REG - Shield Therapeutics - Directorate Change

Shield TherapeuticsAnnouncement

24/07/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240724:nRSX5564Xa&default-theme=true

RNS Number : 5564X  Shield Therapeutics PLC  24 July 2024

 

Shield Therapeutics plc

("Shield" or the "Company" or the "Group")

 

Directorate Change

 

London, UK, 24 July 2024:  Shield Therapeutics plc (LSE: STX), a commercial
stage pharmaceutical company that delivers ACCRUFeR®/Feraccru® (ferric
maltol), an innovative and differentiated specialty pharmaceutical product, to
address a significant unmet need for patients suffering from iron deficiency
(with or without anaemia), today announced that Greg Madison, Chief Executive
Officer, will be stepping down from the Board by mutual consent to pursue
other opportunities and will be leaving the Company with immediate effect.

 

Anders Lundstrom, one of the Company's independent non-executive Directors was
appointed interim Chief Executive Officer. Anders, who is based in Boston,
Massachusetts, has strong international and US senior commercial and general
management experience gained from a range of pharmaceutical and biotech
companies including AstraZeneca, Biogen and Orexo (where he was president and
CEO).

 

Shield's non-executive Chairman, Hans Peter Hasler, commented: "On behalf of
the Board, I would like to thank Greg for his significant contribution to the
Group including securing the partnership with Viatris and overseeing the
subsequent launch and growth of ACCRUFeR® and we wish him well with his
future endeavors. Shield has a highly experienced Board of Directors and has
had the privilege of working alongside Anders Lundstrom these past three
years. Anders brings a wealth of US commercialisation experience and we are
confident that he will lead the team to continue the success of Accrufer. I
wish him and the team every success."

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 (as it forms part of domestic law by virtue of the European
Union (Withdrawal) Act 2018). Upon the publication of this announcement via
the Regulatory Information Service, this inside information is now considered
to be in the public domain.

 

 

For further information please contact:

 

 Shield Therapeutics plc                                                                        www.shieldtherapeutics.com (http://www.shieldtherapeutics.com/)
 Anders Lundstrom                                                                               +44 (0) 191 511 8500

 Santosh Shanbhag, CFO

 Nominated Adviser and Joint Broker
 Peel Hunt LLP
 James Steel/Patrick Birkholm                                                                   +44 (0)20 7418 8900

 Joint Broker

 Cavendish Ltd

 Geoff Nash/ George Dollemore/Nigel Birks/Harriet
 Ward

                                                                                                +44 (0)20 7220 0500

 Financial PR & IR Advisor
 Walbrook PR
 Charlotte Edgar / Alice Woodings                                                               +44 (0)20 7933 8780 or shield@walbrookpr.com (mailto:shield@walbrookpr.com)

 Investor Contact (US Advisor)

 LifeSci Advisors, LLC

 Joyce Allaire                                                                                  jallaire@lifesciadvisors.com (mailto:jallaire@lifesciadvisors.com)

 

About Iron Deficiency and Accrufer®/Feraccru®

Clinically low iron levels (aka iron deficiency, ID) can cause serious health
problems for adults of all ages, across multiple therapeutic areas. Together,
ID and ID with anemia (IDA) affect about 20 million people in the US and
represent a $2.3B market opportunity. As the first and only FDA approved oral
iron to treat ID/IDA, Accrufer® has the potential to meet an important unmet
medical need for both physicians and patients.

 

Accrufer®/Feraccru® (ferric maltol) is a novel, stable, non-salt-based oral
therapy for adults with ID/IDA. The drug has a novel mechanism of absorption
compared to other oral iron therapies and has been shown to be an efficacious
and well-tolerated therapy in a range of clinical trials. More information
about Accrufer®/Feraccru®, including the product label, can be found at:
www.accrufer.com (http://www.accrufer.com) and www.feraccru.com
(http://www.feraccru.com) .

 

About Shield Therapeutics plc

Shield is a commercial stage specialty pharmaceutical company that delivers
Accrufer®/Feraccru® (ferric maltol), an innovative and differentiated
pharmaceutical product, to address a significant unmet need for patients
suffering from iron deficiency, with or without anemia. The Company has
launched Accrufer® in the U.S. with an exclusive, multi-year collaboration
agreement with Viatris. Outside of the U.S., the Company has licensed the
rights to four specialty pharmaceutical companies. Feraccru® is
commercialized in the UK and European Union by Norgine B.V., which also has
marketing rights in Australia and New Zealand. Shield also has an exclusive
license agreement with Beijing Aosaikang Pharmaceutical Co., Ltd., for the
development and commercialization of Accrufer®/ Feraccru® in China, Hong
Kong, Macau and Taiwan, with Korea Pharma Co., Ltd. for the Republic of Korea,
and with KYE Pharmaceuticals Inc. for Canada.

 

Accrufer®/Feraccru® has patent coverage until the mid-2030s.

Accrufer®/Feraccru® are registered trademarks of Shield Therapeutics.

 

Forward-Looking Statements

This press release contains forward-looking statements. All statements
contained in this press release that do not relate to matters of historical
fact should be considered forward-looking statements.  These forward-looking
statements are based on management's current expectations and include
statements related to the commercial strategy for Accrufer®/Feraccru®. These
statements are neither promises nor guarantees, but involve known and unknown
risks and uncertainties, many of which are beyond our control, that may cause
actual results and performance or achievements to be materially different from
management's expectations expressed or implied by the forward-looking
statements, including, but not limited to, risks associated with the Company's
business and results of operations, competition and other market factors.
The forward-looking statements made in this press release represent
management's expectations as of the date of this press release, and except as
required by law, the Company disclaims any obligation to update any
forward-looking statements contained in this release, even if subsequent
events cause its views to change.

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOADZGZNZFMGDZZ