BioPorto implements changes to the Executive Management.
January 9, 2024
Announcement no. 01
BioPorto implements changes to the Executive
Management.
COPENHAGEN, DENMARK and BOSTON, MA, January 9,
2024, (GLOBE NEWSWIRE) – BioPorto A/S (BioPorto or the
Company) (CPH:BIOPOR), today announced changes to the Executive
Management.
By mutual agreement, BioPorto’s CEO, Anthony
Pare, is stepping down and leaving BioPorto with effect from today.
Peter Mørch Eriksen has been appointed as interim CEO.
Chairman John McDonough says: “We are excited to
have achieved FDA clearance for pediatric use of ProNephro AKI™ and
are now focused on our next stage of growth with a sharp focus on
execution. This next stage will include commercialization of
ProNephro AKI in the United States, expansion of the use of
ProNephro AKI in Europe and other countries and securing FDA
instrument- & adult indication expansion of ProNephro AKI and
The NGAL Test™ to enable patients around the world to benefit from
our products while expanding the Company’s market opportunity. To
execute this, the Board of Directors has decided to initiate the
search for a new CEO who will be able to support and execute the
Company’s short- and long-term strategy and goals.”
Chairman John McDonough continued: “I want to
thank Anthony Pare for his service through the last two years in
BioPorto and his contributions to achieving FDA Clearence of
ProNephro AKI, a significant milestone for the Company. The Board
of Directors has enjoyed working with Anthony for the past years
and wish him all the best with his new endeavours.”
Interim Management
The Board of Directors has as of today appointed
Board Member Peter Mørch Eriksen as interim CEO of the Company.
Peter Mørch Eriksen will remain in his position as Board Member at
least until the expiry of his election period at this year’s Annual
General Meeting.
Peter Mørch Eriksen has spent more than 25 years
in the MedTech/life science industries, including as CEO of Sense
A/S and VP of Medtronic. Peter has previously been the CEO of
BioPorto in the period from 2013 – 2021 and has served as a Board
Member in BioPorto since then. Further, Peter is the Chairman of
FluoGuide A/S and MONSENSO A/S.
Chairman John McDonough further continued: “I am
very happy that Peter has agreed to take on the Interim CEO role.
Peter brings great knowledge and industry experience to the CEO
position and brings extensive value to the daily operations as well
as strategy creation and execution. Peter will be working closely
with the Board of Directors to continue our focus on our strategic
initiatives and his role should enable a smooth transition to a
newly appointed CEO in the near future.
Together with the Board of Directors and the
BioPorto team, Peter will finalize work that has already been
commenced on the Company’s plans for commercialization, FDA
instrument- & indication expansion, financial guidance for 2024
and capital requirements which is to be published by mid-February
2024.”
The content of this announcement does not alter
BioPorto’s financial guidance for 2023 as most recently presented
in the November 1, 2023, Interim Report.
To receive BioPorto’s Company
Announcements, Press Releases, Newsletters and other business
relevant information, please sign up on BioPorto’s webpage.
For inquiries, please
contact
John McDonough, Chairman of the Board of
Directorsinvestor@bioporto.comP: +45 4529 0000
About Acute Kidney Injury
Acute kidney injury is a sudden episode of
kidney failure or kidney damage that happens within a few hours or
a few days. AKI causes a build-up of waste products in blood and
makes it difficult for kidneys to maintain the proper balance of
bodily fluids. AKI can also affect other organs such as the brain,
heart, and lungs and is common in patients who are in hospital
intensive care units. For more information about AKI please visit:
https://bioporto.com/aki/.
About BioPorto
BioPorto is an in vitro diagnostics company
focused on saving lives and improving the quality of life with
actionable biomarkers – tools designed to help clinicians make
changes in patient management. The Company uses its expertise in
antibodies and assay development, as well as its platform for assay
development, to create a pipeline of novel and compelling products
that focus on conditions where there is significant unmet medical
need, and where the Company’s tests can help improve clinical and
economic outcomes for patients, providers, and the healthcare
ecosystem.
The Company’s flagship products are based on the
NGAL biomarker and designed to aid in the risk assessment and
diagnosis of Acute Kidney Injury, a common clinical syndrome that
can have severe consequences, including significant morbidity and
mortality, if not identified and treated early. With the aid of
NGAL levels, physicians can identify patients potentially at risk
of AKI more rapidly than is possible with current standard of care
measurements, enabling earlier intervention and more tailored
patient management strategies. The Company markets NGAL tests under
applicable registrations including CE mark in several countries
worldwide.
BioPorto has facilities in Copenhagen, Denmark
and Boston, MA, USA. The shares of BioPorto A/S are listed on the
Nasdaq Copenhagen stock exchange. For more information visit
www.bioporto.com.
Forward-looking Statements
This announcement contains certain
forward-looking statements. Words such as “initiate”, “may”,
“focus”, “design”, “guide”, “plan”, “estimate”, “expand”, “target”,
“potentially”, “will”, “should” and similar expressions identify
such forward-looking statements, and such forward looking
statements include statements with respect to commercialization
activities in the U.S. and elsewhere, our collaboration with Roche
Diagnostics GmbH (Roche), our ability to obtain regulatory approval
to expand indications to analyzers other than the cobas c 501 or to
other age groups and/or clinical indications, the buildout of our
commercialization team and our financial guidance. Forward-looking
statements involve risks, uncertainties and other factors, which
may cause actual results, performance and achievements to differ
materially from those contained in the forward-looking statements.
These include numerous assumptions, risks and uncertainties, many
of which are beyond BioPorto’s control. These assumptions, risks
and uncertainties are described from time to time in BioPorto’s
public announcements, its Interim Reports, and in its 2022 Annual
Report under Risk Factors. BioPorto undertakes no obligation to
publicly update or revise forward-looking statements to reflect
subsequent events or circumstances after the date of this
presentation, except as required by applicable law.
- 2024 01 09 - Announcement no 01
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