Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL), a clinical-stage
biopharmaceutical company pursuing novel therapeutics for
nonalcoholic steatohepatitis (NASH), today announced that Bill
Sibold has succeeded Paul Friedman, M.D., as Chief Executive
Officer (CEO) and joined Madrigal’s Board of Directors. Dr.
Friedman, who has served as Madrigal’s CEO since 2016, will
continue to serve on the Board of Directors.
Julian Baker, Chairman of the Board of Directors, stated, “On
behalf of the Board, I want to thank Dr. Paul Friedman for the
remarkable success that Madrigal has achieved during his tenure as
CEO. Paul has built an outstanding team and his many contributions
to the biopharmaceutical industry will continue to impact the lives
of patients for years to come.”
Mr. Baker continued, “Bill Sibold is an ideal leader to guide
Madrigal into its next phase of growth. His extensive experience
launching specialty medications in new therapeutic categories will
be invaluable as Madrigal transitions from a clinical
development-stage company to a fully integrated commercial
organization.”
From 2017 until joining Madrigal, Mr. Sibold served as Executive
Vice President, Specialty Care of Sanofi and President, Sanofi
North America, where he led a global organization of approximately
10,000 employees across five specialty therapeutic areas
(Immunology, Oncology, Rare Disease, Rare Blood Disorders, and
Neurology) and served as a member of the Sanofi Executive
Committee. Sanofi Specialty Care achieved sustained double-digit
growth during his tenure, becoming the company's largest Global
Business Unit. This included leading the launch of Dupixent, a
first-in-class therapy which has grown into an industry-leading
medicine. From 2015 to 2017, he served as Senior Vice President
(SVP), Global Franchise Head, Multiple Sclerosis, Oncology &
Immunology, Sanofi Genzyme. Mr. Sibold first joined Sanofi Genzyme
in 2011 as Global Franchise Head Multiple Sclerosis. Previously,
Mr. Sibold served as Chief Commercial Officer of Avanir
Pharmaceuticals, President and CEO of Lycera Corp., and SVP U.S.
Commercial for Biogen. Mr. Sibold holds a B.A. Degree in Molecular
Biophysics and Biochemistry from Yale University and an M.B.A. from
Harvard Business School.
Mr. Sibold stated, “I am excited to join Madrigal at this
pivotal moment. We have a unique opportunity to build on the
company’s legacy of scientific innovation, strengthen our
partnerships with the healthcare community, and most importantly
deliver a first-in-class, transformational therapy for patients
with NASH. It is a great honor to join a company that is taking on
a significant unmet need in medicine today, and I look forward to
working with our executive team and our employees to write the next
chapter of the Madrigal story together.”
About Madrigal Pharmaceuticals
Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a
clinical-stage biopharmaceutical company pursuing novel
therapeutics for nonalcoholic steatohepatitis (NASH), a liver
disease with high unmet medical need. Madrigal’s lead candidate,
resmetirom, is a once daily, oral, thyroid hormone receptor (THR)-β
selective agonist designed to target key underlying causes of NASH
in the liver. For more information, visit
www.madrigalpharma.com.
Forward Looking Statements
This communication includes “forward-looking statements” made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, that are based on Madrigal’s beliefs
and assumptions and on information currently available to it, but
are subject to factors beyond its control. Forward-looking
statements reflect management’s current knowledge, assumptions,
judgment and expectations regarding future performance or events.
Forward-looking statements include all statements that are not
historical facts; statements referenced by forward-looking
statement identifiers, including the examples in the paragraph
below; statements regarding the development of the Company’s
business strategies and new Chief Executive Officer, research and
development activities, and the timing and results associated with
the future development of resmetirom.
Forward-looking statements can be identified by terms such as
“accelerate,” “achieve,” “allow,” “anticipates,” “appear,” “be,”
“believes,” “can,” “confidence,” “continue,” “could,”
“demonstrates,” ”design,” “estimates,” “expectation,” “expects,”
“forecasts,” “future,” “goal,” “help,” “hopeful,” “inform,”
inform,” “intended,” “intends,” “may,” “might,” “on track,”
“planned,” “planning,” “plans,” “positions,” “potential,” “powers,”
“predicts,” ”predictive,” “projects,” “seeks,” “should,” “will,”
“will achieve,” “will be,” “would” or similar expressions and the
negatives of those terms.
Forward-looking statements are subject to a number of risks and
uncertainties. Undue reliance should not be placed on
forward-looking statements, which speak only as of the date they
are made. Madrigal undertakes no obligation to update any
forward-looking statements to reflect new information, events or
circumstances after the date they are made, or to reflect the
occurrence of unanticipated events. Please refer to Madrigal’s
submissions filed with the U.S. Securities and Exchange Commission,
or SEC, for more detailed information regarding these risks and
uncertainties and other factors that may cause actual results to
differ materially from those expressed or implied, particularly
those discussed in Part I, Item 1A of our Annual Report on Form
10-K for the year ended December 31, 2022, as amended by our Form
10-K/A filed with the SEC on March 3, 2023 and Part II, Item 1A of
our Quarterly Report on Form 10-Q for the quarter ended June 30,
2023, and as updated from time to time by Madrigal’s other filings
with the SEC.
Investor Contact Alex Howarth, Madrigal
Pharmaceuticals, Inc., IR@madrigalpharma.com
Media ContactChristopher Frates, Madrigal
Pharmaceuticals, Inc., media@madrigalpharma.com
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