Medexus Appoints New Chief Financial Officer

Rhea-AI Summary

Medexus Pharmaceuticals announces the appointment of Marcel Konrad as the new Chief Financial Officer, succeeding Roland Boivin, effective immediately. Boivin will assist in the transition for about three months. Konrad has over 20 years of finance experience, most recently at CareDx, where he played a key role in scaling operations. His background also includes significant roles at Santen and Novartis. Medexus aims to expand its portfolio in rare disease treatments and innovate healthcare solutions.

Positive

• Marcel Konrad brings over 20 years of financial and operational experience.
• Konrad's prior experience includes leadership roles in U.S. multinational companies.
• The transition aims to ensure continuity and strengthen financial management.

Negative

• Roland Boivin's departure may raise concerns regarding continuity in financial leadership.

TORONTO and CHICAGO, July 19, 2021 (GLOBE NEWSWIRE) -- Medexus Pharmaceuticals Inc. (“Medexus” or the “Company”) (TSX: MDP) (OTCQX: MEDXF) is pleased to announce the appointment of Marcel Konrad as Chief Financial Officer of the Company, effective immediately. Mr. Konrad succeeds Roland Boivin, who is stepping down after nearly a decade in the role. Mr. Boivin has agreed to stay on in an advisory capacity in order to help ensure an orderly transition of responsibilities to Mr. Konrad over the next approximately three months.

“I want to take this opportunity on behalf of all of us at Medexus to thank Roland for all of his efforts and dedicated service and to wish him the very best in his future endeavours,” said Ken d’Entremont, the Company’s Chief Executive Officer.

“I am grateful for the opportunity to have worked with the entire Medexus team and to have played a key role in transitioning the Company from a small Canadian-only player into a North-American commercial leader in innovative orphan drug and rare disease products,” said Roland Boivin. “I’m confident that Medexus is positioned to continue to prosper and I look forward to working with Mr. Konrad, Ken and the executive team to ensure a smooth transition.”

Looking forward, Mr. Konrad brings over 20 years of experience in accounting, finance and business across various global markets, including the United States. Mr. Konrad joins the Company from CareDx, Inc. (Nasdaq: CDNA), a precision medicine solutions company, where he has served as Senior Vice President Finance & Accounting and Vice President, Corporate Controller since 2018, including a stint as acting Chief Financial Officer in early 2021. While at CareDx, Inc., Mr. Konrad was tasked with scaling multinational accounting, finance and business operations including streamlining processes and systems while navigating the integration of various financings and cross-border acquisitions.

Prior to joining CareDx, Inc., Mr. Konrad worked in similar roles at Santen Inc., a US subsidiary of a publicly listed Japanese pharmaceutical company with global operations, and held various roles at Novartis Pharmaceuticals, both in the US and Switzerland. Mr. Konrad holds an International MBA from the University of San Diego and graduated Business Administration from HEC Lausanne, University of Lausanne, Switzerland. Mr. Konrad is an active US Certified Public Accountant and during his tenure at Novartis has completed the Finance Leadership Program at the Harvard Business School.

“Marcel brings to Medexus a combination of financial acumen, strategic and industry expertise and global operational leadership experience that will be invaluable to the Company. We very much look forward to Marcel beginning his Medexus journey,” Mr. d’Entremont said.

About Medexus Pharmaceuticals Inc.

Medexus is a leader in innovative rare disease treatment solutions with a strong North American commercial platform. From a foundation of proven best in class products we are building a highly differentiated company with a portfolio of innovative and high value orphan and rare disease products that will underpin our growth for the next decade. The Company’s vision is to provide the best healthcare products to healthcare professionals and patients, through our core values of Quality, Innovation, Customer Service and Teamwork. Medexus Pharmaceuticals is focused on the therapeutic areas of auto-immune disease, hematology, and allergy. The Company’s leading products are: Rasuvo™ and Metoject®, a unique formulation of methotrexate (auto-pen and pre-filled syringe) designed to treat rheumatoid arthritis and other auto-immune diseases; IXINITY®, an intravenous recombinant factor IX therapeutic for use in patients 12 years of age or older with Hemophilia B – a hereditary bleeding disorder characterized by a deficiency of clotting factor IX in the blood, which is necessary to control bleeding; and Rupall®, an innovative prescription allergy medication with a unique mode of action.

For more information, please contact:

Ken d’Entremont, Chief Executive Officer
Medexus Pharmaceuticals Inc.
Tel.: 905-676-0003
E-mail: ken.dentremont@medexus.com

Investor Relations (U.S.):
Crescendo Communications, LLC
Tel: +1-212-671-1020
Email: mdp@crescendo-ir.com

Investor Relations (Canada):
Tina Byers
Adelaide Capital
Tel: 905-330-3275
E-mail: tina@adcap.ca

FAQ

Who is the new Chief Financial Officer of Medexus Pharmaceuticals?

Marcel Konrad is appointed as the new Chief Financial Officer of Medexus Pharmaceuticals.

What experience does Marcel Konrad have?

Marcel Konrad has over 20 years of accounting and finance experience, including senior roles at CareDx and Novartis.

What will Roland Boivin's role be after stepping down?

Roland Boivin will remain in an advisory capacity to ensure a smooth transition.

When did Marcel Konrad start as CFO of Medexus?

Marcel Konrad's appointment as Chief Financial Officer is effective immediately as of July 19, 2021.

How might Konrad's appointment impact Medexus Pharmaceuticals?

His extensive experience in finance and operations is expected to strengthen Medexus' financial management and growth strategies.