NÎMES, France--(BUSINESS WIRE)--Regulatory News:
Advicenne (Euronext Paris & Brussels: ADVIC - FR0013296746), a specialty pharmaceutical company focused on the development and commercialization of therapeutic products for orphan renal and neurological diseases, today announces that Dr Luc-André Granier has left his role as CEO of the Company. The Board of Directors has elected Dr. André Ulmann, current Board Observer of the company, as Interim CEO of Advicenne, with immediate effect.
David Horn Solomon, Chairman of the Advicenne Board of Directors, commented: “On behalf of our Board of Directors, I would like to thank Luc-André Granier for his valuable involvement and contributions as CEO. As one of the founders and CEO of the company, he has contributed significantly to building and advancing Advicenne and has positioned the company for success. I welcome André Ulmann whose experience and medical development skills will be instrumental to the further growth and success of Advicenne.”
Dr. André Ulmann has over thirty years’ experience as a Pharmaceutical Industry executive in various positions. André joined Roussel Uclaf (later Sanofi Aventis) where he led R&D in endocrinology and neurology. In 1996, he created and led HRA Pharma for more than 20 years, a company specialized in women’s health and rare diseases and oncology. He grew the company from inception to more than €100m sales in 2017. In 1999, HRA Pharma launched Norlevo, better known as the “morning-after pill”. Norlevo is now available in more than fifty countries and HRA Pharma is considered a pioneer in emergency contraception. The company was acquired in 2016 in a major Private Equity transaction. Andre also serves on Asarina (Stockolm : ASAP.ST) and has served on Advicenne board since 2008. In 2018, André was the recipient of the First John Baxter award for Entrepreneurship given by the American Endocrine Society. Dr. Ulmann is a Doctor of Medicine and Doctor of Science from the University of Paris, and began his career practicing Nephrology at Hôpital Necker (Paris, France), where he was responsible for the care of cystinuria patients.
The search for a permanent CEO is ongoing.
André Ulmann stated “As a long-standing scientific, corporate and financial supporter of Advicenne, I am honored and excited to be able to bring the company through its next decisive milestones over 2020 in close cooperation with Chairman David Horn Solomon and Advicenne’s board. ADV7103 is close to a European approval and is a potential breakthrough product that fulfill great unmet medical needs in dRTA and cystinuria, two orphan indications currently not well served. I look forward to contributing advances toward commercialization of our first product.”
Advicenne (Euronext ADVIC) is a specialty pharmaceutical company dedicated to developing and commercializing innovative treatments for those suffering from rare kidney disease.
In 2017, ADV7103 was granted orphan drug designation by the European Commission in the treatment of distal renal tubular acidosis (dRTA), a serious condition that occurs when the kidneys are unable to effectively remove the buildup of circulating acids in the blood, resulting in metabolic imbalance.
ADV7103 is currently in Phase III clinical trials for dRTA in the United States and Canada. In 2019, a European marketing authorization application for the drug candidate in the treatment of dRTA was submitted for centralized review.
At Advicenne, we are committed to innovating in the areas of formulation and dosage. Tasteless and easy to administer, our products are commercialized in small-size formats that offer flexible, personalized dosing – because path-breaking treatments for rare diseases should be available to patients of all ages.
Headquartered in Nîmes, France, Advicenne has been listed on the Euronext Paris stock exchange since 2017 and was cross-listed on the Euronext Brussels stock exchange in 2019.
This press release contains certain forward-looking statements relating to the business of Advicenne, which shall not be considered per se as historical facts. Such statements include projections and estimates, and the hypotheses on which these are based, as well as observations relating to operations, ongoing projects, objectives, the development of products and their future performance, and expectations regarding financial results.
In some cases, forward-looking statements can be identified by words such as "could," "should," "may," "expects," "anticipates," "believes," "intends," "estimates," "aims," "targets" or similar words. Although the management of Advicenne believes that these forward-looking statements are reasonably made, investors should be aware that they are subject to a number of known and unknown risks and uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. In particular, the expectations of Advicenne could be affected by, among other things, uncertainties involved in the placing on the market and commercialization of Advicenne products or any other risks and uncertainties developed or identified in any public documents filed by Advicenne with the French Financial Markets Authority (Autorité des marchés financiers (AMF)), including those listed in Chapter 4, “Risk Factors,” of its reference document, filed with the latter on December 19, 2019, under number D.19-1036. Notwithstanding the compliance with article 223-1 of the General Regulation of the AMF (the information disclosed must be “accurate, precise and fairly presented”), Advicenne disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Any information relating to the use of drug candidates contained in the present press release is based on the results of ongoing studies at the time of the release’s publication. A drug candidate is a product that has not yet received marketing authorization from a health agency.