Intercept Announces Departure of Chief Financial Officer

• Rocco Venezia Appointed Chief Accounting Officer and Acting CFO -
  
• Intercept Reiterates 2021 Financial Guidance -

NEW YORK, March 10, 2021 (GLOBE NEWSWIRE) -- Intercept Pharmaceuticals, Inc. (Nasdaq:ICPT), a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat progressive non-viral liver diseases, today announced that Sandip Kapadia, Chief Financial Officer, will leave Intercept to pursue another opportunity. Mr. Kapadia will continue to serve as Chief Financial Officer until his departure on March 26, 2021. The Company also announced Mr. Rocco Venezia will be appointed Chief Accounting Officer and will serve as acting Chief Financial Officer until a permanent replacement is announced.

“Sandip joined Intercept shortly after the approval of Ocaliva in the U.S. and played an important role supporting the growth of the Company from a clinical stage to a commercial organization,” said Jerry Durso, President and Chief Executive Officer of Intercept. “On behalf of the Intercept team, I want to thank Sandip for his contributions. Sandip has built a talented and experienced team at Intercept, and I’m very pleased to announce that Rocco Venezia will be appointed Chief Accounting Officer. Rocco has served as Intercept’s Controller since 2016 and brings over 20 years of relevant finance and accounting experience to the role.”

“I want to thank my colleagues at Intercept for their partnership over the years as we built the Ocaliva franchise and advanced the NASH program to bring important therapies to patients with non-viral liver diseases,” said Mr. Kapadia. “I’m confident the team, under Jerry’s leadership, will continue to achieve its objectives and deliver long-term value to investors, healthcare providers and patients.”

Mr. Kapadia’s departure is not related to Intercept’s operations, financial reporting or controls and the Company reiterates its full year 2021 financial guidance.

About Intercept
Intercept is a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat progressive non-viral liver diseases, including primary biliary cholangitis (PBC) and nonalcoholic steatohepatitis (NASH). Founded in 2002 in New York, Intercept has operations in the United States, Europe and Canada. For more information, please visit www.interceptpharma.com or connect with the company on Twitter and LinkedIn.