Shield Therapeutics PLC Appointment of Chairman (8330N)
May 26 2020 - 2:01AM
UK Regulatory
TIDMSTX
RNS Number : 8330N
Shield Therapeutics PLC
26 May 2020
Shield Therapeutics plc
("Shield" or the "Group" or the "Company")
Appointment of Chairman
London, UK, 26 May 2020: Shield Therapeutics plc (LSE: STX), a
commercial stage, pharmaceutical company with a focus on addressing
iron deficiency with its lead product Feraccru (R) /Accrufer (R)
(ferric maltol), announces the appointment of Hans Peter Hasler as
non-executive Chairman of the Company with effect from the Annual
General Meeting ('AGM') on 18 June 2020.
As announced on 21 May 2020, James Karis, the Company's current
Chairman, informed the Company that he would not seek re-election
and would be stepping down at the AGM on 18 June 2020. Hans Peter
Hasler has therefore been appointed with effect from the AGM. Hans
Peter joined Shield's Board of Directors in July 2018 and has
served as Chairman of the Nomination Committee and a member of the
Audit Committee. Hans Peter has prior executive experience
including as Chief Operating Officer at both Elan Corporation and
Biogen Inc. as well as Chief Marketing Officer of Wyeth
Pharmaceuticals, Radnor, PA. He is non-executive Chairman of the
Board of HBM Healthcare Investments AG, Zug/Switzerland and a
non-executive director of Minerva Neuroscience Inc., Boston.
Hans Peter Hasler said: "I am delighted to have been appointed
as Chairman of Shield at a critical time for the Group.
Feraccru(R)/ Accrufer(R) is an excellent product with enormous
potential and I look forward to continuing to help the Group find
ways of making it available to the widest possible number of
patients and to translating that into value for shareholders. I
also look forward to working with the rest of the Board and the
management team in these endeavours."
Tim Watts, CEO of Shield Therapeutics, said: "I am very pleased
to see Hans Peter appointed as our Chairman. I have worked
increasingly closely with Hans Peter over the last two years and
value his experience and insights and the support he has given me
personally."
For further information please contact:
Shield Therapeutics plc www.shieldtherapeutics.com
Tim Watts, CEO +44 (0)20 7186 8500
Karen Chandler Smith, Investor
Relations
Nominated Adviser and Joint
Broker
Peel Hunt LLP
James Steel/Dr Christopher
Golden +44 (0)20 7418 8900
Joint Broker
finnCap Ltd
Geoff Nash/Matt Radley/Alice
Lane +44 (0)20 7220 0500
Financial PR & IR Advisor
Walbrook PR +44 (0)20 7933 8780 or shield@walbrookpr.com
+44 (0)7980 541 893 / +44 (0)7584 391
Paul McManus/Lianne Cawthorne 303
About Shield Therapeutics plc
Shield is a de-risked, commercial stage, specialty
pharmaceutical company delivering innovative pharmaceuticals to
address patients' unmet medical needs. The Company's clear purpose
is to develop products that help patients become people again,
enabling them to enjoy the things that make a difference in their
everyday lives . The Group's lead product, Feraccru (R) / Accrufer
(R) has exclusive IP rights until the mid-2030s and is approved for
the treatment of iron deficiency with or without anaemia in adults
in the European Union, the United States and Switzerland. In Europe
it is marketed as Feraccru (R) with commercialisation led by
Norgine BV and in the USA the product will be marketed as Accrufer
(R) with Shield currently in the process of selecting a
commercialisation partner. Shield also has an exclusive licence
agreement with Beijing Aosaikang Pharmaceutical Co. Ltd for the
development and commercialisation of Feraccru(R)/Accrufer(R) in
China, Hong Kong, Macau and Taiwan. For more information please
visit www.shieldtherapeutics.com
About Feraccru(R)/Accrufer(R)
Feraccru (R) /Accrufer(R) is a novel, stable, non-salt based
oral therapy for adults with iron deficiency with or without
anaemia that has been shown to be an efficacious and well-tolerated
therapy in a range of controlled phase 3 trials, and offers a
compelling alternative to IV iron for those patients unable to
tolerate salt-based oral iron therapies and wish to avoid the
complexities of infusion-based iron therapies.
When salt-based oral iron therapies are ingested they can cause
a range of mild-to-severe gastrointestinal tract (GI) adverse
events, including nausea, bloating and constipation through the
release and subsequent reactivity of free iron in the GI tract,
leading to poor tolerability, reduced patient compliance and
ultimately treatment failure. Feraccru (R) /Accrufer(R) is not an
iron salt and, as a result, it does not routinely cause the same
treatment-limiting intolerance issues of salt-based iron therapies,
whilst the iron from the ferric maltol molecule can be readily
absorbed.
Prior to Feraccru (R) /Accrufer(R) , IV iron therapies were the
only realistic alternative treatment option for iron deficient
patients with or without anaemia intolerant of or unwilling to be
treated salt-based oral iron therapies. However, use of such an
invasive, costly, inconvenient and complex to administer treatment
option, which is associated with potentially life-threatening and
spontaneous hypersensitivity reactions, means there remains a clear
unmet medical need for these patients to have access to an
effective therapy that is well tolerated, convenient and does not
require hospital-based administration. Feraccru (R) /Accrufer(R)
meets those requirements.
About Iron Deficiency
The WHO states that iron deficiency is the most common and
widespread nutritional disorder in the world. As well as affecting
a large number of women and children in non-industrialized
countries, it is the only nutrient deficiency which is also
significantly prevalent in virtually all industrialised nations.
There are no current global figures for iron deficiency but, using
anaemia as an indirect indicator, it can be estimated that most
preschool children and pregnant women in non-industrialised
countries, together with at least 30-40% in industrialized
countries, are iron deficient.
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 or visit www.rns.com.
END
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