Weber has a long-standing
history with the Company, having joined Vivoryon in 2010. He has
deep knowledge of the scientific foundation of the Company and has
been integral in shaping varoglutamstat’s rigorous clinical
development strategy. Dr. Ulrich Dauer will support the Company
through the transition period in an advisory role through the end
of 2023.
“I am honored to become the next CEO of Vivoryon
and to continue to work alongside Uli and the team through this
transition period. We have developed a truly differentiated and
compelling small molecule for the treatment of Alzheimer’s disease,
and I am excited to lead this team through varoglutamstat’s late
clinical-stage development as we work tirelessly to bring this
exceptional product to patients in need. I look forward to leading
the Company through VIVIAD’s trial readout in the first quarter of
2024 as well as partnering with the broader management team and the
Board to further support Vivoryon along its future growth path.
Contrasted with currently approved products, varoglutamstat’s
convenient oral administration and promising safety profile with no
ARIAs has potential to be a transformative medicine that can
deliver extraordinary value to patients with Alzheimer’s disease
and their caregivers. As varoglutamstat approaches the final stages
of its Phase 2 development, I feel confident that the Company is
poised to become a leader in the field of Alzheimer’s disease
treatment with our novel approach,” commented Frank Weber, MD. “I
also would like to express my deep gratitude to Uli not only as the
leader of Vivoryon for many years, but also as a trusted partner
throughout my role as CMO.”
Further management changes include Anne Doering,
CFA, the Company's current Head of Investor Relations, taking on
the newly created position of CS&IRO effective August 14, 2023,
supporting Dr. Weber. Ms. Anne Doering joined Vivoryon as Head of
Investor Relations in April 2023, focusing on expanding the
Company’s investor communications and network by leveraging her
capital markets experience. In this newly created position, Ms.
Doering will lead the development and execution of portfolio and
growth strategies for the Company while remaining responsible for
investor relations activities.
“Uli’s leadership has transformed Vivoryon to
become a financially stable company with clinical and operational
success. Vivoryon has never been stronger and is well-positioned
for the future with a clear, differentiated strategy in Alzheimer’s
disease and is at the cusp of delivering extraordinary value for
patients and shareholders. It is with great pleasure that we
announce Frank’s designation as CEO. The Board has worked closely
with Frank for several years and we believe that he will be a
significant asset to the company in this new role, having been a
true partner in all aspects of Vivoryon’s business in a leadership
capacity. Given Frank’s extensive clinical development expertise
and his integral role in varoglutamstat’s clinical development
strategy, combined with his corporate strategy and financial
experience resulting from numerous successful transactions
throughout his tenure, we feel he is the natural choice to succeed
Uli. We have full confidence that he will successfully steer
Vivoryon as we approach a clinical inflection point with our
upcoming VIVIAD results in the first quarter of 2024 and we
anticipate a smooth and effective leadership transition,” commented
Dr. Erich Platzer, Chairman of the Board. “In addition, Anne’s
experience complements the new leadership team very well,
broadening the Company’s visibility in the capital markets and
supporting Frank through key inflection points with varoglutamstat.
We welcome her on board.”
Dr. Weber brings 30 years of experience in the
pharmaceutical and life science industry. He supported InterMune
(now Genentech/Roche), in particular, its launch of Esbriet in
Europe, as Global Clinical Advisor. Prior to this, he served as
Chief Medical Officer at Merck KGaA in Germany and Switzerland,
where he contributed to several marketing authorizations and market
access agreements in the EU, U.S. and Japan and also spearheaded
personalized medicine, biomarker and companion diagnostics. During
his career, he has also been involved in several M&A
transactions as well as licensing deals. Dr. Weber started his
industry career after ten years in academic clinical research and
patient care in the areas of cancer, immunology, infectiology and
maxillo-facial surgery. His past roles include management positions
in medical affairs and clinical development at American Cyanamid
(Lederle), USA and at Synthelabo (now Sanofi), France. Dr. Weber is
also a board member at Zambon Biotech SA, a Swiss-based private
company searching for innovative in-licensing projects for the
Zambon Group. Dr. Weber is a licensed physician and received his MD
in Cancer Immunology from the Medical University Cologne,
Germany.
