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Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) is proud to announce the publication of a pivotal research article in the prestigious Journal of Cosmetic Dermatology .
About the Study
Hydration solutions company The Hydration Pharmaceuticals Company Limited (ASX: HPC) (“Hydralyte North America” or “the Company”) is pleased to provide the following update on the six-month period ended 30 June 2024 (the “half year” or “H1 FY2024”) and the Company’s Appendix 4D.
KEY HIGHLIGHTS
- 34% reduction in EBITDA loss to $2.4m (H1 2023: $3.6m) through stated strategy to reduce expenditure and drive cost efficiencies
- 29% or $0.8m previous corresponding period (“PCP”) reduction in net cash used in operating activities to $2.1m with continuing improvements being implemented
- Gross margin increase of 4ppt from PCP to 53% (1H 2023: 49%), a result of multiple margin improvement strategies coming to fruition
- Net sales of $5.0m with increases expected to be realised during H2 2024
- 52% ($0.4m) growth in Canadian ecommerce revenue from the PCP to $1.1m (H1 2023: $0.7m) driven by strong demand for the product in the ecommerce channel combined with effective and efficient marketing and advertising spend
- Launch of new consolidated Amazon packaging during the period expected to save 4ppt in margin on Amazon sales in US and Canada
- Advanced negotiations in progress for either the sale of the Company or a strategic divesture of assets
Financial overview:
With a continued focus on profitability and cash preservation, the Company achieved its lowest half-year expenditure since listing. This was highlighted by a 34% year-on-year (“YoY”) reduction in EBITDA loss to $2.4m (H1 2023: $3.6m), marking strong execution of the Company’s stated strategy to reduce expenditure and push towards profitability.
Gross margin as a percentage of net sales increased by 4ppt YoY to 53% (H1 2023: 49%). This was despite the negative impact of stock keeping unit (“SKU”) reductions resulting in a cost of goods increase of $0.4m during the period. SKU reductions are part of the continued effort to improve cash flow and profitability by eliminating the lowest performing products.
The Company’s ongoing review of marketing expenditure was another key aspect in the improved cash flow and reduction in losses. As a percentage of net sales, YoY marketing spend decreased by 11ppt to $1.5m. This equated or 31% of net sales (1H 2023 marketing spend: 42% of net sales or $2.2m).
During the period, the Company implemented additional reductions in marketing spend and margin improvements and anticipates that these combined efforts will be realised in the coming months.
Appendix 4D and FY24 Half Year Financial Report
Click here for the full ASX Release
This article includes content from The Hydration Pharmaceuticals Company Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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Hydralyte International
Overview
Hydralyte International (ASX:HPC) is an ASX-listed rapid hydration solutions business focused on the lucrative North American market. With an established supply chain in Canada and the United States, the company consolidated its market position in FY23 with a 10 percent increase in net sales to $10 million. The impressive increase in group sales was achieved with a disciplined cost focus which flowed through to a significant US$5.7 million in cash savings. And there was ongoing momentum in the first quarter of FY24, with consistent growth in net sales to US$2.17 million on strong gross margins of 56 percent.
Hydralyte’s multi-channel distribution strategy includes a targeted growth through ecommerce. Its rapid rehydration product has been the number one SKU in the hydration category on Amazon Prime Day in Canada, where it's the number two hydration brand overall with a 21 percent market share. Starting on Prime Day, Hydralyte delivered ~US$140,000 in gross sales over 48 hours.
It's also worth noting that all this revenue growth – alongside a partnership with Shay Mitchell – occurred with an ongoing reduction in marketing expenditure. In 2024, marketing costs as a percentage of net revenue decreased to 37 percent from 48 percent in Q1 2023. This is due in part to the company's solid leadership team, featuring professionals with decades of expertise in health and wellness, as well as heavy brand investments which have been made throughout 2022.
In Australia, New Zealand and parts of Southeast Asia, Prestige Consumer Healthcare (NYSE:PBH) holds the exclusive sales and distribution rights to Hydralyte products. PBH is an American over-the-counter healthcare marketing and distribution company, dating back more than 100 years.
