BiondVax Pharmaceuticals Ltd (BVXV)

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BiondVax Announces Appointment of Amir Reichman as New CEO

January 21 2021 - 07:15AM

https://finance.yahoo.com/news/biondvax-announces-appointment-amir-reichman-121500032.html

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JERUSALEM, Jan. 21, 2021 /PRNewswire/ -- BiondVax Pharmaceuticals Ltd. (Nasdaq: BVXV), a biopharmaceutical company focused on development and manufacturing of products for the prevention and treatment of infectious diseases, today announced the appointment of Amir Reichman as its new CEO. Mr. Reichman and Ron Babecoff, BiondVax's founder and current CEO, will share duties during a transition period while Mr. Reichman completes his work obligations at GlaxoSmithKline (GSK), a global pharmaceutical company. Effective March 2, 2021, Mr. Reichman will assume the CEO position full time and Mr. Babecoff will continue as Senior Advisor to the Company.

BiondVax Announces Appointment of Amir Reichman as New CEO (PRNewsfoto/BiondVax Pharmaceuticals Ltd.)

Born and educated in Israel, Mr. Reichman currently serves as Head of Global Vaccines Engineering Core Technologies and Asset Management at GSK Vaccines headquarters in Belgium. Prior to his current role in global vaccines engineering, he served as Senior Director Global GSK Vaccines Supply Chain. Mr. Reichman joined GSK in 2015 after its acquisition of Novartis Vaccines. At Novartis Vaccines, he held various leadership roles of increasing responsibility in its Global Vaccines Supply Chain Management organization located in Holly Springs, NC, USA. In 2003, Mr. Reichman's academic work at Ben Gurion University of the Negev contributed to the founding of NeuroDerm Ltd., an Israeli company focused on transdermal drug delivery systems that was acquired by Mitsubishi Tanabe Pharma in 2017 for $1.1B. He was NeuroDerm's first employee and served as the company's Chief Engineer and Senior Scientist until his departure in 2009. Mr. Reichman earned an M.Sc. in Biotechnology Engineering from the Ben-Gurion University of the Negev in Israel, and an MBA in Finance and Health Care Management from the Wharton School of the University of Pennsylvania, USA.

Mr. Mark Germain, BiondVax's Chairman of the Board, commented, "The Board of Directors is extremely pleased that Amir has accepted the opportunity to lead BiondVax. After many years abroad, in which he gained pharmaceutical industry senior leadership experience at Novartis and GSK, his return to Israel comes at an auspicious time for BiondVax. Amir's capabilities align closely with our vision of growing BiondVax into a multi-asset biopharmaceutical company with a focus on infectious diseases. Together, we are already working diligently to expand our pipeline in the infectious diseases space by leveraging our assets, including our vaccine manufacturing facility, IP, people and extensive drug development experience."

Germain continued, "On behalf of the Board, I wish to thank and commend Ron for his unyielding dedication in founding BiondVax and leading it through preclinical development to eight clinical trials, construction of our state-of-the-art GMP vaccine manufacturing facility, as well as TASE and Nasdaq listings. A number of Ron's accomplishments were unprecedented for an Israeli company and I think would compare favorably with the best in breed biotech companies anywhere, including the 12,400 participant, 105 site, seven country Phase 3 clinical trial that was conducted on time and on budget in the face of the growing threat of COVID-19, and the €24m European Investment Bank (EIB) non-dilutive financing agreement which was the first such EIB agreement with a non-EU country. Ron's experience, knowledge and contribution as Senior Advisor will provide ongoing significant value to the Company and I look forward to continuing a strong, productive and beneficial working relationship."

Mr. Amir Reichman noted, "I am extremely excited and thrilled to assume the role of BiondVax's CEO. Thanks to the strong foundations built by Ron and his team, as well as the experience and ongoing support of our Board of Directors, BiondVax has tremendous potential to grow into a leading pharmaceutical company. Our mission at BiondVax is to create a healthier world by preventing and curing infectious diseases. To do that, I envision BiondVax becoming a world player; a trusted and preferred bio-pharma company known for its highly innovative products, fast product development, and reliable supply of high-quality and effective medicinal products. While results of the M-001 vaccine candidate's Phase 3 trial were disappointing, our team has gained many strengths and experience in innovative product research, preclinical and clinical development, and GMP manufacturing in our state-of-the-art facility in Jerusalem. These organizational capabilities are key for a successful turnaround. We continue to believe there is a compelling need and demand for vaccines and therapeutics for infectious diseases, and we are currently exploring various potential paths forward including collaborations and other opportunities to build a new product pipeline that will help us achieve our mission. I wish to thank the board for their trust, and Ron for his support as I transition into the CEO role."

Dr. Ron Babecoff commented, "After dedicating eighteen years towards the project of developing a universal flu vaccine, including fifteen as BiondVax's President and CEO, I feel it is the right time to hand over leadership of the Company to Amir, who I believe has the right personality and experience to lead BiondVax to its next phase. I am proud of our accomplishments over the many years of intensive R&D activities from preclinical through a Phase 3 clinical trial, international collaborations such as with the NIH and the EIB, as well as construction of a new state-of-the-art vaccine manufacturing facility in Jerusalem. I would like to express my deep gratitude to my devoted team with whom we achieved so much over the years. I also wish to thank BiondVax's board members and scientific advisory board, both current and previous, as well as our shareholders, and our many other stakeholders for their continuous support. Finally, I look forward to seeing BiondVax reach its new ambitious goals for the sake of improving global health."