REG - Shield Therapeutics - Appointment of new Chief Financial Officer

Shield TherapeuticsAnnouncement

09/01/2024 07:00

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RNS Number : 9952Y  Shield Therapeutics PLC  09 January 2024

 

 

Shield Therapeutics plc

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

 

Appointment of new Chief Financial Officer

 

Accomplished Finance Executive brings 20+ years of broad and relevant
experience

 

London, UK, 09 January, 2024:  Shield Therapeutics plc (LSE: STX,
"Shield"), a commercial stage pharmaceutical company that delivers
Accrufer®/Feraccru® (ferric maltol), an innovative and differentiated
specialty pharmaceutical product, to address a significant unmet need for
patients suffering from iron deficiency (with or without anemia), announces
the appointment of Santosh Shanbhag as Chief Financial Officer ('CFO'). Mr.
Shanbhag, who will assume the position on 16 January 2024, will oversee the
Company's financial operations and serve as a member of the Executive
Leadership Team.

 

Mr. Shanbhag is a senior financial executive with 20+ years of experience
leading financial operations for both U.S. and international organizations,
has completed fundraisings for both private and public companies, and helped
execute complex business programs for transformative healthcare companies to
support organizational growth and maximize organizational and capital
efficiency.

 

Prior to joining Shield, Mr. Shanbhag was CFO of Nasdaq listed Akili, Inc.,
where he helped transform the company from a private to a public entity,
raise capital to support its business aspirations, and was also responsible
for corporate and business development. Before Akili, Mr. Shanbhag
held senior finance leadership roles at Vertex Pharmaceuticals,
including as Vice President and Head of International Finance and Accounting,
where he helped in building out the international business and secure
reimbursement for novel medicines in key international markets. Mr. Shanbhag
has also served in positions of increasing responsibility at Capgemini
Consulting and Texas Instruments. He holds an M.S. in Management &
Engineering from MIT and Sloan School of Management, and an M.S. in Mechanical
Engineering from the University of Massachusetts, Amherst.

 

Greg Madison, Chief Executive Officer, commented: "As we look to build on the
impressive growth of Accrufer®, I am pleased to have Santosh joining the
executive team as a key partner. The breadth of his experience in finance,
capital markets, commercial, reimbursement and corporate development from his
roles at Akili and Vertex, coupled with his keen operations acumen and strong
life sciences background, make him an ideal addition to the executive
leadership team at Shield."

 

Santosh Shanbhag said: "I am delighted to join Shield at this time in the
Company's growth trajectory. Building healthcare businesses that transform
patient care is my passion. I believe Accrufer® is transforming the care of
people with iron deficiency and I look forward to working with Greg and the
entire management team to leverage my experience with high growth
organizations to continue to build our business and deliver value for patients
and shareholders."

 

For further information please contact:

 

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

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

 Joint Broker

 Cavendish Ltd

 Geoff Nash/George Dollemore/Nigel Birks/Harriet                                                +44 (0)20 7220 0500
 Ward

 Financial PR & IR Advisor
 Walbrook PR
 Paul McManus/Charlotte Edgar/                                                                  +44 (0)20 7933 8780 or shield@walbrookpr.com (mailto:shield@walbrookpr.com)

 Alice Woodings

 Investor Contact (US Advisor)

 LifeSci Advisors, LLC

 Joyce Allaire                                                                                  jallaire@lifesciadvisors.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 U.S. 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. Accrufer®/Feraccru® 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 commercial
agreement with Viatris Inc. (Viatris). 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. (Norgine), 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 (Korea Pharma); and with KYE Pharmaceuticals Inc. for Canada.

 

Accrufer®/Feraccru® has patent coverage until the mid-2030s.

Accrufer®/Feraccru® are registered trademarks of Shield Therapeutics.

 

Forward-Looking Statements

This press release contains forward-looking statements. All statements
contained in this press release that do not relate to matters of historical
fact should be considered forward-looking statements.  These forward-looking
statements are based on management's current expectations and include
statements related to the commercial strategy for Accrufer®/Feraccru®. These
statements are neither promises nor guarantees, but involve known and unknown
risks and uncertainties, many of which are beyond our control, that may cause
actual results and performance or achievements to be materially different from
management's expectations expressed or implied by the forward-looking
statements, including, but not limited to, risks associated with the Company's
business and results of operations, competition and other market factors.
The forward-looking statements made in this press release represent
management's expectations as of the date of this press release, and except as
required by law, the Company disclaims any obligation to update any
forward-looking statements contained in this release, even if subsequent
events cause its views to change.

 

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