DBV Technologies Announces Results of its 2021 Ordinary and Extraordinary General Meeting and the Appointment of Dr. Adora Ndu, Pharm.D., J.D., and Dr. Ravi Madduri Rao, M.D., Ph.D., as Members of its Board of Directors
DBV Technologies, a clinical-stage biopharmaceutical company, held its Ordinary and Extraordinary General Meeting on May 19, 2021, where shareholders approved all proposed resolutions. Notably, Dr. Adora Ndu and Dr. Ravi Madduri Rao were appointed as independent board members, while Dr. Torbjorn Bjerke retired. The board now consists of ten directors. Dr. Ndu and Dr. Rao bring extensive experience in drug development and regulatory affairs, aiming to support the strategic objectives of DBV, particularly in the advancement of Viaskin Peanut.
- Appointment of Dr. Adora Ndu and Dr. Ravi Madduri Rao as independent directors enhances board expertise.
- Both appointees bring significant experience in drug development and regulatory affairs, potentially strengthening DBV's strategic direction.
- Retirement of Dr. Torbjorn Bjerke may raise concerns about continuity and experience on the board.
Montrouge, France, May 19, 2021
DBV Technologies Announces Results of its 2021 Ordinary and Extraordinary General Meeting and the Appointment of Dr. Adora Ndu, Pharm.D., J.D., and Dr. Ravi Madduri Rao, M.D., Ph.D., as Members of its Board of Directors
DBV Technologies (Euronext: DBV – ISIN: FR0010417345 – Nasdaq Stock Market: DBVT), a clinical-stage biopharmaceutical company, today held its Ordinary and Extraordinary General Meeting. DBV Technologies’ General Meeting was chaired by Michel de Rosen, Chairman of DBV Technologies’ Board of Directors, in a closed virtual session without the physical presence of shareholders or any other person authorized to attend, at DBV Technologies’ registered office.
The Company’s shareholders approved all resolutions for which DBV Technologies’ Board of Directors recommended a vote in favor. These resolutions and their results are posted on the Investors & Media section of the Company’s website: https://www.dbv-technologies.com/investor-relations/financial-information/annual-reports/.
The Company’s shareholders have elected Dr. Adora Ndu, Pharm.D., J.D., and Dr. Ravi Madduri Rao, M.D., Ph.D., as independent directors, effective immediately. Dr. Torbjorn Bjerke, MD, a long-time member of the Board of Directors of DBV Technologies, has decided to retire and is leaving the Board effective today. The Board of DBV Technologies now comprises 10 directors.
“We are pleased with the outcome of DBV Technologies’ Ordinary and Extraordinary General Meeting. We are proud to welcome Adora and Ravi as new independent directors, and we are delighted to have added such accomplished professionals to DBV Technologies’ Board. On behalf of the whole Board of Directors, I would also like to thank Torbjorn for his many years of sound advice and expertise.” said Michel de Rosen. “Today’s appointments reflect a continued commitment to the development of Viaskin Peanut and DBV Technologies’ pipeline by adding the expertise that both Adora and Ravi have demonstrated throughout their careers. We are confident that they will complement our team and help us pursue our strategic objectives.”
Dr. Ndu is currently the Group Vice President, Head of Worldwide Research and Development Strategy, Scientific Collaborations and Policy at BioMarin Pharmaceutical. She brings over 15 years of complementary experience in drug development and regulatory affairs. Dr. Ndu has spent seven years in various leadership roles in the biopharmaceutical sector. Her expertise incorporates regulatory strategy, patient engagement, prescription drug promotion, and policy for U.S. and international markets. Additionally, Dr. Ndu spent eight years at the U.S. Food and Drug Administration, Center for Drug Evaluation and Research, where she progressed in leadership serving most recently as Director for the Division of Medical Policy Development and Commander in the U.S. Public Health Service. She has been involved in the registrations of multiple products globally and is a respected thought leader in regulatory science, having played a significant role in developing and evaluating guidance, as well as shaping regulatory policy. Dr. Ndu received her doctorate in pharmacy from Howard University’s College of Pharmacy and a law degree from the University of Maryland.