Hydralyte International's robust supply chain, sales trajectory, manufacturing approach and product strategy are far from the only reasons it shows such promise as an investment. Current market trends also significantly favor the company's core value proposition. Valued at US$1.68 billion in 2023, the global electrolyte hydration drinks market is expected to reach US$2.78 billion by 2033 as consumers turn away from high-sugar, low-electrolyte drinks and towards more clinical hydration products.
Roughly 75 percent of Americans are dehydrated at any given time. The reasons are many and varied, ranging from travel and exercise to alcohol and illness. Its symptoms are something many of us have simply learned to live with – irritability, brain fog, dizziness, increased thirst, dry mouth and fatigue, to name just a few.
Hydralyte fits the bill perfectly for these consumers. Founded with the goal of making a difference through better hydration, Hydralyte is able to treat dehydration more effectively than the majority of sports drinks on the market. Thanks to its proprietary formula – which uses a precise ratio of water, electrolytes and glucose based on the World Health Organization's recommended formula for rapid rehydration.
Hydralyte is available in three forms: ready-to-drink, tablet and dissolvable powder stick. All three are widely accepted in the medical community. Hydralyte is also frequently used by professional athletes as an alternative to sports drinks.
In short, thanks to its market position, strong leadership and science-based formula, Hydralyte represents the perfect opportunity for investors to enter the lifestyle sports market.
Company Highlights
- Hydralyte International is a rapid hydration drink business with a focus on North America and established supply chains in both the United States and Canada.
- The company’s latest financials show a consistent upward trajectory with respect to its key growth targets:
- 10 percent increase in FY2023 net sales to US$10 million
- 2ppt increase in gross margin to 54 percent resulting in a 15 percent increase in gross profit from US$4.7 million to $5.4 million
- Net sales of US$2.17 million in Q1 2024, up 2 percent on in Q4 2023 with an uplift in gross margins to 56% (adjusted for one-off items)
- Strong momentum in FY24 with underlying sales growth for Q1 2024 of US$2.62 million, an increase of 23 percent from the previous quarter.
- Appointment of leading health and wellness products broker LeBeau Excel as new national sales broker for Canada, giving Hydralyte the ability to significantly expand its footprint in the Canadian market.
- Ongoing product development with a focus on high-margin growth channels, including Hydralyte Rapid Rehydration, a unique formula to take advantage of the lucrative ready-to-drink category for hydration products
- In addition to a solid manufacturing base and supply chain, Hydralyte is supported by leaders with decades of experience in health and wellness.
- Hydralyte products are widely accepted in both the medical and athletic communities. As a result, the company is well-positioned to leverage the fast-growing electrolyte hydration drinks market.
Core Product Offering
Hydralyte Rapid Rehydration
Hydralyte is based on the World Health Organization's recommended formula for rapid rehydration. Made from all-natural ingredients, it contains the precise ratio of glucose and electrolytes necessary to rehydrate. Its innovative formula contains up to 75 percent less sugar and four times more electrolytes than the majority of sports drinks.
Highlights:
- Multiple SKUs: Available as a tablet, powder and premade drink, Hydralyte comes in a range of different flavors and formulations, including:
- Liver Support: 7 key electrolytes, six antioxidants, ginger, turmeric, milk thistle and prickly pear.
- Apple Cider Vinegar: 4 key electrolytes, apple cider vinegar, vitamins B12, B6 and C.
- Collagen: 5 key electrolytes, Verisol collagen, vitamin C and zinc.
- Immunity with Elderberry: 7 key electrolytes, vitamin C, magnesium and zinc.
- SPORT: Launched in 2022, these tablets are designed with the needs of athletes in mind.
- Under development: Hydralyte Rapid Rehydration, a unique formula with inherent advantages in comparison to competitor products in the lucrative ready-to-drink product category
- Promising Partnerships: In December 2022, Hydralyte launched a brand partnership with Shay Mitchell, a Canadian actress and entrepreneur with over 36 million Instagram followers. The two parties launched a co-branded product through HPC eCommerce channels and Amazon USA to leverage Ms Mitchell’s high profile in the North American wellness market.
