REG - Shield Therapeutics - Anders Lundstrom appointed CEO

Shield TherapeuticsAnnouncement

27/01/2025 07:00

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RNS Number : 6855U  Shield Therapeutics PLC  27 January 2025

Shield Therapeutics plc

("Shield" or the "Company" or the "Group")

 

Anders Lundstrom appointed CEO

 

London, UK, 27 January 2025: Shield Therapeutics plc (LSE: STX), a commercial
stage pharmaceutical company specialising in iron deficiency, announces that
Anders Lundstrom has been appointed as Chief Executive Officer (CEO) with
effect from 01 February 2025.

 

Anders joined the Board of Shield in May 2021 and was appointed as interim
Chief Executive Officer on 24 July 2024. He is based in Boston, Massachusetts
and has strong international and US senior commercial and general management
experience gained from a range of pharmaceutical and biotech companies
including AstraZeneca, Biogen and Orexo, where he was president and CEO. Upon
taking on the CEO role on a permanent basis Anders will step down from his
position as Chair of the Remuneration Committee which position will be taken
on by Dr. Christian Schweiger, one of the Company's non-executive Directors.

 

Since Anders' appointment in July, his leadership has been instrumental in
driving Shield's growth and operational efficiency. Under his guidance, the
Company has experienced increases in revenues and net pricing for ACCRUFeR®
in the United States and fostered strengthened relationships with key partners
and shareholders. These efforts have helped provide additional support to
Shield's long-term strategic goals. Anders has also played a pivotal role in
streamlining operations, positioning the Company for success as it works
towards its goal of becoming cash flow positive by the end of 2025.

 

Hans Peter Hasler, Non-Executive Chairman, commented: "We are grateful for
Anders' exceptional leadership over the past months and look forward to his
continued contributions in his new capacity as CEO and an Executive Director.
Anders' experience, insight, and dedication make him the ideal person to steer
Shield towards greater success in the future. Shield remains steadfast in its
mission to deliver exceptional results and meet the needs of our stakeholders.
With a solid foundation in place, we are confident that the Company is
exceptionally well-positioned to achieve its goals and continue to thrive in
the years to come."

 

Anders Lundstrom, Chief Executive Officer, commented: "We have worked hard to
streamline our cost base, grow ACCRUFeR® revenues, prescriptions, and average
net price in H2, as we strive towards becoming cash flow positive by the end
of this calendar year. I believe Shield is poised for significant growth, and
I look forward to working alongside our talented team and our partner Viatris
Inc., to build on the company's strong foundation. Together, we will focus on
advancing our mission, delivering value for our stakeholders, and making a
meaningful impact in the treatment of iron deficiency and making ACCRUFeR®
the oral iron of choice."

 

For further information please contact:

 

 Shield Therapeutics plc                                                                        www.shieldtherapeutics.com (http://www.shieldtherapeutics.com/)
 Anders Lundstrom, CEO                                                                          +44 (0) 191 511 8500

 Santosh Shanbhag, CFO                                                                          Investorrelations@shieldtx.com

 Stephanie Hicks, Investor Relations

 Nominated Adviser and Joint Broker
 Peel Hunt LLP
 James Steel / Patrick Birkholm                                                                 +44 (0)20 7418 8900

 Joint Broker                                                                                   +44 (0)20 7220 0500
 Cavendish Ltd
 Geoff Nash / Rory Sale / Nigel Birks / Harriet
 Ward

 Financial PR & IR Advisor
 Walbrook PR
 Alice Woodings / Lianne Applegarth                                                             +44 (0)20 7933 8780 or shield@walbrookpr.com (mailto:shield@walbrookpr.com)

 

About Iron Deficiency and ACCRUFeR®/FeRACCRU®

Clinically low iron levels (aka iron deficiency, ID) can cause serious health
problems for adults of all ages, across multiple therapeutic areas. Together,
ID and ID with anemia (IDA) affect about 20 million people in the US and
represent a $2.3B market opportunity. As the first and only FDA approved oral
iron to treat ID/IDA, ACCRUFeR® has the potential to meet an important unmet
medical need for both physicians and patients.

 

ACCRUFeR®/FeRACCRU® (ferric maltol) is a novel, stable, non-salt-based oral
therapy for adults with ID/IDA. The drug has a novel mechanism of absorption
compared to other oral iron therapies and has been shown to be an efficacious
and well-tolerated therapy in a range of clinical trials. More information
about ACCRUFeR®/FeRACCRU®, including the product label, can be found at:
www.accrufer.com (http://www.accrufer.com) and www.feraccru.com
(http://www.feraccru.com) .

 

About Shield Therapeutics plc

Shield is a commercial stage specialty pharmaceutical company that delivers
ACCRUFeR®/FeRACCRU® (ferric maltol), an innovative and differentiated
pharmaceutical product, to address a significant unmet need for patients
suffering from iron deficiency, with or without anemia. The Company has
launched ACCRUFeR® in the U.S. with an exclusive, multi-year collaboration
agreement with Viatris Inc. Outside of the U.S., the Company has licensed the
rights to four specialty pharmaceutical companies. FeRACCRU® is
commercialized in the UK and European Union by Norgine B.V., which also has
marketing rights in Australia and New Zealand. Shield also has an exclusive
license agreement with Beijing Aosaikang Pharmaceutical Co., Ltd., for the
development and commercialization of ACCRUFeR®/ FeRACCRU® in China, Hong
Kong, Macau and Taiwan, with Korea Pharma Co., Ltd. for the Republic of Korea,
and with KYE Pharmaceuticals Inc. for Canada.

 

ACCRUFeR®/FeRACCRU® has patent coverage until the mid-2030s.

ACCRUFeR®/FeRACCRU® are registered trademarks of Shield Therapeutics.

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