Professor Olaf G. Wilhelm leaves the Executive Management Board on 31 March 2014, Dr Jan Schmidt-Brand will lead the Company
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Munich, Germany, 24 February 2014 – WILEX AG (ISIN DE0006614720 / WL6 / FSE) today announced that Professor Olaf G. Wilhelm will step down as Chairman of the Executive Management Board when his director’s contract expires on 31 March 2014.
As a co-founder of the company (1997) and Chief Executive Officer of WILEX AG since 2001, Professor Wilhelm will leave the Company in view of the future direction of the company and the necessary adjustments by mutual consent with the Supervisory Board and maintains a good relationship with his colleagues. The Supervisory Board of WILEX AG thanks Professor Wilhelm for his many years of service, his entrepreneurship and his great dedication to WILEX.
Dr Jan Schmidt-Brand, who has been the company’s Chief Financial Officer since 2012, will lead the Executive Management Board of WILEX AG effective 1 April 2014. Going forward, he will hold both posts and continue to serve as Managing Director of Heidelberg Pharma GmbH. Dr Paul Bevan will remain responsible for the Group’s R&D activities and make himself available as the main point of contract for licencing talks in connection with WILEX’ projects.
These decisions also reflect the re-positioning of WILEX. WILEX will focus on the ADC technology and push the commercialisation of the clinical development projects with a team of approximately 50 employees with emphasis in Ladenburg.
Professor Olaf G. Wilhelm, CEO of WILEX AG, commented: “The necessary cost-cutting programme will inevitably result in a company alignment significantly limiting the freedom to shape its business which has been both the goal and motivation of my entrepreneurial work from the company’s foundation until today. I thank all of our employees for their support – especially in the last months.”
Professor Christof Hettich, chairman of the Supervisory Board, commented: “I would like to thank Professor Wilhelm for his dedicated work in the past years. The Supervisory Board believes that the future focus of development by the WILEX Group will be on the highly topical and promising antibody drug conjugate technology developed and marketed by its subsidiary Heidelberg Pharma. This ADC technology is one of the most promising approaches worldwide in the area of these new cancer therapies. Heidelberg Pharma has been successfully working on this technology for years. This view is reflected in the decision regarding the future Group’s management.”
WILEX AG is a biopharmaceutical company based in Munich, Germany. Focused on oncology, the Company develops diagnostic and therapeutic product candidates for the specific detection and targeted treatment of various types of cancer based on antibodies and small molecules. The subsidiary Heidelberg Pharma GmbH offers preclinical contract research services and an antibody drug conjugate (ADC) technology platform. Our customers and partners include leading international pharmaceutical companies. WILEX AG is listed at the Frankfurt Stock Exchange. ISIN DE0006614720 / WKN 661472 / Symbol WL6. More information is available at www.wilex.com.
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