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 Statements
This 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 Contact
Stern IR
Julie Seidel
Tel: +1 212-698-8684
Email: SternIR-Vivoryon@sternir.com
Media Contact
Trophic Communications
Valeria Fisher
Tel: +49 175 8041816
Email: vivoryon@trophic.eu
Attachment
