Hugo Petit Appointed CFO of OxThera

STOCKHOLM, September 7, 2018 /PRNewswire/ -- OxThera AB, a Stockholm-based privately-held rare disease company today announced the appointment of Hugo Petit as its new Chief Financial Officer. Mr Petit previously served as the Chief Financial Officer of MedCap AB. While at MedCap, Hugo led the company's listing on Nasdaq Stockholm. Prior to joining MedCap, Hugo held several roles as Chief Financial Officer in small as well as medium sized companies. Earlier in his career, Hugo also spent several years as consultant at McKinsey & Company in Stockholm. 

"It is my pleasure to welcome Hugo as CFO of OxThera," said Matthew Gantz, CEO of OxThera. "His ​strong financial and business background in both small and larger companies and recent experience as CFO of a publically listed life sciences company will help accelerate OxThera's growth as it further builds additional capabilities to support our ambitions."

"I am excited to join OxThera at this important stage in its development of Oxabact," said Mr Petit. "Primary Hyperoxaluria is a devastating disease for patients and their families and I truly hope that we can make a real difference and deliver on the promise of this new therapy."

About OxThera  OxThera is developing a novel treatment, Oxabact, for Primary hyperoxaluria (PH), a severe and often fatal disease in children, and where there are currently no available therapies. The company has initiated a pivotal Phase III study (EpHEX) in PH with Oxabact in order to stop and/or delay disease progression.

Oxabact is an oral product, composed of highly concentrated freeze-dried live bacteria (Oxalobacter formigenes). This commensal bacteria promotes the enteric elimination of oxalate, thereby reducing the oxalate burden in the kidneys.

PH is a rare autosomal recessive disorder leading to markedly elevated levels of endogenous oxalate causing kidney deterioration and a gradual calcification of soft tissues. If left untreated, the disease can cause kidney failure and premature death. Currently, the sole available cure is a combined transplantation of liver and kidneys.

Oxabact holds orphan drug designations in the EU and the US for the treatment of PH, and in EU for treatment of Short Bowel Syndrome (SBS).

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