Abivax Announces a Change to the Composition of its Board of Directors
Abivax announced that Dr. Philippe Pouletty, representative of Truffle Capital, will resign as director effective December 31, 2024. Dr. Pouletty, who served as Chairman of the Board from the company's inception in December 2013 until August 2022, is stepping down due to his recent appointment as Chairman and acting CEO of a French listed biotechnology company in plastics recycling. As CEO of Truffle Capital, he was instrumental in founding Abivax and developing obefazimod, the company's lead drug candidate currently in Phase 3 clinical trials for ulcerative colitis. The Board will initiate a search for a new director to support Abivax's late-stage pipeline development in IBD.
Abivax ha annunciato che il Dr. Philippe Pouletty, rappresentante di Truffle Capital, si dimetterà da direttore con effetto dal 31 dicembre 2024. Il Dr. Pouletty, che ha ricoperto il ruolo di Presidente del Consiglio di Amministrazione dalla fondazione della società nel dicembre 2013 fino all'agosto 2022, si dimette a causa della sua recente nomina a Presidente e CEO ad interim di una società biotecnologica francese quotata in borsa nel settore del riciclo della plastica. In qualità di CEO di Truffle Capital, è stato fondamentale per la fondazione di Abivax e per lo sviluppo di obefazimod, il principale candidato farmaco dell'azienda attualmente in fase di sperimentazione clinica di fase 3 per la colite ulcerosa. Il Consiglio avvierà una ricerca per un nuovo direttore che supporti lo sviluppo della pipeline avanzata di Abivax nella IBD.
Abivax anunció que el Dr. Philippe Pouletty, representante de Truffle Capital, renunciará como director a partir del 31 de diciembre de 2024. El Dr. Pouletty, quien ocupó el cargo de Presidente del Consejo desde la fundación de la compañía en diciembre de 2013 hasta agosto de 2022, dejará su puesto debido a su reciente nombramiento como Presidente y CEO interino de una empresa biotecnológica francesa que cotiza en bolsa en el sector del reciclaje de plásticos. Como CEO de Truffle Capital, fue fundamental en la fundación de Abivax y en el desarrollo de obefazimod, el principal candidato a fármaco de la empresa que actualmente se encuentra en ensayos clínicos de fase 3 para la colitis ulcerosa. El Consejo iniciará la búsqueda de un nuevo director para apoyar el desarrollo de la pipeline de última etapa de Abivax en la IBD.
Abivax는 Dr. Philippe Pouletty가 Truffle Capital의 대표로서 2024년 12월 31일부터 이사직에서 사임할 것이라고 발표했습니다. Pouletty 박사는 2013년 12월 회사를 설립한 이후 2022년 8월까지 이사회 의장으로 재직했으며, 최근 플라스틱 재활용 부문의 프랑스 상장 생명공학 회사의 의장 및 임시 CEO로 임명된 이유로 사임하게 되었습니다. Truffle Capital의 CEO로서 Abivax를 창립하고 현재 궤양성 대장염에 대한 3상 임상시험 중인 주요 약물 후보인 obefazimod의 개발에 중요한 역할을 했습니다. 이사회는 IBD의 후기 파이프라인 개발을 지원하기 위해 새로운 이사를 찾기 시작할 것입니다.
Abivax a annoncé que le Dr Philippe Pouletty, représentant de Truffle Capital, démissionnera en tant que directeur à compter du 31 décembre 2024. Le Dr Pouletty, qui a été président du conseil d'administration depuis la création de l'entreprise en décembre 2013 jusqu'en août 2022, se retire en raison de sa récente nomination en tant que président et PDG par intérim d'une entreprise biotechnologique française cotée en bourse dans le domaine du recyclage des plastiques. En tant que PDG de Truffle Capital, il a joué un rôle essentiel dans la fondation d'Abivax et le développement d'obefazimod, le principal candidat médicament de l'entreprise actuellement en phase d'essai clinique de phase 3 pour la colite ulcéreuse. Le Conseil commencera à rechercher un nouveau directeur pour soutenir le développement du pipeline avancé d'Abivax dans les IBD.
Abivax gab bekannt, dass Dr. Philippe Pouletty, Vertreter von Truffle Capital, mit Wirkung zum 31. Dezember 2024 als Direktor zurücktreten wird. Dr. Pouletty, der von der Gründung des Unternehmens im Dezember 2013 bis August 2022 als Vorsitzender des Verwaltungsrats tätig war, tritt zurück, da er kürzlich zum Vorsitzenden und vorübergehenden CEO eines französischen börsennotierten Biotechnologieunternehmens im Bereich Kunststoffrecycling ernannt wurde. Als CEO von Truffle Capital spielte er eine entscheidende Rolle bei der Gründung von Abivax und der Entwicklung von obefazimod, dem führenden Arzneimittelkandidaten des Unternehmens, der sich derzeit in der Phase-3-Entwicklung für die ulcerative Kolitis befindet. Der Vorstand wird die Suche nach einem neuen Direktor einleiten, um die Entwicklung der späten Produktpipeline von Abivax im Bereich IBD zu unterstützen.
