Mirum Pharmaceuticals Announces the Appointment of Eric Bjerkholt as Chief Financial Officer

Rhea-AI Summary

Mirum Pharmaceuticals appoints Eric Bjerkholt as CFO, bringing extensive business leadership experience from the biopharmaceutical industry. Bjerkholt's appointment is seen as important for Mirum's growth and global scale. He is granted 110,000 shares of common stock and 55,000 restricted stock units. Bjerkholt's appointment and stock grants indicate positive prospects for Mirum's future.

Positive

• Eric Bjerkholt's appointment as CFO brings extensive business leadership experience, indicating positive prospects for Mirum's future.
• Bjerkholt is granted 110,000 shares of common stock and 55,000 restricted stock units, showing confidence in Mirum's growth potential.

Negative

• None.

FOSTER CITY, Calif.--(BUSINESS WIRE)-- Mirum Pharmaceuticals, Inc. (NASDAQ: MIRM) today announced the appointment of Eric Bjerkholt as chief financial officer (CFO).

“Eric is an accomplished CFO bringing an outstanding track record in driving financial performance, business development, and operations management,” said Chris Peetz, president and chief executive officer at Mirum. “Eric is joining at an important period of growth and global scale for Mirum, and it is a pleasure to have his experience and leadership at Mirum as we continue to execute on numerous initiatives across our rare disease franchises.”

Mr. Bjerkholt brings extensive business leadership experience from roles served in the biopharmaceutical industry. He comes to Mirum from Chinook Therapeutics, Inc., where he served as CFO overseeing financial reporting, planning and budgeting, internal controls, investor relations, facilities, and information technology functions. Prior to Chinook, he served as CFO at Aimmune Therapeutics, Inc. Before Aimmune, Eric worked at Sunesis Pharmaceuticals, Inc., IntraBiotics Pharmaceuticals, Inc., LifeSpring Nutrition, Inc., and Age Wave, LLC. Prior to joining industry, Mr. Bjerkholt spent nearly a decade in healthcare investment banking at J.P. Morgan & Company, Inc. He is currently a member of the board of directors of CalciMedica, Inc., Cerus Corporation and Surrozen, Inc. Mr. Bjerkholt holds an MBA from Harvard Business School and a Cand.Oecon degree from the University of Oslo in Norway.

“Mirum is an exciting company that has achieved significant success in a short period of time,” said Mr. Bjerkholt. I am impressed by the company’s patient focus, scientific rigor, and vibrant culture, all critical elements in building a lasting and successful organization. I believe Mirum is poised for much continued success, and I look forward to helping the company grow and reach as many patients as possible around the world with solutions that address their medical needs.”

In conjunction with his appointment, the Compensation Committee of Mirum’s Board of Directors approved an inducement grant 110,000 shares of common stock, which will have an exercise price per share equal Mirum’s stock closing trading price on September 11, 2023, and 55,000 restricted stock units under Mirum’s 2020 Inducement Plan. The Compensation Committee approved the awards as an inducement material to Mr. Bjerkholt’s employment in accordance with Nasdaq Listing Rule 5635(c)(4). The stock options will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the underlying shares vesting monthly thereafter over 36 months, subject to Mr. Bjerkholt’s continued service relationship with Mirum through the applicable vesting dates. The RSUs will vest over three years, with 33% of the underlying shares vesting on each anniversary of the applicable vesting commencement date, subject to his continued service relationship with Mirum through the applicable vesting dates.

About Mirum Pharmaceuticals, Inc.

Mirum Pharmaceuticals, Inc. is a biopharmaceutical company dedicated to transforming the treatment of rare diseases affecting children and adults. Mirum has three approved medications: LIVMARLI® (maralixibat) oral solution, Cholbam® (cholic acid) capsules, and Chenodal® (chenodiol) tablets.

LIVMARLI, an IBAT inhibitor, is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the U.S. (three months and older), in Europe (two months and older), and in Canada. Mirum has also submitted LIVMARLI for approval in the U.S. in cholestatic pruritus in PFIC patients three months of age and older and in Europe in PFIC for patients two months of age and older. Cholbam is FDA-approved for the treatment of bile acid synthesis disorders due to single enzyme deficiencies and adjunctive treatment of peroxisomal disorders in patients who show signs or symptoms or liver disease. Chenodal has received medical necessity recognition by the FDA to treat patients with cerebrotendinous xanthomatosis (CTX).

Mirum’s late-stage pipeline includes three investigational treatments for debilitating liver diseases. The LIVMARLI development program includes the Phase 2b EMBARK study for biliary atresia. Mirum’s second investigational IBAT inhibitor is volixibat, which is being evaluated in two potentially registrational studies including the Phase 2b VISTAS study for primary sclerosing cholangitis and Phase 2b VANTAGE study for primary biliary cholangitis. Lastly, Chenodal, is being evaluated in a Phase 3 clinical study, RESTORE, to treat patients with CTX.

To learn more about Mirum, visit mirumpharma.com and follow Mirum on Facebook, LinkedIn, Instagram and Twitter.

Forward-Looking Statements

This press release contains “forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements, including those regarding the continued commercial and development success of Mirum products and candidates involve risks and uncertainties. The Company’s experience and results may differ materially from the experience and results anticipated in such statements. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions including, but are not limited to, the following factors: the uncertainties inherent in research and development; the uncertainties inherent in business and financial planning, including, without limitation, risks related to Mirum’s business and prospects, adverse developments in our focused markets, or adverse developments in the U.S. or global regulatory environment or economies generally; the continued impact of COVID-19 on our business, operations and financial results; and competitive developments. Other factors that might cause such a difference include those discussed in the Company’s filings with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Mirum undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230911956575/en/

Mirum Pharmaceuticals, Inc.

Media:

Erin Murphy

510-508-6521

media@mirumpharma.com

Investors:

Andrew McKibben

ir@mirumpharma.com

Sam Martin

Argot Partners

ir@mirumpharma.com

Source: Mirum Pharmaceuticals, Inc.