Vivoryon Therapeutics N.V. Announces CEO Transition Plan

Vivoryon Therapeutics N.V. Announces CEO Transition Plan

 

• Dr. Ulrich Dauer not to extend current term running through 2024 AGM
• Board to initiate succession planning

 

Halle (Saale) / Munich, Germany, June 15, 2023 – Vivoryon Therapeutics N.V. (Euronext Amsterdam: VVY; NL00150002Q7) (Vivoryon), a clinical stage company focused on the discovery and development of small molecule medicines to modulate the activity and stability of pathologically altered proteins, today announced that the Company’s CEO Dr. Ulrich Dauer has informed Vivoryon’s Board of Directors that he has decided not to renew his contract as a member of the Company’s executive leadership team. As a result of his decision, Dr. Dauer will step down as CEO on expiry of his current contract on the date of the 2024 Annual General Meeting or when the appointment of a suitable successor has been agreed upon.

 

The Board of Directors will initiate a search for Dr. Dauer’s successor focused on a seasoned business leader who can continue to create shareholder value and drive advancements to realize the full potential of Vivoryon’s approach in Alzheimer’s disease and beyond, including varoglutamstat’s progress towards market approval.

 

In accepting Dr. Dauer’s decision, Dr. Erich Platzer, Chairman of Vivoryon’s Board of Directors commented: “On behalf of the entire Board of Directors, I would like to extend my deep gratitude to Ulrich for his extraordinary commitment over the past five years. His tireless efforts have been instrumental for Vivoryon’s success in refocusing clinical development to bridge the Company’s solid scientific background into true potential for patients. Moreover, Ulrich and his executive team have been successful in continuously financing the Company through an incredibly difficult time in the market and even more so for companies active in neurodegenerative diseases, raising a total of over 110 million Euro. Under his leadership, Vivoryon has thrived and has established the unique position of its oral small molecule varoglutamstat among the most promising Alzheimer’s disease medicines in development, with a remarkably favorable safety profile to date. Having set the course for our key clinical readout in 2024, Ulrich leaves Vivoryon in a very strong position to continue its successful trajectory. The Board looks forward to partnering with him for the remainder of his tenure with the Company.”