Dr Ignacio Faus appointed as new CEO of MOLOGEN AG
BERLIN--(BUSINESS WIRE)-- The Supervisory Board of biopharmaceutical Company Mologen AG appointed Dr Ignacio Faus as Member of the Executive Board and new Chief Executive Officer (CEO) of MOLOGEN AG with effect from August 1, 2018.
Dr Faus has more than 25 years of experience in the life science industry, with invaluable experience in fundraising, organizational planning, strategic project evaluation, operational efficiency, Business Development & Licensing (BD & L), etc. In 2006 he was one of the founders of PALAU PHARMA, a biopharmaceutical company in the inflammation and autoimmune disease space. For several years he managed the investment – operational – divestment life cycle of the company, until its final sale. He has also held a number of advisory roles, consulting engagements, and Board of Directors positions in several pharmaceutical, biotechnology and private equity organizations.
In his role as CEO of MOLOGEN, he will be in charge of Business Development, Investor Relations & Corporate Communications, Partnering, Production, and Strategy. Dr Mariola Söhngen has resigned from her post as Chairwoman of the Executive Board on July 31, 2018 and will leave the Executive Board effective October 31, 2018. In the interim period from August 1, 2018 to October 31, 2018, Dr Söhngen will provide support as an Executive Board Member without a specific area of responsibility, cooperating with Dr Faus to ensure a smooth transition of the chairmanship. Dr Söhngen had informed the Supervisory Board that she will not extend her position as member of the Executive Board and CEO of MOLOGEN AG beyond her initial contract ending on October 31, 2018.
Oliver Krautscheid, Chairman of the Supervisory Board of MOLOGEN AG: “We are delighted that Dr Faus, an extremely competent and international biotech and pharma manager, will be the new CEO. He is an ideal choice for this position with ample experience in the management of biopharmaceutical companies. He also brings most valuable skills to MOLOGEN. We would like to extend our special thanks to Dr Söhngen for her outstanding commitment and the tremendous job she has done by successfully transforming MOLOGEN from a research and development company to one with a product and market-orientation. We believe MOLOGEN is now well positioned for the future. We wish her all the best.”
“I am delighted to join MOLOGEN and look forward to working with a strong team, in order to advance the Company´s portfolio of R&D projects, and to succeed in creating value for our shareholders. The Company is at the forefront of the exciting field of immuno- oncology, with lefitolimod and other programs with great potential to address unmet medical needs and improve patient lives,” comments Dr Ignacio Faus.
After the completion of his PhD in Biochemistry in 1988 (Indiana University Bloomington, US), he achieved a Master of Business Administration (MBA) in Finance, Innovation and Marketing from Kellogg School of Management, Northwestern University, US in 1993, and also the CEO Executive Education Program (PDG) at IESE Business School in Barcelona (2004).
MOLOGEN AG is a biopharmaceutical Company and a pioneer in the field of immunotherapy on account of its unique active agents and technologies. Alongside a focus on immuno-oncology, MOLOGEN develops immunotherapies for the treatment of infectious diseases.
The focus of the development work is on the product family of DNA-based TLR9 agonists. This includes the lead compound lefitolimod and the next-generation molecule family EnanDIM®.
The immunotherapeutic agent lefitolimod is the Company’s lead compound and is currently being investigated in a pivotal trial. It is regarded as the best-in-class TLR9 agonist. Treatment with lefitolimod triggers a broad and strong activation of the immune system. On account of this mode of action, lefitolimod could potentially be used in various indications. Lefitolimod is currently being developed within the framework of a pivotal study for first line maintenance therapy for colorectal cancer. Key data of the phase II IMPULSE study in small cell lung cancer have been announced in April 2017, and the final analysis in the first quarter 2018 confirmed the data. Furthermore, data from the extension phase of the TEACH study in HIV have also been published in 2017. In addition, lefitolimod is currently being investigated in a phase I combination study with the checkpoint inhibitor ipilimumab (Yervoy®) in various cancer indications. Along with various checkpoint inhibitors, lefitolimod, which is being investigated as part of a phase III clinical trial currently, is one of the few near-to-market product candidates in the field of immuno-oncology.
MOLOGEN’s pipeline focus is on new innovative immunotherapies to treat diseases for which there is a great medical demand in particular.
MOLOGEN AG is a publicly listed Company, headquartered in Berlin. The shares (ISIN, DE000A2LQ900/SIN: A2L Q90) are listed in the Prime Standard of the German Stock Exchange.
Note about risk for future predictions
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Source: MOLOGEN AG