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MarketScreener Homepage  >  Equities  >  Euronext Bruxelles  >  Oxurion NV    OXUR   BE0003846632

OXURION NV

(OXUR)
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Oxurion NV appoints Tom Graney, CFA as Chief Financial Officer

10/14/2020 | 12:24pm EST

Belgium - Oxurion NV (Euronext Brussels: OXUR), a biopharmaceutical company developing next generation standard-of-care therapies for Diabetic Macular Edema (DME), is pleased to announce the appointment of Tom Graney as its Chief Financial Officer (CFO).

Mr. Graney will begin his role on 14th October and will be based in Boston, MA, US. He will succeed Dominique Vanfleteren who, according to plan, is leaving Oxurion to pursue other interests.

Mr. Graney will be responsible for the extension and execution of the financial strategy to support Oxurion's ambitious global growth plans, including the important US market.

Tom has over 25 years' experience in senior finance, strategy and operational roles including capital raising, accounting, and audit. He most recently served as CFO at Generation Bio (NASDAQ: GBIO), a non-viral gene therapy company based in Cambridge, MA, where he led all of the company's financial operations.

Prior to joining Generation Bio, Tom was Senior Vice President (SVP) and CFO at Vertex Pharmaceuticals (NASDAQ: VRTX), one of the world's most highly valued biotech companies, with a multi-billion-dollar turnover. At Vertex Tom was responsible for financial strategy and operations including finance, accounting, and internal audit functions.

Prior to Vertex, he was the CFO and SVP of Finance and Corporate Strategy at Ironwood Pharmaceuticals (NASDAQ: IRWD), a GI-focused healthcare company. Before joining Ironwood, Tom spent 20 years with Johnson & Johnson, serving in various roles in the US and abroad, including being Worldwide VP of Finance and CFO of Ethicon, a major medical device company, and VP and CFO of Janssen Pharmaceuticals NA, a major pharmaceutical company in North America.

Tom is currently on the board of AC Immune SA (NASDAQ: ACIU), a clinical stage Swiss biopharmaceutical company focused on neurodegenerative diseases.

Tom holds a Bachelor of Science degree in accounting from the University of Delaware and a Master of Business Administration in marketing, finance, and international business from the Leonard N. Stern School of Business at New York University. Tom is also a CFA charter holder.

'We are delighted to welcome Tom to Oxurion. I am convinced that Tom's significant financial management and US capital markets experience will enable him to play a crucial role in the successful execution of our plans to develop the industry-leading franchise for the treatment of DME, currently a $4.5 billion annual market opportunity. With both Tom and Grace, our recently appointed CMO, being based in the US, we are starting to build the transatlantic organization we need to deliver on our global ambition.

On behalf of the Board I would like to take this opportunity to thank Dominique for his contribution to Oxurion over the last 5 years and for agreeing to support us to ensure a smooth transition. I would like to wish him every success in his future career.' said Dr Patrik De Haes, CEO of Oxurion.

Tom Graney, the newly appointed CFO of Oxurion, added: 'I am excited to have the opportunity to work with Patrik and the team at Oxurion. With THR-149 and THR-687, I believe Oxurion has two highly differentiated new drug candidates that have the potential to address the needs of nearly all patients with DME, a serious sight threatening condition. I am looking forward to using my experience to ensure Oxurion has continued access to the financial resources needed to achieve its ambitious corporate goals.'

Oxurion Virtual R&D Investor Day to take place on Thursday 15th October 2020 at 5.30 p.m. CET/ 11.30 a.m. ET

Contact:

Dr Patrik De Haes

Tel: +32 16 75 13 10

About Oxurion

Oxurion (Euronext Brussels: OXUR) is a biopharmaceutical company developing next generation standard of care ophthalmic therapies, which are designed to better preserve vision in patients with diabetic macular edema (DME), the leading cause of vision loss in diabetic patients worldwide.

Oxurion is building a leading global franchise in the treatment of DME, based on the successful development of its two novel therapeutics: THR-149, a plasma kallikrein inhibitor being developed as a potential new standard of care for DME patients who respond sub-optimally to anti-VEGF therapy.

THR-149 has shown positive topline Phase 1 results for the treatment of DME. The Company is currently conducting a Phase 2 clinical trial evaluating THR-149 with DMEpatients who previously responded sub-optimally to anti-VEGF therapy. THR-149 was developed in conjunction with Bicycle Therapeutics PLC (NASDAQ: BCYC).

THR-687, is a pan-RGD integrin inhibitor, that is initially being developed as a potential new standard of care for all DME patients.

Positive topline results in a Phase 1 clinical study assessing THR-687 as a treatment for DME were announced in January 2020. THR-687 is expected to enter a Phase 2 clinical trial by mid-2021. THR-687 is an optimized compound derived from a broader library of integrin inhibitors in-licensed from Galapagos NV (Euronext & NASDAQ: GLPG).

Oxurion is headquartered in Leuven, Belgium, and is listed on the Euronext Brussels exchange under the symbol OXUR.

Important information about forward-looking statements

Certain statements in this press release may be considered 'forward-looking'. Such forward-looking statements are based on current expectations, and, accordingly, entail and are influenced by various risks and uncertainties. The Company therefore cannot provide any assurance that such forward-looking statements will materialize and does not assume an obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or any other reason. Additional information concerning risks and uncertainties affecting the business and other factors that could cause actual results to differ materially from any forwardlooking statement is contained in the Company's Annual Report. This press release does not constitute an offer or invitation for the sale or purchase of securities or assets of Oxurion in any jurisdiction. No securities of Oxurion may be offered or sold within the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption therefrom, and in accordance with any applicable U.S. state securities laws.

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
BICYCLE THERAPEUTICS PLC -4.74% 19.69 End-of-day quote.108.80%
GALAPAGOS NV -1.28% 100.05 End-of-day quote.-45.66%
GENERATION BIO CO. -1.92% 50.62 End-of-day quote.0.00%
IRONWOOD PHARMACEUTICALS, INC. -0.39% 11.58 End-of-day quote.-13.00%
OXURION NV -3.45% 2.8 End-of-day quote.-1.69%
VERTEX PHARMACEUTICALS 0.08% 226.87 End-of-day quote.3.62%
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Financials
Sales 2020 - - -
Net income 2020 -36,2 M -44,1 M -44,1 M
Net Debt 2020 - - -
P/E ratio 2020 -3,15x
Yield 2020 -
Capitalization 111 M 135 M 135 M
Capi. / Sales 2020 -
Capi. / Sales 2021 -
Nbr of Employees 77
Free-Float 79,5%
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Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 7,50 €
Last Close Price 2,90 €
Spread / Highest target 314%
Spread / Average Target 159%
Spread / Lowest Target 3,45%
EPS Revisions
Managers
NameTitle
Patrik de Haes Chief Executive Officer & Executive Director
Thomas Moragne Clay Independent Non-Executive Chairman
Thomas Graney Chief Financial Officer
Jean Feyen Chief Scientific Officer
Grace Chang Chief Medical Officer
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