Appointment of new Chief Executive Officer

RNS Number : 1064A

Shield Therapeutics PLC

28 May 2021

 

Shield Therapeutics plc

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

Appointment of new Chief Executive Officer with extensive US commercialisation experience

London, UK, 28 May 2021: Shield Therapeutics plc (LSE: STX), a commercial stage pharmaceutical company with a focus on addressing iron deficiency with its lead product Feraccru®/Accrufer® (ferric maltol), announces that Greg Madison has been appointed as Chief Executive Officer (CEO) with effect from Tuesday, 1 June 2021.  Greg has an excellent commercialisation track record and, in particular, he has deep knowledge and previous experience in the US iron deficiency marketplace.

Greg is a seasoned executive who brings strong operating experience and a track record of success leading small to medium size organisations.  Prior to joining Shield, he was Chief Executive Officer at Melt Pharmaceuticals in Boston, MA, a company developing a sublingual formulation of midazolam and ketamine, providing needle and opioid-free procedural sedation and analgesia. Prior to Melt Pharmaceuticals, he was Chief Executive Officer of Keryx Biopharmaceuticals from 2015 to 2018, where he led the transformation of the organisation from development stage to commercial stage focused on Auryxia, an oral product for the treatment of hyperphosphatemia and iron deficiency anaemia, and ultimately leading to a merger with Akebia Therapeutics. In 2013 and 2014, he was Chief Commercial Officer at AMAG Pharmaceuticals where he was closely involved with Feraheme, a leading intravenous product for the treatment of iron deficiency. From 2000-2012, Greg was at Genzyme Corporation, ultimately serving as Vice President and General Manager of its Nephrology Division, where he led a division that had revenues in excess of $1 billion dollars, led by the world's leading phosphate binder, Renvela. Greg began his career as a sales representative for Janssen Pharmaceuticals, a division of Johnson and Johnson.

Greg will be appointed as a Director of the Company during June 2021 prior to which relevant Aim Rules disclosures will be made via a separate announcement.

Tim Watts, Shield's current CEO, will step down as CEO on 1 June 2021 but will remain with the Group as an executive Director until 30 September 2021 to ensure an effective transition at which point he will also step down from the Board. 

Hans Peter Hasler, Shield's Chairman said: "I am delighted that Greg will be joining Shield.  He brings highly relevant operating experience in growing and leading organisations, as well as deep knowledge in iron deficiency which will be invaluable as we launch and grow Accrufer ®  in the US and extend the commercialisation of Feraccru®/Accrufer® in other parts of the world. I welcome Greg to Shield and wish him every success. I would also like to thank Tim for his substantial contribution to Shield over the last three years, first as CFO and then as CEO since April 2020.  He has played a crucial role in bringing Shield to the point at which Accrufer® can be launched in the US." 

Greg Madison commented: "I am excited to be joining Shield Therapeutics at this point in the Company's evolution, as we are undertaking final preparations for the launch of Accrufer ® in the US, and look to accelerate our growth in Europe. Iron deficiency anemia is a significant challenge for patients worldwide, and an oral option like Accrufer®  that can deliver significant increases in hemoglobin while being well tolerated by patients, provides clinicians and patients a potentially valuable and needed option. I look forward to working with the current team across all of our initiatives."

For further information, please contact:

Shield Therapeutics plc	[phone]
Tim Watts (CEO) Lucy Huntington-Bailey (General Counsel)
Peel Hunt LLP - Nominated Adviser & Joint Broker			[phone]
James Steel / Christopher Golden
finnCap Ltd - Joint Broker	[phone]
Geoff Nash / Alice Lane / George Dollemore
Walbrook PR - Financial PR & IR Adviser		[phone]
Paul McManus / Lianne Cawthorne	or [e-mail]

About Shield

Shield is a commercial stage, pharmaceutical company with a focus on addressing iron deficiency with its lead product Feraccru ® /Accrufer ® (ferric maltol), a novel, stable, non-salt based oral therapy for adults with iron deficiency with or without anaemia.

Shield's lead product, Feraccru®/Accrufer®, has been approved for use in the United States, European Union, UK and Switzerland and has exclusive IP rights until the mid-2030s. The Group plans to launch Accrufer® in the US during 2021 through a highly experienced sales and marketing team. Feraccru® is already being commercialised in the UK and European Union by Norgine B.V., who also have the marketing rights in Australia and New Zealand. Shield also has an exclusive licence agreement with Beijing Aosaikang Pharmaceutical Co., Ltd., for the development and commercialisation of Feraccru®/Accrufer® in China, Hong Kong, Macau and Taiwan. 

For more information, please visit  www.shieldtherapeutics.com . Follow Shield on Twitter @ShieldTx

 

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