Motif Bio Announces Appointment of Bruce Williams as Interim Chairman and Resignation of Richard Morgan from the Board
March 18 2019 - 3:00AM
Motif Bio plc (AIM/Nasdaq: MTFB), a clinical-stage
biopharmaceutical company specialising in developing novel
antibiotics, today announced that Richard C. E. Morgan has tendered
his resignation as Non-executive Chairman and is stepping down from
the Board of Directors, effective immediately, to focus on other
business commitments. Bruce Williams, a long-standing Board member,
has been appointed Interim Chairman. Mr. Morgan has agreed to
remain available to the Company in the coming months on an as
needed basis to ensure a smooth transition.
“On behalf of Motif Bio and the Board of
Directors, I thank Richard for his mentorship, dedicated service
and support over many years since the foundation of Motif Bio and
wish him the best in his future endeavours,” said
Graham Lumsden, Chief Executive Officer of Motif
Bio. “We are delighted that Bruce has agreed to step into
the interim Chairman role. He is a strong leader who has held
senior executive positions, particularly in strategic product
planning and commercialisation, at a number of biopharmaceutical
companies. I look forward to continuing to work with him as Motif
Bio seeks to advance iclaprim towards approval. We have submitted a
meeting request and package to the FDA and expect to work
collaboratively with the Agency over the coming weeks.”
Bruce Williams, Interim Chairman of the
Board of Motif Bio, said: “I am pleased to have the
opportunity to serve in this role. All of us on the Board have full
confidence in the management team and are convinced that the best
path forward for iclaprim will be found.”
Bruce Williams has significant operational
experience in the biopharmaceutical industry and has held senior
leadership positions at both large pharmaceutical firms and
start-up biotechs. He served as Senior Vice President, Global
Business Management at Enzon Pharmaceuticals, where he led the
company’s commercial functions. Prior to that, he was Senior Vice
President, Sales & Marketing at Genta Incorporated, where he
built and led the sales and marketing function and negotiated a
licensing and co-development/co-marketing agreement with Aventis
for the company’s lead product. He was previously Vice President of
Sales & Marketing at Celgene Corporation, where he built the
company’s commercial and distribution infrastructure to support the
launch of its first product, Thalomid (thalidomide). Earlier in his
career, Mr. Williams was Executive Director, Marketing at Ortho
Biotech (subsidiary of Johnson & Johnson), where he led the
marketing of Procrit (epoetin alfa) from pre-approval through its
first year of $1 billion in sales. In addition to Motif Bio, Mr.
Williams currently serves on the board of Afaxys Incorporated. He
also serves on the Board of Trustees of Rutgers Preparatory School
and is Treasurer and Trustee of the Independent School Chair
Association. He holds an MBA from Columbia University and a
Bachelor of Arts degree in biology from Syracuse University.
For further information please contact:
Motif Bio plc |
ir@motifbio.com |
Graham
Lumsden (Chief Executive Officer) |
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Peel Hunt LLP (NOMAD & BROKER) |
+ 44 (0)20 7418 8900 |
Dr
Christopher Golden |
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Oliver
Jackson |
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Walbrook PR Ltd. (UK FINANCIAL PR & IR) |
+44
(0)20 7933 8780 |
Paul
McManus/Helen Cresswell/Lianne Cawthorne |
motifbio@walbrookpr.com |
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MC Services AG (EUROPEAN IR) |
+49 (0)
89 210 2280 |
Raimund
Gabriel |
raimund.gabriel@mc-services.eu |
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Russo Partners (U.S. PR) |
+1
(858) 717-2310 or +1 (212) 845 4272 |
David
Schull |
david.schull@russopartnersllc.com |
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Note to Editors:
About Motif Bio
Motif Bio plc (AIM/Nasdaq: MTFB) is a
clinical-stage biopharmaceutical company focused on developing
novel antibiotics designed to be effective against serious and
life-threatening infections caused by multi-drug resistant
Gram-positive bacteria, including MRSA. The Company’s lead product
candidate is iclaprim. Motif Bio is seeking approval of iclaprim
from the U.S. Food & Drug Administration (FDA) for the
treatment of acute bacterial skin and skin structure infections
(ABSSSI). More than 3.6 million patients with ABSSSI are
hospitalised annually in the U.S. It is estimated that up to 26% of
hospitalized ABSSSI patients have renal impairment.
The Company also has plans to develop iclaprim
for hospital acquired bacterial pneumonia (HABP), including
ventilator associated bacterial pneumonia (VABP), as there is a
high unmet need for new therapies in this indication. A Phase
2 trial in patients with HABP has been successfully completed and a
Phase 3 trial is being planned. Additionally, iclaprim has been
granted orphan drug designation by the FDA for the treatment of
Staphylococcus aureus lung infections in patients with cystic
fibrosis and is in preclinical development for this indication.
Iclaprim has received Qualified Infectious
Disease Product (QIDP) designation from the FDA together with Fast
Track status for the ABSSSI indication. If approved for the ABSSSI
indication as a New Chemical Entity, iclaprim will be eligible for
10 years of market exclusivity in the U.S. from the date of first
approval, under the Generating Antibiotic Incentives Now Act (the
GAIN Act). In Europe, 10 years of market exclusivity is
anticipated. Motif is also building a patent estate to
provide additional protection for iclaprim and has two U.S. method
of use patents issued that will expire in 2037.
Forward-Looking Statements
This press release contains forward-looking
statements. Words such as “expect,” “believe,” “intend,” “plan,”
“continue,” “may,” “will,” “anticipate,” and similar expressions
are intended to identify forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other important factors that may cause Motif
Bio’s actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Motif Bio
believes that these factors include, but are not limited to, (i)
the timing, progress and the results of clinical trials for Motif
Bio’s product candidates, (ii) the timing, scope or likelihood of
regulatory filings and approvals for Motif Bio’s product
candidates, (iii) Motif Bio’s ability to successfully commercialise
its product candidates, (iv) Motif Bio’s ability to effectively
market any product candidates that receive regulatory approval, (v)
Motif Bio’s commercialisation, marketing and manufacturing
capabilities and strategy, (vi) Motif Bio’s expectation regarding
the safety and efficacy of its product candidates, (vii) the
potential clinical utility and benefits of Motif Bio’s product
candidates, (viii) Motif Bio’s ability to advance its product
candidates through various stages of development, especially
through pivotal safety and efficacy trials, (ix) Motif Bio’s
estimates regarding the potential market opportunity for its
product candidates, (x) Motif Bio’s ability to raise additional
capital to sustain its operations and pursue its strategy and (xi)
the factors discussed in the section entitled “Risk Factors” in
Motif Bio’s Annual Report on Form 20-F filed with the SEC on April
10, 2018, which is available on the SEC’s web site, www.sec.gov.
Motif Bio undertakes no obligation to update or revise any
forward-looking statements.
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