- Strategic Agreements: Recently appointed LeBeau Excel as its new sales broker to significantly expand Hydralyte’s footprint in the Canadian market. Along with a strong sales team and in-store support, the Lebeau Excel appointment is expected to generate additional margin growth through more streamlined distribution.
Management Team
Oliver Baker – CEO
Oliver Baker is the former general manager of Swisse Wellness USA, a vitamin, supplement and skincare brand that in 2015 sold for US$1.7 billion. During his tenure at Swisse, Baker employed a dedicated eCommerce strategy that enabled a successful US launch. He also led the integration team in Guangzhou, migrating ~US$73 million in sales and building a local team in the Chinese market.
Prior to his position at Swisse, Baker worked in multiple global and national sales and marketing roles with a focus on sports sponsorships.
Adem Karafili – Independent, Non-executive Chairman
A registered CPA and business professional with more than 15 years of experience, Adem Karafili has operated in leadership positions across a range of different sectors and industries. Most recently, he spent several years at Swisse Wellness, beginning as chief financial officer before becoming chief operating officer and managing director. While there, he helped to establish Swisse as a leading global health and wellness brand. Karafili holds a Bachelor of Business Administration in accounting and is chairman of multiple health and wellness corporations.
Chris Kavanaugh – CFO
Chris Kavanaugh has over 20 years of experience running finance and operations for growing startups from inception to US$30M+ in revenue. He has worked with Hydralyte for over five years, starting as a controller before being promoted to chief financial officer in 2021. Prior to his position at Hydralyte, he served as a director of finance for companies including Fullbridge, Education Incorporated and OneVision Resources. Kavanaugh has a bachelor's degree in accounting and management with a double major in information systems from Indiana University of Pennsylvania.
Nick Berry – Non-executive Director
Nick Berry brings over 19 years of experience in the Australian finance industry, specialising in equity and debt capital markets, mergers and acquisitions and strategic planning. With a proven track record in raising capital and structuring and negotiating complex financial transactions, Nick has demonstrated extensive expertise and leadership in the field. He previously served as an Executive Director at Nomura Australia and is currently a Director of PURE Asset Management Pty Ltd.
Margaret Hardin – Independent, Non-executive Director
Margaret Hardin has served as CEO and CFO for numerous major product companies in the United States including Baby Super Brands, ERGObaby Carrier Incorporated and Munchkin. With over two decades of experience, Hardin has a well-established reputation for driving growth through innovation, strategic acquisitions and geographic expansion. She holds a BBA from New Mexico State and an MBA from the Booth Graduate School of Business at the University of Chicago.
Brandon Fishman – US Advisor
Brandon Fishman is the Founder and CEO of VitaCup, a vitamin-infused functional coffee and tea brand that surpassed US$20 million in sales in five years. Fishman has worked with multiple Fortune 500 brands in a range of different capacities, in the process building up considerable entrepreneurial wisdom. Other companies founded by Fishman include NewCondosOnline and Internet Marketing Incorporated. Fishman holds a Bachelor of Business Administration and Finance from Emory University and a Master's in Real Estate & Business from the University of San Diego.
Sirona Biochem
Investor Insight
Sirona Biochem is on track to commercialize its proprietary anti-aging product, increasing shareholder value and enhancing profitability.
Overview
Sirona Biochem (TSXV:SBM,FSE:ZSB,US OTC:SRBCF) is a biotechnology company with an innovative platform for developing safer, more effective cosmetic and therapeutic active ingredients. Sirona Biochem’s strategy involves bringing innovative patented compounds to market while also engaging in partnerships to license or sell them to prominent global enterprises. In exchange, receiving income generating sales, front-end fees, milestone payments, and ongoing royalties.
Sirona’s technology is based on proprietary carbohydrate chemistry developed by the company’s wholly-owned French subsidiary research and development (R&D) laboratory TFChem. This carbohydrate chemistry can improve the safety and efficacy of carbohydrate-based molecules, which have broad application potential for the development of therapeutics and cosmeceuticals. Examples of commercially available carbohydrate-based drugs include viral neuraminidase inhibitor Tamiflu, and Johnson & Johnson’s (NYSE:JNJ) SGLT2 inhibitor Invokana™.
