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Onxeo Continues to Strengthen its Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
Onxeo S.A. has appointed Bryan Giraudo, COO & CFO of Gossamer Bio, as an independent member of its Board of Directors, replacing Thomas Hofstaetter. Giraudo brings extensive financial expertise and a strong network in the U.S. life sciences sector. His appointment aims to strengthen Onxeo's international focus, especially in developing its innovative oncology drug, AsiDNA™, which targets DNA Damage Response (DDR). Chairwoman Shefali Agarwal and CEO Judith Greciet lauded his financial acumen and strategic insights.
Positive
Appointment of Bryan Giraudo enhances financial expertise on the Board.
Strengthens Onxeo's international focus and presence in the U.S. market.
Giraudo's background in life sciences investment banking could attract potential partnerships.
Negative
Transition may lead to concerns over continuity in leadership.
Departure of Thomas Hofstaetter removes an experienced member from the Board.
Bryan Giraudo, COO & CFO of U.S. biopharmaceutical company Gossamer Bio, joins the Company’s Board as independent member
PARIS--(BUSINESS WIRE)--
Regulatory News:
Onxeo S.A. (Euronext Growth Paris: ALONX, Nasdaq First North: ONXEO), « Onxeo », a clinical-stage biotechnology company specializing in the development of innovative drugs targeting tumor DNA Damage response (DDR) in oncology, today announced the appointment of Bryan Giraudo as independent member of the Board of Directors, replacing Thomas Hofstaetter after three mandates.
Bryan Giraudo is both the Chief Operating Officer & Chief Financial Officer of Gossamer Bio, a U.S. listed biopharmaceutical company (Nasdaq: GOSS) focused on developing and commercializing innovative therapeutics in the areas of immunology, inflammation and oncology. Previously, he served as Senior Managing Director at LEERINK Partners, where he was responsible for LEERINK’s Western North America and Asia life sciences investment banking practice. Prior to joining LEERINK Partners in 2009, Mr Giraudo was a Managing Director in Merrill Lynch’s Global Healthcare Investment Banking Division.
Bryan Giraudo, new independent member of the Board of Directors of Onxeo, declared: "I am thrilled to join Onxeo’s Board of Directors, comprising outstanding experts in different clinical and strategic fields. I have been impressed by the Company’s technology targeting the tumor DNA Damage response and by the professionalism of the teams and I am happy to have the opportunity to support the development of the Company with my experience as an investment banker in the US life sciences sector as well as executive manager in a US Biotech.”
Shefali Agarwal, Chairwoman of the Board of Directors of Onxeo, commented: “On behalf of the entire Board of Directors I would like to thank Thomas Hofstaetter for his important contribution to the development of ONXEO during the past nine years. I am pleased to welcome Bryan Giraudo, whose arrival further strengthens our international focus and brings to the Company a strong financial experience and a broad network within the investment community in the US.”
Judith Greciet, Chief Executive Officer of Onxeo, concluded: "With Bryan joining our Board of Directors today, I am glad that our Company was able to attract such an outstanding group of seasoned professionals. This clearly shows the growing interest and awareness of our unique approach in the field of DNA Damage Response internationally. The very complementary strategic advice from our Board members will be instrumental for our ambitious development program with AsiDNA™, notably in the United States.”
About Onxeo
Onxeo (Euronext Paris, NASDAQ Copenhagen: ONXEO) is a clinical-stage biotechnology company developing innovative oncology drugs targeting tumor DNA-binding functions through unique mechanisms of action in the sought-after field of DNA Damage Response (DDR). The Company is focused on bringing early-stage first-in-class or disruptive compounds from translational research to clinical proof-of-concept, a value-creating inflection point appealing to potential partners.
platON™ is Onxeo’s chemistry platform of oligonucleotides acting as decoy agonists, which generates new innovative compounds and broaden the Company’s product pipeline.
AsiDNA™, the first compound from platON™, is a first-in-class, highly differentiated clinical stage candidate in the field of DNA Damage Response (DDR). Its decoy and agonist mechanism acting upstream of multiple DDR pathways results in distinctive antitumoral properties, notably the ability to prevent or abrogate tumor resistance to targeted therapies such as PARP inhibitors and a strong synergy with tumor DNA-damaging agents such as radio/chemotherapy. AsiDNA™ is currently in combination clinical studies in hard-to-treat solid tumors.
OX401 is a new drug candidate from platON™, optimized to be a potent PARP agonist acting on both the DNA Damage Response and the activation of immune response, without inducing resistance. OX401 is undergoing preclinical proof-of-concept studies, alone and in combination with immunotherapies.
This communication expressly or implicitly contains certain forward-looking statements concerning Onxeo and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Onxeo to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Onxeo is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise. For a discussion of risks and uncertainties which could cause actual results, financial condition, performance or achievements of Onxeo to differ from those contained in the forward-looking statements, please refer to the risk factors described in the most recent Company’s registration document or in any other periodic financial report and in any other press release, which are available free of charge on the websites of the Company Group (www.onxeo.com) and/or the AMF (www.amf-france.org).
What is the significance of Bryan Giraudo's appointment to Onxeo's Board?
Bryan Giraudo's appointment is significant as it brings strong financial expertise and a broad network in the U.S. life sciences sector, which may enhance Onxeo's strategic direction and international focus.
Who did Bryan Giraudo replace on Onxeo's Board?
Bryan Giraudo replaced Thomas Hofstaetter, who served on the Board for three mandates.
What experience does Bryan Giraudo bring to Onxeo?
Bryan Giraudo has extensive experience as COO & CFO at Gossamer Bio and previously as Managing Director at Merrill Lynch, specializing in life sciences investment banking.
How might this management change impact Onxeo's development strategy?
The management change could enhance Onxeo's development strategy by leveraging Giraudo's financial background to potentially attract investment and accelerate growth in its oncology drug initiatives, particularly AsiDNA™.
What are the main products that Onxeo is developing?
Onxeo is developing innovative oncology drugs, including AsiDNA™, targeting DNA Damage Response (DDR), and OX401, a PARP agonist.