- Truffle Capital confirms continued support as major shareholder
- Phase 3 ABTECT trial data readout expected in 2025
- Lead drug candidate obefazimod progressing in Phase 3 clinical trials
- Loss of experienced board member and company founder
Abivax Announces a Change to the Composition of its Board of Directors
PARIS, France, December 23, 2024, 10:05 PM CEST – Abivax SA (Euronext Paris & Nasdaq: ABVX) (“Abivax” or the “Company”), a clinical-stage biotechnology company focused on developing therapeutics that harness the body’s natural regulatory mechanisms to modulate the inflammatory response in patients with chronic inflammatory diseases, today announced that Dr. Philippe Pouletty, representative of Truffle Capital, tendered his resignation as director of the Company effective on December 31, 2024. Dr. Philippe Pouletty’s decision is directly related to his appointment last week as Chairman and acting Chief Executive Officer of a French listed biotechnology company in the field of plastics recycling. Dr. Pouletty, also CEO of Truffle Capital, was Chairman of the Board of Directors of Abivax from the inception of the Company in December 2013 until August 2022 and has continued as a Board member since then.
Philippe Pouletty, MD said: “It is a great pride for me and Truffle Capital to have founded Abivax and to have contributed to the development of obefazimod for over a decade. I am convinced that Abivax, led by a strong CEO, management team, and board of directors, has the potential to help hundreds of thousands of patients suffering from severe inflammatory diseases. I expect Truffle Capital to continue to be a great supporter of Abivax as a major shareholder through the next several inflection points, including the expected Phase 3 ABTECT data readout in 2025.”
Sylvie Grégoire, PharmD, Chair of the Board of Abivax: “On behalf of the Board of Directors of Abivax I would like to thank Philippe for his numerous and significant contributions to Abivax over the past several years. As a founder and former chairman, Dr. Pouletty has played a pivotal role in guiding the Company to the forefront of therapeutic innovation, particularly in the development of Abivax’s lead drug candidate, obefazimod, which is now in Phase 3 clinical trials for ulcerative colitis. We will initiate a search to complete the board composition with a strong candidate to contribute to the advancement of Abivax’s late-stage pipeline in IBD.”
About Abivax
Abivax is a clinical-stage biotechnology company focused on developing therapeutics that harness the body’s natural regulatory mechanisms to modulate the inflammatory response in patients with chronic inflammatory diseases. Based in France and the United States, Abivax’s lead drug candidate, obefazimod (ABX464), is in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis. More information on the Company is available at www.abivax.com. Follow us on LinkedIn and on X, formerly Twitter, @Abivax.
*****
Contact:
Patrick Malloy
SVP, Investor Relations Abivax
patrick.malloy@abivax.com +1 847 987 4878
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements, including those relating to the Company’s business objectives. Words such as “intend,” “may,” “would,” “will” and variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements include statements concerning or implying the therapeutic potential of Abivax’s drug candidates, the availability and timing of data from its clinical trials, Truffle Capital’s expected future support of the Company, the Company’s intentions regarding its search for a new Board member, and other statements that are not historical fact. Although Abivax’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks, contingencies and uncertainties, many of which are difficult to predict and generally beyond the control of Abivax, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. A description of these risks, contingencies and uncertainties can be found in the documents filed by the Company with the French Autorité des Marchés Financiers pursuant to its legal obligations including its universal registration document (Document d’Enregistrement Universel) and in its Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on April 5, 2024 under the caption “Risk Factors.” These risks, contingencies and uncertainties include, among other things, the uncertainties inherent in research and development, future clinical data and analysis, decisions by regulatory authorities, such as the FDA or the EMA, regarding whether and when to approve any drug candidate, as well as their decisions regarding labelling and other matters that could affect the availability or commercial potential of such product candidates, and the availability of funding sufficient for the Company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements. Special consideration should be given to the potential hurdles of clinical and pharmaceutical development, including further assessment by the Company and regulatory agencies and IRBs/ethics committees following the assessment of preclinical, pharmacokinetic, carcinogenicity, toxicity, CMC and clinical data. Furthermore, these forward-looking statements, forecasts and estimates are made only as of the date of this press release. Readers are cautioned not to place undue reliance on these forward-looking statements. Abivax disclaims any obligation to update these forward-looking statements, forecasts or estimates to reflect any subsequent changes that the Company becomes aware of, except as required by law. Information about pharmaceutical products (including products currently in development) that is included in this press release is not intended to constitute an advertisement. This press release is for information purposes only, and the information contained herein does not constitute either an offer to sell or the solicitation of an offer to purchase or subscribe for securities of the Company in any jurisdiction. Similarly, it does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. It should not be regarded by recipients as a substitute for exercise of their own judgment. All opinions expressed herein are subject to change without notice. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes are required to inform themselves about and to observe any such restrictions.
FAQ
Why is Dr. Philippe Pouletty resigning from Abivax's (ABVX) Board of Directors?
When will Abivax (ABVX) release Phase 3 ABTECT trial results?
What is the current development stage of Abivax's (ABVX) lead drug candidate obefazimod?
How long did Dr. Pouletty serve as Chairman of Abivax (ABVX)?