The company has an exclusive global licensing agreement with Allergan Aesthetics, an AbbVie company (NYSE:ABBV), to commercialize topical skin care treatments for dyschromia based on Sirona’s patents for TFC-1067 and related family of compounds. TFC-1067 is a very potent but safe dark spot remover and a breakthrough in the industry.
Sirona’s commercial launch of a serum containing our GlycoProteMim™ in 2025 is on track. The company’s Paris-based cosmetic branding expert has developed a compelling strategy to position this product as a premium offering in the anti-aging market highlighting GlycoProteMim's™ rejuvenating properties. GlycoProteMim™ serum will provide consumers with aging skin a breakthrough solution, delivering unmatched benefits without any observed adverse effects.
Sirona is led by a highly experienced team of biotechnology professionals. The company’s chief scientific officer Dr. Géraldine Deliencourt-Godefroy is an award-winning synthetic chemist and the founder of the French biotechnology company TFChem. Her scientific research in carbohydrate chemistry has led to the discovery of new drug families and the development of drug candidates for diabetes and obesity, cosmetic ingredients and biological adjuvants. She is the recipient of the acclaimed Francinov Research and Innovation Medal, the French Ministry of Research Award and the French Senate Award.
Technology Platform
Sirona’s technology platform is based on proprietary carbohydrate chemistry. Carbohydrate molecules play a central role in cell-to-cell communication and can interact with proteins, hormones, viruses, toxins and bacteria. In this way, carbohydrates perform a variety of essential biological functions in the human body, making them valuable components for the development of therapeutics and cosmeceuticals.
While they have broad application potential, carbohydrates are extremely challenging to develop due to their inherent instability. Using chemistry techniques originally developed by TFChem, Sirona has overcome the challenge of stabilizing carbohydrates to develop safer, more effective cosmetic and therapeutic active ingredients.
Sirona is exploring multiple commercial opportunities and partnerships for its carbohydrate technology platform and currently has two streams of product line: cosmetics and therapeutics.
Company Highlights
- Proven technology platform based on proprietary carbohydrate chemistry leading to a pipeline of products across a broad range of applications in cosmetics and pharmaceuticals all based on 20 years of research and development.
- Signed global exclusive licensing deal with Allergan Aesthetics, an AbbVie [NYSE: ABBV] company, for TFC-1067 and related family of compounds for the treatment of dyscromiadyschromia.
- Under the license agreement, Sirona will receive payments on achievement of milestones and royalties on product sales. Seventeen years duration for TFC-1067 patents.
- Strong worldwide IP portfolio, including North America, European Union and Asia.
- Developing disruptive solutions for anti-aging (US$12.5 billion), dyschromia(US$7.5 billion), and cellulite treatment (US$ 1.4 billion).
- Preparing for a planned commercial launch of anti-aging anti-wrinkle skincare product first quarter 2025 containing Sirona’s GlycoProteMim™ ingredient.
- State-of-the-art, laboratory in Paris France with award winning scientific team.
Key Business Segments
TFC-1067
June 13 2022 Sirona announced it has entered into a global licensing agreement with Allergan Aesthetics, an AbbVie company (NYSE:ABBV), pursuant to which Allergan Aesthetics will develop and commercialize topical skin care treatments based Sirona’s TFC-1067 and related family of compounds. Work is underway to bring product(s) containing TFC-1067 to commercial sales. Sirona will receive payments on the achievement of milestones and royalties on product sales.
GlycoProteMim™
GlycoProteMim™ (TFC-1326) is a revolutionary compound that offers remarkable anti-aging results and stands out as a beacon of innovation and safety. Unlike traditional alternatives such as toxins, dermal fillers, and retinoids, GlycoProteMim™ offers a unique solution that is safe and effective in reversing skin aging.
GlycoProteMim™ heightens cellular response to reactive oxygen species (ROS) and boosts SOD2. The compound also enhances hyaluronic acid synthesis and increases fibroblast proliferation, fortifying the collagen network.
Product Highlights:
- Safe for All Skin Types: GlycoProteMim™ is designed for all skin types. It has been proven to be tolerated by 100 percent of participants in clinical trials.
- Natural Progression, Not Injection: GlycoProteMim™ is a topical application and does not require invasive injections.
