Probiodrug AG announced that effective May 1, 2018, Dr. Ulrich Dauer will be appointed the position of Chief Executive Officer. He will team up with Chief Development Officer, Dr. Inge Lues, who has borne key responsibility for development of the company's pipeline. Dr. Dauer brings more than 20 years of biopharmaceutical industry experience to the company.

The company's current CEO and co-founder of the company, Dr. Konrad Glund, will retire effective April 30, 2018, but will continue to serve the company in an advisory role. The company's current CFO, Dr. Hendrik Liebers, by mutual agreement will resign from the Management Board effective April 30, 2018, and he will also continue in an advisory role.