Healthcare Industry News: mitochondrial diseases
News Release - November 7, 2017
NeuroVive Board Chair Resigns, New Chair ElectedLUND, Sweden, Nov. 07, 2017 -- (Healthcare Sales & Marketing Network) -- NeuroVive Pharmaceutical AB (Nasdaq Stockholm: NVP, OTCQX: NEVPF) announces that Gregory Batcheller resigned as Chair of the NeuroVive Pharmaceutical AB Board effective midnight November 6, 2017. He had served as the Executive Chair of NeuroVive for the past 17 years. He was one of the last original Board members since the founding. He was affiliated to the company and Management. Mr. Batcheller is one of the larger shareholders in NeuroVive.
Mr. Batcheller guided the company from a private company through its listing on the Aktietorget stock exchange, and its uplisting to the Stockholm NASDAQ Small Cap. He spearheaded many of the previous Asia initiatives. He did not accept his Board fees, and received remuneration instead through his consulting work for the company. Mr. Batcheller has degrees in law from Lund University, and the University of Toronto. He is also the chair of the Board of two other companies in Sweden, and is a serial entrepreneur.
Baulos Capital and Maas Biolab are two of the larger shareowner groups. Fredrik Olsson of Baulos Capital and Marcus Keep of Maas Biolab are grateful to Greg for his many years of service and his leadership of the Board on behalf of the company and its shareholders. Mr. Olsson also served one year as member of the Board. Marcus Keep has been a member of the Board for 17 years.
Baulos and Maas in particular seek for the NeuroVive Board to have a new perspective going forward. Board independence from Management is thought to be important for the balance of each component to function best. Baulos and Maas are looking to focus on bringing NeuroVive's internal scientific discoveries to license partners and the markets.
Following Mr. Batcheller's resignation, the remaining four members of the Board of NeuroVive, unanimously elected sitting Board member, David Laskow-Pooley, as Chair. Mr. Laskow-Pooley will complete the term as Chair through the annual general shareholder meeting in April 26, 2018, when the Board is reconstituted on an annual basis. David is independent from Management.
Mr. Laskow-Pooley has been on the NeuroVive Board since 2016. He serves on the Boards of one American and two British companies. David has previous multiyear experience as Chair of the Board at several British companies. He is trained as a pharmacist, and is a QP (Qualified Person). David has worked at large pharma including GlaxoSmithKline, Abbot, and Amersham, as well as smaller biotechnology companies. Mr. Laskow-Pooley has special expertise in bringing radiation oncology treatments to market. His roles have spanned corporate fund raising, strategic positioning, discovery, manufacture and sale of pharmaceutical products, diagnostics and devices.
Mr. Laskow-Pooley said "It is an honor to be appointed as Chair by my peers. I will carry forward Greg's good work, and add in my capabilities toward the best performance of NeuroVive possible. I look forward to working with our Board, Management, and partners, to achieve the best outcome, for the patients who need our drugs, and for our shareholders."
This information is information that NeuroVive Pharmaceutical AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of Daniel Schale, Directors of Communication, at 08:30 a.m. CET on 07 November 2017.
NeuroVive Pharmaceutical AB is a leader in mitochondrial medicine, with one project in clinical phase II development for the prevention of moderate to severe traumatic brain injury (NeuroSTAT®) and one project in clinical phase I (KL1333) for genetic mitochondrial diseases. The R&D portfolio consists of several late stage research programs in areas ranging from genetic mitochondrial disorders to cancer and metabolic diseases such as NASH. The company's strategy is to advance drugs for rare diseases through clinical development and into the market. The strategy for projects within larger indications outside the core focus area is out-licensing in the preclinical phase. NeuroVive is listed on Nasdaq Stockholm, Sweden (ticker: NVP). The share is also traded on the OTCQX Best Market in the US (OTC: NEVPF).
Source: NeuroVive Pharmaceutical
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