- Anti-Aging Efficacy: The product is loaded with powerful anti-inflammatory effects. It reverses aging and repairs skin, offering a comprehensive and permanent solution.
Multifaceted Benefits: GlycoProteMim™ outshines alternatives by helping improve skin laxity and quality and providing UV protection while enhancing the skin barrier. Retinoids, while effective, come with challenges like skin irritation and a lengthy onset period, making GlycoProteMim™ a more versatile and user-friendly alternative.
Sirona’s subsidiary, TFChem, has successfully received formulations for its eagerly awaited GlycoProteMim™ based anti-aging serum from its formulation partner, Global Beauty Consulting. The formulation intends to define the brand and lay the foundation for a broader range of products. This formulation will undergo standard safety evaluations and be used in the upcoming clinical trial. Sirona plans to launch the product in early 2025, ensuring compliance with regulatory standards in the European, US, and Canadian markets.
Cellulite Treatment, Wound care, and Keloid Treatments
Sirona’s scientists have identified new molecules underscoring its commitment to comprehensive skincare solutions developed by TFChem for the treatments of cellulite, wound care and keloids. Research plans have been developed and will be implemented when sufficient resources become available. There is a massive unmet need for effective treatments in these areas spanning both cosmetics and therapeutic markets.
Melasma Therapeutics
Sirona has retained the rights to commercialize TFC-1067 and related compound TFC-1394 as a therapeutic for the treatment of melasma. The potential exists to produce an effective therapeutic agent free of hydroquinone.
Management Team
Dr. Howard J. Verrico - CEO and Chairman of the Board
Dr. Verrico obtained his medical degree from the University of Toronto in 1985 and has been a member of the College of Physicians and Surgeons of British Columbia since July 1986. Dr. Verrico has extensive experience as a venture capitalist in the junior capital markets. He has acted as a venture capitalist for over 30 years, funding numerous start-ups and early-stage companies both in the private and public marketplace. He is the founder of Sirona Biochem building the company by investing his personal funds starting in 2006, He has accumulated his large share position through personal share purchases. He currently is solely focused on the success and growth of SIRONA Biochem as it enters a stage of rapid growth.
Géraldine Deliencourt-Godefroy - Chief Scientific Officer
Dr. Géraldine Deliencourt-Godefroy is an award-winning synthetic chemist and the founder of French-based biotechnology company TFChem. Since the acquisition of TFChem by Sirona Biochem in March 2011, Dr. Deliencourt-Godefroy has assumed the role of Chief Scientific Officer. Her scientific research in carbohydrate chemistry has led to the discovery of new drug families and the development of drug candidates for diabetes and obesity, cosmetic ingredients and biological adjuvants. Previous to founding TFChem, Dr. Deliencourt-Godefroy was a scientific leader at INSA (National Institute of Applied Sciences) in Rouen, France, where she developed a new technology on stabilized carbohydrates. Previous roles also include a post-doctoral position at the University College London and doctoral research at the Research Institute of Fine Organic Chemistry in Rouen, France. Dr. Deliencourt-Godefroy received a PhD and Masters in Organic Chemistry as well as her business degree from the University of France. She is the author of several publications and patents and is also the recipient of the acclaimed Francinov Research and Innovation Medal, the French Ministry of Research Award and the French Senate Award.
Christopher Hopton - Chief Financial Officer
Christopher Hopton brings 28 years of financial management and operations expertise to the company. His extensive background includes financial planning, accounting policy, and business process improvement. As a business investment and finance consultant, he has worked with multiple public and private companies. Noteworthy roles include serving as chief financial officer at Central Resources and Rio Silver, as well as a division controller at Canadian Airlines, where he managed a $200 million annual operating budget. He played a key role in the restructuring of 360 Networks, leading to its acquisition by Bell Canada. Hopton holds a Bachelor of Business Administration from Simon Fraser University and is a Certified Professional Accountant.
Sirona Biochem Announces Publication of Groundbreaking Study on TFC-1326 Compound in the Journal of Cosmetic Dermatology
The article, titled "TFC-1326 Compound Reduces Clinical Signs of Skin Aging: Evidence From In Vitro Human Adipose and Skin Models and Pilot Clinical Trial," highlights the groundbreaking efficacy of Sirona's proprietary compound TFC-1326 in reducing visible signs of skin aging.
