Abivax appoints Marc de Garidel as Chief Executive Officer and Interim Board Chair

Abivax appoints Marc de Garidel as Chief Executive Officer and Interim Board Chair

• Marc’s appointment bolsters Abivax’s position as a leader in the field of chronic inflammatory bowel diseases
• Corinna zur Bonsen-Thomas steps down as acting Chair and remains a Board Member
• Prof. Hartmut J. Ehrlich, M.D., retires from the CEO position 

PARIS, France, April 5, 2023 – 07:30 p.m. (CEST) – Abivax SA (Euronext Paris: FR0012333284 – ABVX), a Phase 3 clinical-stage biotechnology company focused on developing therapeutics that modulate the immune system to treat patients with chronic inflammatory diseases, today announces the appointment of Marc de Garidel as Chief Executive Officer (CEO) and Interim Board Chair, effective May 5, 2023.

Corinna zur Bonsen-Thomas will step down as acting Chair, a position she has held since August 2022, and will remain a Board Member. Prof. Hartmut J. Ehrlich, M.D., will retire from the CEO position, which he has held since the Company’s founding in 2013, and will stay on as a strategic advisor until the transition is complete. The Company expects to appoint a long-term Board Chair in 2023.

Marc has an outstanding track record in the pharmaceutical and biotechnology sector and as a CEO for the last 12 years. Marc led the successful sale of CinCor Pharma for up to $1.8B, subject to the achievement of certain milestones, to AstraZeneca in February 2023, after joining the firm in July 2021. Marc also sold Corvidia Therapeutics in August 2020 to Novo Nordisk for $2.1B in total consideration after having joined the company in April 2018. He was the CEO of Ipsen between November 2010 and July 2016, overseeing the development of its U.S. presence. Prior to that, Marc worked for Amgen and Eli Lilly in jobs of increasing responsibilities in various markets, like the United States and Europe. He has served as Chairman of the Board of Ipsen since 2010 and is a member of the board of directors of Claris Bio since 2020. Marc has a degree in Civil Engineering from the Ecole des Travaux Publics in Paris, has a Master’s in International Management (MIM) from Thunderbird Global School Management and an executive MBA from Harvard Business School.

Marc de Garidel, new CEO and Interim Chair of the Board of Abivax, stated: “I am thrilled to join Abivax during this crucial time of company growth and after seeing the promising Phase 2b results for obefazimod in ulcerative colitis. I believe obefazimod has the potential to transform the treatment and the lives of many patients suffering from ulcerative colitis. I look forward to working with the team to assess the full potential of obefazimod for the treatment of different chronic inflammatory diseases with a high unmet medical need. I would like to thank Hartmut for his commitment and am excited to build upon his achievements.”

Corinna zur Bonsen-Thomas, Chair of Abivax, added: “The Abivax Board warmly welcomes Marc as the new CEO of Abivax. We believe his impressive track record and experience in the biopharma sector make him the ideal leader to take the team and obefazimod towards commercialization. We are confident he will continue to position the Company as a major player in the field of chronic inflammatory diseases, executing on Abivax’s clinical and financial strategy. We also thank Hartmut for his outstanding work since the inception of Abivax.”

Prof. Hartmut J. Ehrlich, M.D., CEO of Abivax, said: “I am excited that Marc has been selected as the new CEO of Abivax. With his impressive track record in Pharma and Biotech, I believe, Marc is the right person to lead the Company during this important transition as it moves towards commercialization of its lead product candidate, obefazimod. After nearly a decade of leading the Abivax management team and bringing obefazimod into the global pivotal Phase 3 program in ulcerative colitis, I am grateful for the Board’s support in building a strong, international management team.“

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About Abivax (www.abivax.com)

Abivax is a Phase 3 clinical stage biotechnology company, focused on developing therapeutics that modulate the immune system to treat patients with chronic inflammatory diseases. Abivax, founded by Truffle Capital, is listed on Euronext compartment B (ISIN: FR0012333284 – Mnémo: ABVX). Based in Paris and Montpellier, Abivax’s lead drug candidate, obefazimod (ABX464), is in Phase 3 clinical trials for the treatment of ulcerative colitis. More information on the Company is available at www.abivax.com. Follow us on Twitter @ABIVAX_.

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DISCLAIMER

This press release contains forward-looking statements, forecasts and estimates (including patient recruitment) with respect to certain of the Company's programs. Although Abivax’ management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks, contingencies and uncertainties, many of which are difficult to predict and generally beyond the control of Abivax, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. A description of these risks, contingencies and uncertainties can be found in the documents filed by the Company with the French Autorité des Marchés Financiers pursuant to its legal obligations including its registration document (Document d’Enregistrement Universel). These risks, contingencies and uncertainties include among other things, the uncertainties inherent in research and development, future clinical data and analysis, decisions by regulatory authorities, such as the FDA or the EMA, regarding whether and when to approve any drug, as well as their decisions regarding labelling and other matters that could affect the availability or commercial potential of such product candidates. Special consideration should be given to the potential hurdles of clinical and pharmaceutical development including further assessment by the company and regulatory agencies and IRBs/ethics committees following the assessment of preclinical, pharmacokinetic, carcinogenicity, toxicity, CMC and clinical data. Furthermore, these forward-looking statements, forecasts and estimates are only as of the date of this press release. Readers are cautioned not to place undue reliance on these forward-looking statements. Abivax disclaims any obligation to update these forward-looking statements, forecasts or estimates to reflect any subsequent changes that the Company becomes aware of, except as required by law. Information about pharmaceutical products (including products currently in development) which is included in this press release is not intended to constitute an advertisement. This press release is for information purposes only, and the information contained herein does not constitute either an offer to sell, or the solicitation of an offer to purchase or subscribe securities of the Company in any jurisdiction, in particular in France. Similarly, it does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. It should not be regarded by recipients as a substitute for exercise of their own judgement. All opinions expressed herein are subject to change without notice. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes are required to inform themselves about and to observe any such restrictions.