ADOCIA Announces the Appointment of Olivier Soula as Chief Executive Officer
15 Maio 2023 - 1:00PM
Business Wire
- Gérard Soula is reappointed as Chairman of the Board of
Directors
- Olivier Soula's primary near-term objective is to sign a
partnership on M1Pram and renegotiate agreements with Company’s
main lenders.
Regulatory News:
Adocia (Euronext Paris: FR0011184241 – ADOC), a clinical-stage
biopharmaceutical Company focused on the research and development
of innovative therapeutic solutions for the treatment of diabetes
and other metabolic diseases, announced today the appointment of
Olivier Soula as Chief Executive Officer of Adocia, by decision of
the Board of Directors which met on May 11, 2023, in Paris. Olivier
Soula succeeds Gérard Soula, whose term as Chairman of the Board of
Directors was renewed.
"I am extremely honored to be appointed as the new CEO and
confident in our talented and committed team to lead Adocia to
success", says Olivier Soula, "My priorities in the short term are
to conclude a partnership on M1Pram and to finalize negotiations
with our main lenders in order to fully demonstrate the value
potential of the Company."
Olivier Soula holds a PhD in Polymer Physico-Chemistry and an
MBA. During the 8 years spent at Flamel Technologies, where he was
Director of Research, he successfully led the development of
Medusa, a sustained release platform for therapeutic proteins which
was partnered with Bristol Myers Squibb (BMS).
In 2005, Olivier founded Adocia with his father, Gérard Soula,
and his brother, Rémi Soula. Olivier has held the position of
Director of Research and Development and then Deputy Chief
Executive Officer since 2012. He was instrumental in the signing of
4 major partnerships which represented more than 150 million
dollars of revenue with Eli Lilly and with Tonghua Dongbao. BC
Lispro and BC Combo programs represent a potential $80 million in
milestone payments anticipated to be received over the next 4 years
in addition to future double-digit royalties.
Olivier is co-author of more than 40 patents on protein delivery
and has worked for more than 20 years in the field of innovative
insulin formulations.
Gérard Soula, renewed in his role of Chairman of the Board of
Directors of Adocia, comments: "I am particularly pleased to hand
over the position of Chief Executive Officer to Olivier. All his
actions during his 17 years with Adocia have demonstrated his
ability to develop and license innovative products for large
markets and to build a team remarkable for its excellence. I would
like to thank the members of the Board of Directors for the
confidence they have placed in me by reappointing me as Chairman. I
will continue to support the management team to contribute to the
success of the Company in which I firmly believe.”
The Board of Directors thanks Gérard Soula for his exceptional
contribution as CEO since the inception of the company and renews
its confidence in him by entrusting him with the mission of
participating in the conclusion of strategic partnerships.
About Adocia
Adocia is a biotechnology Company specializing in the discovery
and development of therapeutic solutions in the field of metabolic
diseases, primarily diabetes and obesity.
The Company has a broad portfolio of drug candidates based on
four proprietary technology platforms:
1) The BioChaperone® technology for the development of new
generation insulins and products combining insulins with other
classes of hormones; 2) AdOral®, an oral peptide delivery
technology; 3) AdoShell®, an immunoprotective biomaterial for cell
transplantation, with a first application in pancreatic cells
transplantation; 4) AdoGel®, a long-acting drug delivery
platform.
Adocia holds more than 25 patent families. Based in Lyon, the
Company has about 100 employees. Adocia is listed on the regulated
market of EuronextTM Paris (Euronext: ADOC; ISIN:
FR0011184241).
Disclaimer
This press release contains certain forward-looking statements
concerning Adocia and its business. Such forward-looking statements
are based on assumptions that Adocia considers as being reasonable.
However, there can be no guarantee that the estimates contained in
such forward-looking statements will be achieved, as such estimates
are subject to numerous risks including those which are set forth
in the “Risk Factors” section of the universal registration
document that was filed with the French Autorité des marchés
financiers on April 26, 2023 (a copy of which is available at
www.adocia.com), in particular uncertainties that are linked to
research and development, future clinical data, analyses, and the
evolution of the economic context, the financial markets and the
markets in which Adocia operates. The forward-looking statements
contained in this press release are also subject to risks not yet
known to Adocia or not considered as material by Adocia as of this
day. The occurrence of all or part of such risks could cause that
actual results, financial conditions, performances, or achievements
of Adocia be materially different from those mentioned in the
forward-looking statements. This press release and the information
contained herein do not constitute an offer to sell or the
solicitation of an offer to buy Adocia’s shares in any
jurisdiction.
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Adocia
Olivier Soula CEO contactinvestisseurs@adocia.com Tel :
+33 4 72 610 610 www.adocia.com
Adocia Press and Investors Relations
Ulysse Communication Pierre-Louis Germain Margaux
Puech Pays d’Alissac Bruno Arabian +33 (0)6 64 79 97 51
adocia@ulysse-communication.com
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