– FRANCE, Lyon – POXEL SA (Euronext: POXEL), a clinical-stage biopharmaceutical company focused on the development of novel treatments for type 2 diabetes and metabolic disease, today announced that Pierre Legault has been appointed the new Chairman of the Board of Directors. Mr. Legault joined Poxel’s Board of Directors in February 2016 and will succeed Dr. Thierry Hercend, who will continue to support Poxel as a member of its Board.
“We are delighted to welcome Pierre as our new Chairman of the Board. His diverse experience and expertise will be instrumental as we seek to advance to late-stage development with our lead drug candidate Imeglimin in type 2 diabetes, and further expand our strategic vision for the Company,” said Thomas Kuhn, CEO of Poxel. “I would also like to thank Thierry for his support and numerous contributions over the last seven years, serving as Chairman since Poxel’s inception in 2009. Thierry has been a tremendous leader of our Board and we are very pleased that he will remain as a member of the Board during the Company’s next phase. With the recent addition of new Board members, it was the right time to pass the torch over to Pierre.”
“I am pleased to become Chairman of the Board during an exciting and transformational time. The management team and Board of Directors are dedicated to developing novel, first-in-class therapies for patients. I am looking forward to working closely with Poxel’s management and Board as we continue to advance the company,” said Mr. Legault.
“Poxel has transitioned from early-stage research to late-stage development. Over the past year, the recent additions to the management team and Board were designed to strengthen and broaden the industry experience as the Company advances to its next phase. We are delighted to have attracted such talented and seasoned professionals,” said Dr. Hercend.
Mr. Legault has over 35 years of experience working in the pharmaceutical and biotechnology industry. He is a member of the Board of Tobira Therapeutics (Chairman of audit committee), Iroko Pharmaceuticals and NephroGenex. Over the cause of his career, Mr. Legault served as chief executive officer, president and chief financial officer of several public companies including Eckerd Pharmacies, NephroGenex, OSI Pharmaceuticals and Rite Aid and held several senior positions with Sanofi-Aventis and predecessor companies. Mr. Legault studied International Finance, Business & Commerce and earned an MBA in Marketing from McGill University in Montreal, Canada. Additionally, he completed the Executive Masters Program for InfoTechnology & Services at Harvard Business School and he is a CPA.
Poxel uses its development expertise in metabolism to advance a pipeline of drug candidates focused on the treatment of type 2 diabetes. We have successfully completed our Phase 2 trials for our first-in-class lead product, Imeglimin, which targets mitochondrial dysfunction, in the U.S. and EU and have entered Phase 2b clinical development in Japanese patients. We are advancing our second program, PXL770, a direct AMPK activator. We intend to generate further growth through strategic partnerships and pipeline development.
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