iDD biotech Strengthens Its Governance Structure And Appoints Paul Michalet As New Chairman Of The Management Board

LYON, France--(BUSINESS WIRE)--A new impetus to the development of iDD biotech

“iDD Biotech’s research and innovation excellence combined with its strong entrepreneurial spirit are key assets for the company’s future growth, as demonstrated by the agreement signed with Genmab in March this year”

iDD biotech, a French biopharmaceutical company developing innovative drugs based on antibodies, today announced it has appointed Paul Michalet as Chairman of the Management Board.

Paul Michalet has held a number of senior executive positions in the last 25 years. He had various responsibilities in finance for 10 years in manufacturing and service industries and, in the past 15 years, he held senior executive positions in biotechnology companies active in the chemical and cosmetics industries. He was most recently CFO in charge of the strategy and the business development of Fermentalg, a listed industrial biotech company listed in Compartment C of Eurolist Paris.

During his various senior positions, Paul Michalet negotiated several important license agreements and he achieved cumulative fund raising of over EUR200m, including 3 successful IPOs: Fermentalg in 2014, METabolicEXplorer in 2007 and Coletica in 2000 (today BASF Beauty Care Solutions)

“iDD Biotech’s research and innovation excellence combined with its strong entrepreneurial spirit are key assets for the company’s future growth, as demonstrated by the agreement signed with Genmab in March this year” said Paul Michalet. “I am very happy to join the company, rooted in the Rhône-Alpes region, home to my family, to strengthen its governance team, develop its partnerships and accelerate its growth.”

Paul Michalet is a graduate from ESC Montpelier business school. He is a member of the DFCG (France’s Finance Executives association) and the SFAF (France Society of Financial Analysts) and sits as an independent Director at the supervisory board of Biofilm-Control.

A new governance for iDD biotech

iDD biotech strengthened its governance by adopting a Supervisory Board and a Management Board to conduct the company’s new phase of growth:

• Jean-Pierre Lehner becomes Chairman of the Supervisory Board and Hélène Rouquette Vice-President.
• Paul Michalet becomes Chairman of the Management Board, and will also lead finance, business development and Claudine Vermot-Desroches, Vice-President, in charge of R&D.

About iDD biotech

iDD biotech is a biopharmaceutical company focused on developing innovative products in targeted immunotherapy, based upon monoclonal antibodies, for the treatment of cancer, autoimmune diseases and inflammation. The company is aiming at reinforcing the therapeutic arsenal and the pipeline of pharmaceutical companies.

iDD biotech owns key assets for its development : an extensive library of monoclonal antibodies with new potential targets, a portfolio of projects and patents, and several drug candidates.

With its technology platforms the company carries out the early stages of target validation and molecular and genetic engineering. It also produces antibodies for preclinical developments. Strong intellectual property is a significant component of these activities.

In particular, iDD biotech has developed an innovative combination in biotherapy which led to the signature of a first agreement with the biotechnology company Genmab, in March 2015.

Based in Lyon since its inception, iDD biotech is a member of Lyonbiopole, a world competitiveness healthcare cluster based in Rhône-Alpes (France), where it has developed close relationships with academic research institutes and world renowned clinicians. iDD biotech is recognized as a key member of the industrial cluster in therapeutic antibodies.

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