Appointment of Chief Commercial Officer

RNS Number : 3892V

Shield Therapeutics PLC

05 April 2023

 

Shield Therapeutics plc

("Shield" or the "Company" or the "Group")

Appointment of Chief Commercial Officer

Update on US salesforce expansion

-  Proven commercial leader with a proven track record of delivering successful product launches

-  Will oversee all US commercial operations with focus on Accrufer® adoption and expansion

-  Recruitment of expanded field sales team on track to achieve goal of completing all hires by 1 May

London, UK, 5 April, 2023: Shield Therapeutics plc (LSE: STX), a commercial stage pharmaceutical company focused on the commercialisation of its innovative oral iron therapy for iron deficiency, Accrufer®/Feraccru® (ferric maltol), announces that Mr. Andy Hurley will be joining Shield's Executive Team as Chief Commercial Officer, effective from the 10 April 2023. Andy brings to Shield three decades of experience as a strategic commercial leader at both large and small biopharmaceutical companies. Andy will oversee Shield's commercial organisation with responsibility for US sales, marketing, operations, managed markets and patient services.

Andy Hurley joins Shield from Agenus Inc ("Agenus"), where he was Chief Commercial and Medical/Clinical Officer. At Agenus he was responsible for leading the commercial, medical affairs and clinical operations functions and was leading the company as it prepared for multiple immuno-oncology product launches. Prior to Agenus, Andy was Senior Vice President of a commercial division at Syneos Health where he led a global team that launched nine products across several therapeutic areas during his tenure at the company. Before that, he was Chief Commercial Officer at Ocular Therapeutix where he helped the organisation in preparing the company for its first pharmaceutical launch. Andy has also held senior leadership roles across marketing, sales, and operations functions at Sunovion, Dyax, NitroMed and Forest Pharmaceuticals. Andy has a Bachelor of Science in Consumer Studies from the University of Vermont and did post-graduate work in Finance and Marketing at Bentley University's McCallum Graduate School of Business.

Update on US salesforce expansion

Shield also announces continued progress on the US salesforce expansion and the goal of having the newly expanded field sales team of 100 (50 from Shield, 50 from Viatris), along with 12 Regional Sales Managers (6 from each company), hired and trained by 1 May 2023. From the Shield side, as of 1 April 2023, Shield now has 33 dedicated sales representatives and 5 Regional Sales Managers (RSM) currently promoting Accrufer® to Women's Health and General Practitioners in the US. The remaining 17 sales professionals and 1 RSM are on track to be hired and trained by 1 May 2023.

Greg Madison, Chief Executive Officer, Shield Therapeutics said: "We are excited to have Andy as our new Chief Commercial Officer with his proven track record of delivering successful product launches and exceptionally strong set of commercial skills and experience. I have no doubt he will make a tremendous impact as we advance our commercial efforts in the US and expand the international growth of Accrufer®. Initiation of the collaborative US sales agreement with Viatris has set Accrufer® up for a strong 2023 growth in prescriptions and product sales.  With the recruitment of our team of dedicated sales professionals well underway, we are pleased to be on track to achieve our salesforce expansion goals by 1 May 2032.   Andy's appointment further strengthens our commitment to making a commercial success of Accrufer."

Andy Hurley commented: "I am inspired by Shield's impressive progress, growth and commitment to helping patients. With strong clinical efficacy, a broad label and differentiated product profile, Shield has positioned Accrufer® to deliver on its vision to be the oral iron of choice. I am looking forward to working with this talented team to contribute to the Company's commercial growth strategy and future success."

For further information please contact:

Shield Therapeutics plc	www.shieldtherapeutics.com
Greg Madison, CEO	[phone]
Hans-Peter Rudolf, CFO
Nominated Adviser and Joint Broker
Peel Hunt LLP
James Steel/Oliver Duckworth	[phone]
Joint Broker finnCap Ltd  Geoff Nash/ George Dollemore/Alice Lane/Nigel Birks	[phone]
Financial PR & IR Advisor
Walbrook PR
Lianne Applegarth/Alice Woodings	[phone] or  [e-mail]
Investor Contact (US Advisor) LifeSci Advisors, LLC John Mullaly	[phone] or [e-mail]

About Accrufer®/Feraccru®

Accrufer®/Feraccru® (ferric maltol) is a novel, stable, non-salt based oral therapy for adults with iron deficiency, with or without anemia. Accrufer®/Feraccru® has a novel mechanism of action compared to other oral iron therapies and has been shown to be an efficacious and well-tolerated therapy in a range of clinical trials. More information about Accrufer®/Feraccru®, including the product label, can be found at: www.accrufer.com and www.feraccru.com

About Shield Therapeutics plc

Shield is a commercial stage pharmaceutical company focused on the commercialisation of Accrufer®/Feraccru® (ferric maltol), an innovative oral iron therapy for iron deficiency differentiated from other irons by its efficacy, broad label and well-tolerated formulation.The Group has launched Accrufer® in the US with an exclusive, multi-year collaboration agreement with Viatris, Inc. Feraccru® is commercialised in the UK and European Union by Norgine B.V., that also have the marketing rights in Australia and New Zealand. Shield also has an exclusive license agreement with Beijing Aosaikang Pharmaceutical Co., Ltd., for the development and commercialisation of Accrufer®/Feraccru® in China, Hong Kong, Macau and Taiwan, with Korea Pharma Co., Ltd. for the Republic of Korea, and with KYE Pharmaceuticals Inc. for Canada.

Accrufer®/Feraccru® has patent coverage until the mid-2030s

Accrufer®/Feraccru® are registered trademarks of the Shield Group

Forward-Looking Statements

This press release contains forward-looking statements. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements.  These forward-looking statements are based on management's current expectations and include statements related to the commercial strategy for Accrufer®/Feraccru®. These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties, many of which are beyond our control, that may cause actual results and performance or achievements to be materially different from management's expectations expressed or implied by the forward-looking statements, including, but not limited to, risks associated with the Group's business and results of operations, competition and other market factors.  The forward-looking statements made in this press release represent management's expectations as of the date of this press release, and except as required by law, the Group disclaims any obligation to update any forward-looking statements contained in this release, even if subsequent events cause its views to change.

 

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