Ms. Doering brings over 25 years of capital
markets, investment and corporate biopharmaceutical industry
experience. Prior to joining Vivoryon, Ms. Doering was Director of
Investor Relations at BioNTech and Director of Group Strategy at
Merck KGaA, where she contributed to the strategic direction of the
company. Her additional corporate experience includes R&D
finance and strategy at Merck & Co. On the investment front,
Ms. Doering helped build the Franklin European Equity Funds
franchise at Franklin Templeton, a leading global asset manager, as
portfolio manager and analyst and has spent time in venture capital
at Creathor Ventures in Germany. In addition, for several years Ms.
Doering was a healthcare equity research analyst covering
pharmaceutical companies for a number of investment banks in New
York including Bear Stearns, Credit Suisse, Bank of America and
Commerzbank, during which time she was instrumental in the team
achieving a #1 Institutional Investor ranking. Ms. Doering holds an
MBA from The Wharton School and an MA in International Studies from
The Lauder Institute, both of the University of Pennsylvania. She
is also a Chartered Financial Analyst (CFA) Charterholder.
Vivoryon will hold an Extraordinary General
Meeting (EGM) on Friday, September 15, 2023, in connection with the
appointment of Dr. Weber and Ms. Doering to the Company’s Board as
executive directors
###
About Vivoryon Therapeutics
N.V.Vivoryon is a clinical stage biotechnology company
focused on developing innovative small molecule-based medicines.
Driven by our passion for ground-breaking science and innovation,
we strive to change the lives of patients in need suffering from
severe diseases. We leverage our in-depth expertise in
understanding post-translational modifications to develop medicines
that modulate the activity and stability of proteins which are
altered in disease settings. Beyond our lead program,
varoglutamstat, which is in Phase 2 clinical development to treat
Alzheimer’s disease, we have established a solid pipeline of
orally available small molecule inhibitors for various indications
including cancer, inflammatory diseases and fibrosis.
www.vivoryon.com
Vivoryon Forward Looking
StatementsThis press release includes forward-looking
statements, including, without limitation, those regarding the
business strategy, management plans and objectives for future
operations of the Vivoryon Therapeutics N.V. (the “Company”),
estimates and projections with respect to the market for the
Company’s products and forecasts and statements as to when the
Company’s products may be available. Words such as “anticipate,”
“believe,” “estimate,” “expect,” “forecast,” “intend,” “may,”
“plan,” “project,” “predict,” “should” and “will” and similar
expressions as they relate to the Company are intended to identify
such forward-looking statements. These forward-looking statements
are not guarantees of future performance; rather they are based on
the Management’s current expectations and assumptions about future
events and trends, the economy and other future conditions. The
forward-looking statements involve a number of known and unknown
risks and uncertainties. These risks and uncertainties and other
factors could materially adversely affect the outcome and financial
effects of the plans and events described herein. Actual results,
performance or events may differ materially from those expressed or
implied in such forward-looking statements and from expectations.
As a result, no undue reliance should be placed on such
forward-looking statements. This press release does not contain
risk factors. Certain risk factors that may affect the Company’s
future financial results are discussed in the published annual
financial statements of the Company. This press release, including
any forward-looking statements, speaks only as of the date of this
press release. The Company does not assume any obligation to update
any information or forward-looking statements contained herein,
save for any information required to be disclosed by law. This
press release contains inside information within the meaning of
Regulation (EU) No 596/2014.
For more information, please contact:
Investor ContactStern IRJulie SeidelTel: +1
212-698-8684Email: SternIR-Vivoryon@sternir.com
Media ContactTrophic CommunicationsValeria
FisherTel: +49 175 8041816Email: vivoryon@trophic.eu
- 20230804_Announces Proposed Appointment of Dr. Frank Weber as
Chief Executive Officer
Vivoryon Therapeut (EU:VVY)
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