Anders Lundstrom appointed CEO

Shield Therapeutics PLC

27 January 2025

 

Shield Therapeutics plc

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

Anders Lundstrom appointed CEO

London, UK, 27 January 2025: Shield Therapeutics plc (LSE: STX), a commercial stage pharmaceutical company specialising in iron deficiency, announces that Anders Lundstrom has been appointed as Chief Executive Officer (CEO) with effect from 01 February 2025.

Anders joined the Board of Shield in May 2021 and was appointed as interim Chief Executive Officer on 24 July 2024. He is based in Boston, Massachusetts and 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. Upon taking on the CEO role on a permanent basis Anders will step down from his position as Chair of the Remuneration Committee which position will be taken on by Dr. Christian Schweiger, one of the Company's non-executive Directors.

Since Anders' appointment in July, his leadership has been instrumental in driving Shield's growth and operational efficiency. Under his guidance, the Company has experienced increases in revenues and net pricing for ACCRUFeR® in the United States and fostered strengthened relationships with key partners and shareholders. These efforts have helped provide additional support to Shield's long-term strategic goals. Anders has also played a pivotal role in streamlining operations, positioning the Company for success as it works towards its goal of becoming cash flow positive by the end of 2025.

Hans Peter Hasler, Non-Executive Chairman, commented: "We are grateful for Anders' exceptional leadership over the past months and look forward to his continued contributions in his new capacity as CEO and an Executive Director. Anders' experience, insight, and dedication make him the ideal person to steer Shield towards greater success in the future. Shield remains steadfast in its mission to deliver exceptional results and meet the needs of our stakeholders. With a solid foundation in place, we are confident that the Company is exceptionally well-positioned to achieve its goals and continue to thrive in the years to come."

Anders Lundstrom, Chief Executive Officer, commented: "We have worked hard to streamline our cost base, grow ACCRUFeR® revenues, prescriptions, and average net price in H2, as we strive towards becoming cash flow positive by the end of this calendar year. I believe Shield is poised for significant growth, and I look forward to working alongside our talented team and our partner Viatris Inc., to build on the company's strong foundation. Together, we will focus on advancing our mission, delivering value for our stakeholders, and making a meaningful impact in the treatment of iron deficiency and making ACCRUFeR® the oral iron of choice."

For further information please contact:

Shield Therapeutics plc	www.shieldtherapeutics.com
Anders Lundstrom, CEO	[phone]
Santosh Shanbhag, CFO Stephanie Hicks, Investor Relations	[e-mail]
Nominated Adviser and Joint Broker
Peel Hunt LLP
James Steel / Patrick Birkholm	[phone]
Joint Broker	[phone]
Cavendish Ltd
Geoff Nash / Rory Sale / Nigel Birks / Harriet Ward
Financial PR & IR Advisor
Walbrook PR
Alice Woodings / Lianne Applegarth	[phone] or [e-mail]

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 and 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 Inc. 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.

 

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