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.
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For inquiries, please contact
John McDonough, Chairman of the Board of Directors
investor@bioporto.com
P: +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.
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