FibroGen Announces Leadership Transition
July 25 2023 - 7:00AM
FibroGen, Inc. (NASDAQ: FGEN), today announced the appointment of
Thane Wettig as the Company’s interim Chief Executive Officer
effective as of July 23, 2023. Mr. Wettig has served as FibroGen’s
Chief Commercial Officer and a key member of the senior leadership
team since June 2020. Mr. Wettig succeeds Chief Executive Officer
Enrique Conterno, who resigned due to personal reasons. To support
Mr. Wettig, Mr. Conterno will serve as a Special Advisor to the CEO
during a transition period.
“Thane has been a highly effective leader for the Company over
the last three years, and we have full confidence he will deliver
as our Interim CEO. I look forward to working closely with him as
we advance the Company’s strategic priorities,” said Jim Schoeneck,
Chairman of the FibroGen Board of Directors.
“I am energized to have the opportunity to lead FibroGen and
create value for shareholders and patients through our pamrevlumab
phase 3 readouts, advancing our innovative pipeline, and continuing
to build on our success with roxadustat in China and the nearly 30
other countries in which it is approved,” said Wettig. “We have a
strong cash position, and have built a great team at FibroGen,
including a highly experienced and collaborative leadership team. I
am grateful to have the opportunity to continue our work as we
apply groundbreaking science with the goal of helping patients
around the world.”
“I have worked with Thane for many years and am confident that
he will lead our world-class management team in continuing to
execute on our late stage pamrevlumab programs, expand our rapidly
growing roxadustat business in China and other territories, and
accelerate development of our early-stage oncology pipeline,” said
Conterno.
“On behalf of the board, I would like to thank Enrique for his
commitment to patients and to FibroGen over the past three and a
half years,” said Schoeneck. “Enrique has been key in building the
Company’s strong team and culture, enhancing the product pipeline,
and driving both late-stage clinical execution and roxadustat
commercial success in China.”
Mr. Wettig, who has served as the Company’s Chief Commercial
Officer since June 2020, has more than 30 years of global
biopharmaceutical leadership and commercial experience. Mr. Wettig
previously served as Chief Commercial Officer and Metabolic
Franchise Head at Intarcia Therapeutics. Prior to joining Intarcia
in 2018, Mr. Wettig served as Chief Marketing Officer (Vice
President of Global Marketing, Strategy and Alliance Management)
for Lilly Diabetes, leading the development and launch of multiple
blockbuster diabetes medicines during a period of unprecedented
growth of Lilly’s diabetes business. Mr. Wettig began his career at
Lilly in 1990 and served in multiple leadership roles of increasing
responsibility during his Lilly tenure. He is recognized throughout
the industry as a seasoned executive with extensive strategy, brand
building, and leadership experience. Mr. Wettig received his M.B.A.
and B.A. in biology from Washington University in St. Louis.
About FibroGen FibroGen, Inc. is a
biopharmaceutical company committed to discovering, developing, and
commercializing a pipeline of first-in-class therapeutics. The
Company applies its pioneering expertise in connective tissue
growth factor (CTGF) biology and hypoxia-inducible factor (HIF) to
advance innovative medicines for the treatment of unmet needs.
Pamrevlumab, an anti-CTGF human monoclonal antibody, is in clinical
development for the treatment of locally advanced unresectable
pancreatic cancer (LAPC), metastatic pancreatic cancer, and
ambulatory Duchenne muscular dystrophy (DMD). Roxadustat (爱瑞卓®,
EVRENZOTM) is currently approved in China, Europe, Japan, and
numerous other countries for the treatment of anemia in CKD
patients on dialysis and not on dialysis. Roxadustat is in clinical
development for chemotherapy-induced anemia (CIA) in China.
FibroGen recently expanded its research and development portfolio
to include product candidates in the immuno-oncology space along
with an exclusive license for FOR46. For more information, please
visit www.fibrogen.com.
Forward-Looking Statements This release
contains forward-looking statements regarding FibroGen’s strategy,
future plans and prospects, and the development and
commercialization of the company’s product candidates. These
forward-looking statements include, but are not limited to,
statements about FibroGen’s plans and objectives and typically are
identified by use of terms such as “may,” “will”, “should,” “on
track,” “could,” “expect,” “plan,” “anticipate,” “believe,”
“estimate,” “predict,” “potential,” “continue” and similar words,
although some forward-looking statements are expressed differently.
FibroGen’s actual results may differ materially from those
indicated in these forward-looking statements due to risks and
uncertainties related to the continued progress and timing of its
various programs, including the enrollment and results from ongoing
and potential future clinical trials, and other matters that are
described in our Annual Report on Form 10-K for the fiscal year
ended December 31, 2022 and our Quarterly Report on Form 10-Q for
the quarter ended March 31, 2023, each as filed with the Securities
and Exchange Commission (SEC), including the risk factors set forth
therein. Investors are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this release, and FibroGen undertakes no obligation to update
any forward-looking statement in this press release, except as
required by law.
Contacts: FibroGen, Inc.
Investors:Meichiel
Keenanmkeenan@fibrogen.com
Media:Michael Szumeramszumera@fibrogen.com
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