Vivoryon Therapeutics N.V. Announces CEO Transition Plan
Vivoryon Therapeutics N.V. Announces CEO Transition Plan
- Dr. Ulrich Dauer not to extend current term running through 2024 AGM
- Board to initiate succession planning
Halle (Saale) / Munich, Germany, June 15, 2023 – Vivoryon Therapeutics N.V. (Euronext Amsterdam: VVY; NL00150002Q7) (Vivoryon), a clinical stage company focused on the discovery and development of small molecule medicines to modulate the activity and stability of pathologically altered proteins, today announced that the Company’s CEO Dr. Ulrich Dauer has informed Vivoryon’s Board of Directors that he has decided not to renew his contract as a member of the Company’s executive leadership team. As a result of his decision, Dr. Dauer will step down as CEO on expiry of his current contract on the date of the 2024 Annual General Meeting or when the appointment of a suitable successor has been agreed upon.
The Board of Directors will initiate a search for Dr. Dauer’s successor focused on a seasoned business leader who can continue to create shareholder value and drive advancements to realize the full potential of Vivoryon’s approach in Alzheimer’s disease and beyond, including varoglutamstat’s progress towards market approval.
In accepting Dr. Dauer’s decision, Dr. Erich Platzer, Chairman of Vivoryon’s Board of Directors commented: “On behalf of the entire Board of Directors, I would like to extend my deep gratitude to Ulrich for his extraordinary commitment over the past five years. His tireless efforts have been instrumental for Vivoryon’s success in refocusing clinical development to bridge the Company’s solid scientific background into true potential for patients. Moreover, Ulrich and his executive team have been successful in continuously financing the Company through an incredibly difficult time in the market and even more so for companies active in neurodegenerative diseases, raising a total of over 110 million Euro. Under his leadership, Vivoryon has thrived and has established the unique position of its oral small molecule varoglutamstat among the most promising Alzheimer’s disease medicines in development, with a remarkably favorable safety profile to date. Having set the course for our key clinical readout in 2024, Ulrich leaves Vivoryon in a very strong position to continue its successful trajectory. The Board looks forward to partnering with him for the remainder of his tenure with the Company.”
“It is a privilege to lead this exceptional team of dedicated professionals and I am immensely proud of our continued clinical progress, allowing us to position varoglutamstat as a potentially disruptive medicine in the rapidly evolving Alzheimer’s disease treatment landscape,” added Dr. Ulrich Dauer, CEO of Vivoryon. “Now that we have ensured that the Company is well-funded through our key milestone, the full VIVIAD data readout in the first quarter of 2024, I strongly believe that Vivoryon is poised for success in its next stages of corporate development for the remainder of my tenure and beyond, and I have every confidence in the Company’s future.”
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About Vivoryon Therapeutics N.V.
Vivoryon is a clinical stage biotechnology company focused on developing innovative small molecule-based medicines. Driven by our passion for ground-breaking science and innovation, we strive to change the lives of patients in need suffering from severe diseases. We leverage our in-depth expertise in understanding post-translational modifications to develop medicines that modulate the activity and stability of proteins which are altered in disease settings. Beyond our lead program, varoglutamstat, which is in Phase 2 clinical development to treat Alzheimer’s disease, we have established a solid pipeline of orally available small molecule inhibitors for various indications including cancer, inflammatory diseases and fibrosis. www.vivoryon.com
Vivoryon Forward Looking Statements
This press release includes forward-looking statements, including, without limitation, those regarding the business strategy, management plans and objectives for future operations of the Vivoryon Therapeutics N.V. (the “Company”), estimates and projections with respect to the market for the Company’s products and forecasts and statements as to when the Company’s products may be available. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to the Company are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance; rather they are based on the Management’s current expectations and assumptions about future events and trends, the economy and other future conditions. The forward-looking statements involve a number of known and unknown risks and uncertainties. These risks and uncertainties and other factors could materially adversely affect the outcome and financial effects of the plans and events described herein. Actual results, performance or events may differ materially from those expressed or implied in such forward-looking statements and from expectations. As a result, no undue reliance should be placed on such forward-looking statements. This press release does not contain risk factors. Certain risk factors that may affect the Company’s future financial results are discussed in the published annual financial statements of the Company. This press release, including any forward-looking statements, speaks only as of the date of this press release. The Company does not assume any obligation to update any information or forward-looking statements contained herein, save for any information required to be disclosed by law.
For more information, please contact:
Investor Contact
Stern IR
Julie Seidel
Tel: +1 212-698-8684
Email: SternIR-Vivoryon@sternir.com
Media Contact
Trophic Communications
Valeria Fisher
Tel: +49 175 8041816
Email: vivoryon@trophic.eu
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