GENFIT: Further Details on Management Changes
Lille (France), Cambridge (Massachusetts, United States), September 26, 2018 – GENFIT (Euronext: GNFT - ISIN: FR0004163111) a biopharmaceutical group at the forefront of developing therapeutic and diagnostic solutions in metabolic and inflammatory diseases, that notably affect the liver or the gastrointestinal system, today provides further details on the management changes announced in its September 24, 2018 press release.
With respect to her resignation, Dr. Sophie Mégnien, Chief Medical Officer, commented: “My decision was entirely personal and is totally unrelated to Genfit or its R&D programs. To further specify, my departure is not related to an offer to join one of Genfit’s competitors. I would also like to take this opportunity to thank Genfit and its teams for a wonderful professional experience and I wish them the very best for the next stage of elafibranor’s development in which I have the utmost confidence.”
Jean-François Mouney, Chairman and CEO added: “We’d like to thank Sophie for the very active role she has played in considerably strengthening the clinical development department these last years and the energy she has spent sharing with them her expertise and knowledge of our programs. We recognize the value of these efforts which will undoubtedly be key in our continued development. We know, and the further details Sophie has provided today confirm, that she will continue to be supportive of the company. We are also pleased that the medical department is in good hands with Dr. Pascal Birman, having a long track record of success in the Pharma space, and that he can draw on the expertise of the many new team members who have joined the Group.”
GENFIT is a biopharmaceutical company focused on discovering and developing drug candidates and diagnostic solutions targeting liver diseases, in particular those of metabolic origin, and hepatobiliary diseases. GENFIT’s concentrates its R&D efforts in areas of high unmet medical needs corresponding to a lack of approved treatments. GENFIT’s lead proprietary compound, elafibranor, is a drug candidate currently being evaluated in one of the most advanced Phase 3 studies worldwide (“RESOLVE-IT”) in nonalcoholic steatohepatitis (NASH), considered by regulatory authorities as a medical emergency because it is silent, with potentially severe consequences, and with a prevalence on the rise. It is also evaluated in a Phase 2 study in Primary Biliary Cholangitis (PBC), a rare liver disease. As part of its comprehensive approach to clinical management of NASH patients, GENFIT is conducting an ambitious discovery and development program aimed at providing patients and physicians with a blood-based test for the diagnosis of NASH, i.e. noninvasive and easy-to-access. With facilities in Lille and Paris, France, and Cambridge, MA (USA), the Company has approximately 130 employees. GENFIT is a public company listed in compartment B of Euronext’s regulated market in Paris (Euronext: GNFT - ISIN: FR0004163111). www.genfit.com
FORWARD LOOKING STATEMENT / DISCLAIMER
This press release contains certain forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking statements. These risks and uncertainties include among other things, the uncertainties inherent in research and development, including related to biomarkers, progression of, and results of clinical data from, the RESOLVE-IT trial and the trial of elafibranor in PBC, review and approvals by regulatory authorities, such as the FDA or the EMA, regarding in particular, elafibranor in NASH and PBC, as well as other drug candidates in other indications and biomarkers candidates, the success of any inlicensing strategies, the Company’s continued ability to raise capital to fund its development, as well as those discussed or identified in the Company’s public filings with the AMF, including those listed in Section 4 “Main Risks and Uncertainties” of the Company’s 2017 Registration Document registered with the French Autorité des marchés financiers on April 27, 2018 under n° R.18-032, which are available on GENFIT’s website (www.genfit.com) and on the website of the AMF (www.amffrance.org) as updated by the 2018 Half Year Report available on GENFIT’s website in the “Investors” section. Other than as required by applicable law, the Company does not undertake any obligation to update or revise any forward-looking information or statements. This press release and the information contained herein do not constitute an offer to sell or a solicitation of an offer to buy or subscribe to shares in GENFIT in any country. This press release has been prepared in both French and English. In the event of any differences between the two texts, the French language version shall supersede.
CONTACT GENFIT | Jean-François Mouney – Chairman & CEO | +333 2016 4000
PRESS RELATIONS | Bruno Arabian | Ulysse Communication | +336 8788 4726