Motif Bio PLC Appointment of Bruce Williams as Interim Chairman (0945T)
March 18 2019 - 2:01AM
UK Regulatory
TIDMMTFB
RNS Number : 0945T
Motif Bio PLC
18 March 2019
Motif Bio plc
("Motif Bio" or the "Company")
Board Change
Motif Bio Announces Appointment of Bruce Williams as Interim
Chairman
and Resignation of Richard Morgan from the Board
Motif Bio plc (AIM/Nasdaq: MTFB), a clinical-stage
biopharmaceutical company specialising in developing novel
antibiotics, today announced that Richard C. E. Morgan has tendered
his resignation as Non-executive Chairman and is stepping down from
the Board of Directors, effective immediately, to focus on other
business commitments. Bruce Williams, a long-standing Board member,
has been appointed Interim Chairman. Mr. Morgan has agreed to
remain available to the Company in the coming months on an as
needed basis to ensure a smooth transition.
"On behalf of Motif Bio and the Board of Directors, I thank
Richard for his mentorship, dedicated service and support over many
years since the foundation of Motif Bio and wish him the best in
his future endeavours," said Graham Lumsden, Chief Executive
Officer of Motif Bio. "We are delighted that Bruce has agreed to
step into the interim Chairman role. He is a strong leader who has
held senior executive positions, particularly in strategic product
planning and commercialisation, at a number of biopharmaceutical
companies. I look forward to continuing to work with him as Motif
Bio seeks to advance iclaprim towards approval. We have submitted a
meeting request and package to the FDA and expect to work
collaboratively with the Agency over the coming weeks."
Bruce Williams, Interim Chairman of the Board of Motif Bio,
said: "I am pleased to have the opportunity to serve in this role.
All of us on the Board have full confidence in the management team
and are convinced that the best path forward for iclaprim will be
found."
Bruce Williams has significant operational experience in the
biopharmaceutical industry and has held senior leadership positions
at both large pharmaceutical firms and start-up biotechs. He served
as Senior Vice President, Global Business Management at Enzon
Pharmaceuticals, where he led the company's commercial functions.
Prior to that, he was Senior Vice President, Sales & Marketing
at Genta Incorporated, where he built and led the sales and
marketing function and negotiated a licensing and
co-development/co-marketing agreement with Aventis for the
company's lead product. He was previously Vice President of Sales
& Marketing at Celgene Corporation, where he built the
company's commercial and distribution infrastructure to support the
launch of its first product, Thalomid (thalidomide). Earlier in his
career, Mr. Williams was Executive Director, Marketing at Ortho
Biotech (subsidiary of Johnson & Johnson), where he led the
marketing of Procrit (epoetin alfa) from pre-approval through its
first year of $1 billion in sales. In addition to Motif Bio, Mr.
Williams currently serves on the board of Afaxys Incorporated. He
also serves on the Board of Trustees of Rutgers Preparatory School
and is Treasurer and Trustee of the Independent School Chair
Association. He holds an MBA from Columbia University and a
Bachelor of Arts degree in biology from Syracuse University.
For further information please contact:
Motif Bio plc ir@motifbio.com
Graham Lumsden (Chief Executive Officer)
Peel Hunt LLP (NOMAD & BROKER) + 44 (0)20 7418 8900
Dr Christopher Golden
Oliver Jackson
Walbrook PR Ltd. (UK FINANCIAL PR
& IR) +44 (0)20 7933 8780
Paul McManus/Helen Cresswell/Lianne motifbio@walbrookpr.com
Cawthorne
MC Services AG (EUROPEAN IR) +49 (0) 89 210 2280
Raimund Gabriel raimund.gabriel@mc-services.eu
Russo Partners (U.S. PR) +1 (858) 717-2310 or +1 (212)
845 4272
David Schull david.schull@russopartnersllc.com
Note to Editors:
About Motif Bio
Motif Bio plc (AIM/Nasdaq: MTFB) is a clinical-stage
biopharmaceutical company focused on developing novel antibiotics
designed to be effective against serious and life-threatening
infections caused by multi-drug resistant Gram-positive bacteria,
including MRSA. The Company's lead product candidate is iclaprim.
Motif Bio is seeking approval of iclaprim from the U.S. Food &
Drug Administration (FDA) for the treatment of acute bacterial skin
and skin structure infections (ABSSSI). More than 3.6 million
patients with ABSSSI are hospitalised annually in the U.S. It is
estimated that up to 26% of hospitalized ABSSSI patients have renal
impairment.
The Company also has plans to develop iclaprim for hospital
acquired bacterial pneumonia (HABP), including ventilator
associated bacterial pneumonia (VABP), as there is a high unmet
need for new therapies in this indication. A Phase 2 trial in
patients with HABP has been successfully completed and a Phase 3
trial is being planned. Additionally, iclaprim has been granted
orphan drug designation by the FDA for the treatment of
Staphylococcus aureus lung infections in patients with cystic
fibrosis and is in preclinical development for this indication.
Iclaprim has received Qualified Infectious Disease Product
(QIDP) designation from the FDA together with Fast Track status for
the ABSSSI indication. If approved for the ABSSSI indication as a
New Chemical Entity, iclaprim will be eligible for 10 years of
market exclusivity in the U.S. from the date of first approval,
under the Generating Antibiotic Incentives Now Act (the GAIN Act).
In Europe, 10 years of market exclusivity is anticipated. Motif is
also building a patent estate to provide additional protection for
iclaprim and has two U.S. method of use patents issued that will
expire in 2037.
Forward-Looking Statements
This press release contains forward-looking statements. Words
such as "expect," "believe," "intend," "plan," "continue," "may,"
"will," "anticipate," and similar expressions are intended to
identify forward-looking statements. Forward-looking statements
involve known and unknown risks, uncertainties and other important
factors that may cause Motif Bio's actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. Motif Bio believes that these factors
include, but are not limited to, (i) the timing, progress and the
results of clinical trials for Motif Bio's product candidates, (ii)
the timing, scope or likelihood of regulatory filings and approvals
for Motif Bio's product candidates, (iii) Motif Bio's ability to
successfully commercialise its product candidates, (iv) Motif Bio's
ability to effectively market any product candidates that receive
regulatory approval, (v) Motif Bio's commercialisation, marketing
and manufacturing capabilities and strategy, (vi) Motif Bio's
expectation regarding the safety and efficacy of its product
candidates, (vii) the potential clinical utility and benefits of
Motif Bio's product candidates, (viii) Motif Bio's ability to
advance its product candidates through various stages of
development, especially through pivotal safety and efficacy trials,
(ix) Motif Bio's estimates regarding the potential market
opportunity for its product candidates, (x) Motif Bio's ability to
raise additional capital to sustain its operations and pursue its
strategy and (xi) the factors discussed in the section entitled
"Risk Factors" in Motif Bio's Annual Report on Form 20-F filed with
the SEC on April 10, 2018, which is available on the SEC's web
site, www.sec.gov. Motif Bio undertakes no obligation to update or
revise any forward-looking statements.
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END
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