“I am thrilled to join DBV Technologies’ Board of Directors and to support DBV’s efforts to advance breakthrough food allergy treatments for patients,” Dr. Ndu said. “Viaskin and Epicutaneous Immunotherapy represent an innovative and promising drug development platform. I look forward to collaborating alongside knowledgeable and committed Board of Directors team at this pivotal point in Viaskin development.”
Dr. Rao is currently the Global Head of Research and Development and Chief Medical Officer at Swedish Orphan Biovitrum (Sobi), where he leads Sobi’s efforts to advance therapeutic treatments for rare diseases in hematology and immunology. Dr. Rao is a well-known research and development professional and clinician with nearly fifteen years of experience in the biopharmaceutical sector, including experience in early and late-stage development, approval and launches of new drugs across multiple therapeutic areas. Previously, he was an academic rheumatologist at Imperial College and a post-doctoral fellow at Harvard University. Dr. Rao is a Member of the Royal College of Physicians, London, and an Honorary Member of the Faculty of Pharmaceutical Medicine.
“Joining DBV Technologies’ Board of Directors presents an exciting opportunity for me to help guide DBV Technologies as the company continues to pursue potential regulatory approval of Viaskin Peanut,” said Dr. Rao. “I really believe in the Viaskin technology. It is compelling and has the potential to lead to the development of transformational medicines for many. I am eager to leverage my medical and drug development experience to support the Board and the management team in planning and implementing DBV Technologies’ strategic mission.”
DBV Technologies’ shareholders have also ratified the appointment of Mr. Timothy E. Morris as an independent member of DBV Technologies’ Board of Directors. Mr. Morris’ cooption, effective March 30, 2021, was subject to the shareholders vote at the General Meeting.
About DBV Technologies
DBV Technologies is developing Viaskin™, an investigational proprietary technology platform with broad potential applications in immunotherapy. Viaskin is based on epicutaneous immunotherapy, or EPIT™, DBV Technologies’ method of delivering biologically active compounds to the immune system through intact skin. With this new class of non-invasive product candidates, the Company is dedicated to safely transforming the care of food allergic patients. DBV Technologies’ food allergies programs include ongoing clinical trials of Viaskin Peanut. DBV Technologies has global headquarters in Montrouge, France and North American operations in Summit, NJ The Company’s ordinary shares are traded on segment B of Euronext Paris (Ticker: DBV, ISIN code: FR0010417345), part of the SBF120 index, and the Company’s ADSs (each representing one-half of one ordinary share) are traded on the Nasdaq Global Select Market (Ticker: DBVT).
Forward Looking Statements
This press release may contain forward-looking statements and estimates, including statements regarding DBV Technologies’ strategic objectives, DBV Technologies’ pursuit of regulatory approval of Viaskin Peanut, and the ability of any of DBV Technologies’ product candidates, if approved, to improve the lives of patients with food allergies. These forward-looking statements and estimates are not promises or guarantees and involve substantial risks and uncertainties. At this stage, DBV Technologies’ product candidates have not been authorized for sale in any country. Among the factors that could cause actual results to differ materially from those described or projected herein include uncertainties associated generally with research and development, clinical trials and related regulatory reviews and approvals, including the impact of the COVID-19 pandemic. A further list and description of risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements in this press release can be found in DBV Technologies’ regulatory filings with the French Autorité des Marchés Financiers (“AMF”), DBV Technologies’ filings and reports with the U.S. Securities and Exchange Commission (“SEC”), including in DBV Technologies’ Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 17, 2021, and future filings and reports made with the AMF and SEC by DBV Technologies. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements and estimates, which speak only as of the date hereof. Other than as required by applicable law, DBV Technologies undertakes no obligation to update or revise the information contained in this Press Release.
DBV Investor Relations Contact
Anne Pollak
+ 1 (857) 529-2363
anne.pollak@dbv-technologies.com
DBV Media Contact
Angela Marcucci
+1 (646) 842-2393
angela.marcucci@dbv-technologies.com
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