Read the full article here:
Access the Study: TFC-1326 Compound Reduces Clinical Signs of Skin Aging. Evidence From In Vitro Human Adipose and Skin Models and Pilot Clinical Trial
The study, conducted by leading scientists at Diva Expertise in collaboration with Sirona Biochem, presents compelling data demonstrating the ability of TFC-1326 to target key mechanisms of skin aging.
Key Findings
Using advanced in vitro human adipose and skin models, as well as a pilot clinical trial, TFC-1326 was shown to:
- Enhance skin elasticity and firmness
- Stimulate the production of collagen and other extracellular matrix components
- Reduce the appearance of fine lines and wrinkles
Clinical Trial Results
The pilot clinical trial with a 1% TFC-1326 topical cream provided robust evidence supporting its safety and efficacy. Key results included:
- Visible improvement in skin texture, hydration, and overall appearance
These findings reinforce the compound's potential as a next-generation anti-aging solution.
Statements from Leadership
"Our innovative approach to carbohydrate chemistry has once again delivered transformative results," said Dr. Howard Verrico, CEO of Sirona Biochem. "The publication of these findings in the Journal of Cosmetic Dermatology is a testament to the cosmeceutical benefits of TFC-1326 on aged skin. We believe this compound has the capacity to redefine anti-aging skincare solutions."
"This marks a significant milestone for Sirona Biochem," added Dr. Verrico. "We are actively advancing discussions with potential commercial partners while also laying the groundwork to launch our own product, ensuring this groundbreaking technology reaches the market and delivers its full potential to consumers globally."
TFC-1326 and Trademark Information
TFC-1326 and its salt form, TFC-1325, are being marketed under the trademarked name GlycoProteMim .
Read the full study here:
TFC-1326 Compound Reduces Clinical Signs of Skin Aging. Evidence From In Vitro Human Adipose and Skin Models and Pilot Clinical Trial
About Diva Expertise
Diva Expertise is an innovative French biotech based in Toulouse, in the Biotechnologies Center of Pierre Potier, specializing in applied research on human adipose tissue.
With more than 15 years of expertise in physiology and physiopathology, Diva Expertise has established itself as a leader in human adipose tissue research. Their high-tech platform provides personalized research support, from cellular studies to human applications.
Adipose tissue, which composes the hypodermis (the third layer of the skin), plays a crucial role in skin homeostasis and serves as a key target for innovative anti-aging solutions.
For more information, visit: https://www.diva-expertise.com .
About Sirona Biochem Corp.
Sirona Biochem is a biotechnology company focusing on innovative cosmetic and dermatology active ingredients with a proprietary platform technology.
Sirona specializes in stabilizing carbohydrate molecules to improve their efficacy and safety. Its patented compounds are licensed to leading companies worldwide, generating revenue through licensing fees, milestone payments, and royalties.
Sirona's laboratory, TFChem , is based in France and has received multiple French national scientific awards and grants from the European Union and French government.
For more information, visit: www.sironabiochem.com .
Contact Information
Investor Enquiries:
Christopher Hopton
Chief Financial Officer
(604) 641-4466
info@sironabiochem.com
Forward-Looking Statements
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ
materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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AMGEN ANNOUNCES SENIOR EXECUTIVE RESEARCH APPOINTMENT
Howard Chang , M.D., Ph.D., Joins as Senior Vice President of Research and Chief Scientific Officer
Amgen (NASDAQ:AMGN) today announced that Howard Chang M.D., Ph.D., will join the company as senior vice president of Research, effective Dec. 16, 2024 . Chang will also assume the title and responsibility of serving as Amgen's chief scientific officer, reporting to Jay Bradner M.D., executive vice president of Research and Development.
"Howard is one of our generation's foremost physician-scientists, with expertise in human genetics and a profound ability to distill complex disease biology into clarified targets," Bradner said. "Leading Research at Amgen is a vital role that shapes the disease-altering therapies we pursue for patients. Howard's high-technology approach to science, coupled with his groundbreaking research in gene control, cancer biology and stem cell biology, complements the work we do every day."
