Patrik De Haes M.D. becomes Non-executive Chairman
Leuven, BE and Boston, MA, US – May 17, 2021 – 7:30 AM CET – Oxurion NV (Euronext Brussels: OXUR), a biopharmaceutical company developing next generation standard of care ophthalmic therapies, with a clinical stage portfolio in retinal vascular disorders, announces in a planned succession, the promotion of Tom Graney, CFA from Chief Financial Officer (CFO) to Chief Executive Officer (CEO) of the company. He takes over from Dr. Patrik De Haes, who after 14 years as CEO, has decided to move away from day-to-day management of the company to become the Non-executive Chairman of Oxurion. Thomas Clay, the outgoing Chairman of Oxurion, will remain on the Board as a Non-executive Director of the company.
Mr. Graney has extensive capital markets and business development experience in biotech as the CFO of several successful public companies. This includes having raised >$500M in capital for highly innovative companies like Oxurion and completing a number of value creating business development transactions. Tom also has an impressive track record of developing high performing teams and talent everywhere he has worked both in the United States and Europe.
Tom’s transatlantic experience in creating significant company and shareholder value makes him uniquely qualified to lead Oxurion as its next CEO as it moves its highly differentiated assets through clinical development.
Tom joined Oxurion as CFO in October 2020, and has over 25 years’ experience in senior finance, strategy, business development and operational roles including most recently as CFO of Generation Bio (NASDAQ: GBIO), and before that CFO of Vertex Pharmaceuticals (NASDAQ: VRTX), and CFO and Head of Corporate Strategy at Ironwood Pharmaceuticals (NASDAQ: IRWD). Earlier in his career he spent 20 years with Johnson and Johnson, including CFO roles at Ethicon, Tibotec and Janssen. Tom also serves on the board of AC Immune (NASDAQ: ACIU).
Tom has an MBA in finance, marketing and international business from the Leonard N. Stern School of Business at New York University and a BS in accounting from the University of Delaware. He is also a CFA charterholder.
Tom Graney, the incoming CEO of Oxurion, said, “I am very excited and honored to become the CEO of Oxurion as we build out our plan to create an important ophthalmic company grounded in exceptional science. I am confident that with THR-149 and THR-687, two highly promising and differentiated new drug candidates, coupled with our extremely talented team, Oxurion has the potential to successfully address a broad range of retinal vascular disorders. This would allow us to generate significant value for patients, payors and shareholders as we look to disrupt and grow the $12 billion market for retinal vascular disorders.”
Patrik De Haes M.D., the incoming Chairman of Oxurion, said, “I am looking forward to supporting Tom and the rest of the Oxurion team in my new role as Chairman as we deliver a number of important clinical development milestones in the months ahead. I am confident that our drug candidates that have the potential to make a significant difference to the lives of the large number of patients with sight threatening disease, who require better treatment options.”
Thomas Clay, outgoing Chairman of Oxurion, commented, “I would like to thank Patrik for his high level of commitment and leadership to Oxurion over the past 14 years and his desire to continue as Chairman of the company. Oxurion is well placed for future success given its industry-leading pipeline of next generation standard of care ophthalmic therapies and a highly experienced team. I look forward to working with Tom, Patrik and the rest of the board as a Non-executive Director of Oxurion as we look to realize a significant opportunity to bring value to patients and shareholders as we progress the clinical development of THR-149 and THR-687 in diabetic macular edema and other important retinal vascular disorders.”
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Oxurion (Euronext Brussels: OXUR) is a biopharmaceutical company developing next generation standard of care ophthalmic therapies, which are designed to better preserve vision in patients with retinal vascular disorders including diabetic macular edema (DME), the leading cause of vision loss in diabetic patients worldwide as well as other conditions, including wet age-related macular degeneration (AMD) and retinal vein occlusion (RVO).
Oxurion is aiming to build the leading global franchise in the treatment of retinal vascular disorders based on the successful development of its two novel therapeutics:
- THR-149, a plasma kallikrein inhibitor being developed as a potential new standard of care for the 40% of DME patients who respond suboptimally to anti-VEGF therapy. THR-149 has shown positive topline Phase 1 results for the treatment of DME. The company is currently conducting a Phase 2 clinical trial evaluating multiple injections of THR-149 in DME patients who previously responded suboptimally to anti-VEGF therapy.
- THR-687 is a pan-RGD integrin antagonist that is initially being developed as a potential first line therapy for DME patients. Positive topline results in a Phase 1 clinical study assessing THR-687 as a treatment for DME were announced in 2020. THR-687 is expected to enter a Phase 2 clinical trial in mid-2021. THR-687, also has the potential to deliver improved treatment outcomes for patients with wet AMD and RVO.
Oxurion is headquartered in Leuven, Belgium, and is listed on the Euronext Brussels exchange under the symbol OXUR. More information is available at www.oxurion.com.
Important information about forward-looking statements
Certain statements in this press release may be considered “forward-looking”. Such forward-looking statements are based on current expectations, and, accordingly, entail and are influenced by various risks and uncertainties. The Company therefore cannot provide any assurance that such forward-looking statements will materialize and does not assume an obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or any other reason. Additional information concerning risks and uncertainties affecting the business and other factors that could cause actual results to differ materially from any forward-looking statement is contained in the Company’s Annual Report. This press release does not constitute an offer or invitation for the sale or purchase of securities or assets of Oxurion in any jurisdiction. No securities of Oxurion may be offered or sold within the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption therefrom, and in accordance with any applicable U.S. state securities laws.