Nicox has announced a new governance structure that will separate the functions of CEO and chairman.
Andreas Segerros, an experienced global pharma executive, will become the company’s CEO effective 1 June 2022. Mr Segerros has relevant industry experience in glaucoma, given that while he was the global head of ophthalmology at Pharmacia, he helped launch Xalatan (latanoprost), the first approved prostaglandin F2Įdrug in the indication and the first to reach over a billion dollars in sales. Mr Segerros also has venture capital experience, having been a partner at
Sunstone Capital.
We do not anticipate any material shifts in Nicox’s operations or key development priorities, which are to advance NCX-470 through its ongoing Phase III studies for treating glaucoma and to determine how to best advance NCX-4251 in dry eye disease.
Year end
Revenue
(€m)
PBT*
(€m)
EPS*
(€)
DPS
(€)
P/E
(x)
Yield
(%)
12/20 14.4 (10.2) (0.30) 0.0 N/A N/A
12/21 8.6 (15.5) (0.32) 0.0 N/A N/A
12/22e 9.0 (16.2) (0.37) 0.0 N/A N/A
12/23e 11.7 (18.1) (0.41) 0.0 N/A N/A
Note: *PBT and EPS are normalised, excluding amortisation of acquired intangibles, exceptional items and share-based payments.
Importantly, Nicox’s co-founder and current CEO and chairman Michele Garufi will remain a board member, providing continuity and valuable institutional knowledge as the company moves closer towards completing the first NCX-470 Phase III trial (Mont Blanc), expected in Q123.
Mr Garufi will be stepping down from the role of chairman once company by-laws are amended to increase the age limit for this position, which will be the subject of a vote at an upcoming extraordinary general meeting.
If passed, Jean-François Labbé, who has served on Nicox’s board since 2010 and been chairman of its audit committee since 2013, is expected to become the next chairman of the board. Mr Labbé is the founder and CEO of SpePharm
Holding, a pan-European specialty pharma company, and previously served as COO of ProStrakan UK and CEO of OTL Pharma.
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