Chang will be responsible for establishing and leading all research priorities within Amgen's rare disease, oncology, inflammation and cardiometabolic therapeutic areas. He will also oversee operations in key research hubs from San Francisco to Thousand Oaks , and across the company's global network of specialized sites in Reykjavik , Copenhagen , Munich , British Columbia , and Maryland .
Chang succeeds the highly distinguished Ray Deshaies , Ph.D., former senior vice president of Research, whose departure was announced earlier this year.
About Amgen
Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.
Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.
Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average and is also part of the Nasdaq-100 index. In 2023, Amgen was named one of "America's Greatest Workplaces" by Newsweek, one of "America's Climate Leaders" by USA Today and one of the "World's Best Companies" by TIME.
For more information, visit Amgen.com and follow us on X (formerly known as Twitter), LinkedIn , Instagram , TikTok , YouTube and Threads .
Amgen Forward-Looking Statements
This news release contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company (including BeiGene, Ltd. or Kyowa Kirin Co., Ltd.), the performance of Otezla® (apremilast) (including anticipated Otezla sales growth and the timing of non-GAAP EPS accretion), our acquisitions of Teneobio, Inc., ChemoCentryx, Inc., or Horizon Therapeutics plc (including the prospective performance and outlook of Horizon's business, performance and opportunities, any potential strategic benefits, synergies or opportunities expected as a result of such acquisition, and any projected impacts from the Horizon acquisition on our acquisition-related expenses going forward), as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems on our business, outcomes, progress, and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including our most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, Amgen is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.
No forward-looking statement can be guaranteed and actual results may differ materially from those we project. Our results may be affected by our ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing our products and global economic conditions. In addition, sales of our products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. Furthermore, our research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. We or others could identify safety, side effects or manufacturing problems with our products, including our devices, after they are on the market. Our business may be impacted by government investigations, litigation and product liability claims. In addition, our business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. If we fail to meet the compliance obligations in the corporate integrity agreement between us and the U.S. government, we could become subject to significant sanctions. Further, while we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors, or we may fail to prevail in present and future intellectual property litigation. We perform a substantial amount of our commercial manufacturing activities at a few key facilities, including in Puerto Rico , and also depend on third parties for a portion of our manufacturing activities, and limits on supply may constrain sales of certain of our current products and product candidate development. An outbreak of disease or similar public health threat, such as COVID-19, and the public and governmental effort to mitigate against the spread of such disease, could have a significant adverse effect on the supply of materials for our manufacturing activities, the distribution of our products, the commercialization of our product candidates, and our clinical trial operations, and any such events may have a material adverse effect on our product development, product sales, business and results of operations. We rely on collaborations with third parties for the development of some of our product candidates and for the commercialization and sales of some of our commercial products. In addition, we compete with other companies with respect to many of our marketed products as well as for the discovery and development of new products. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, some raw materials, medical devices and component parts for our products are supplied by sole third-party suppliers. Certain of our distributors, customers and payers have substantial purchasing leverage in their dealings with us. The discovery of significant problems with a product similar to one of our products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on our business and results of operations. Our efforts to collaborate with or acquire other companies, products or technology, and to integrate the operations of companies or to support the products or technology we have acquired, may not be successful. There can be no guarantee that we will be able to realize any of the strategic benefits, synergies or opportunities arising from the Horizon acquisition, and such benefits, synergies or opportunities may take longer to realize than expected. We may not be able to successfully integrate Horizon, and such integration may take longer, be more difficult or cost more than expected. A breakdown, cyberattack or information security breach of our information technology systems could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number of events. Our business and operations may be negatively affected by the failure, or perceived failure, of achieving our environmental, social and governance objectives. The effects of global climate change and related natural disasters could negatively affect our business and operations. Global economic conditions may magnify certain risks that affect our business. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all.
CONTACT: Amgen, Thousand Oaks
Madison Howard , 773-636-4910 (media)
Elissa Snook , 609-251-1407 (media)
Justin Claeys , 805-313-9775 (investors)
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SOURCE Amgen
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