9 Feb 2017 07:00
AIM: AMYT
ESM: AYP
Amryt Pharma plc
("Amryt" or the "Company")
Directorate Change
Amryt, the pharmaceutical company focused on best-in-class treatments for rare and orphan diseases, announces that Non-executive Director, Cathal Friel, will be stepping down from the Board of Directors on 31 March 2017.
The Board would like to thank Cathal for his significant contribution to the Company, in particular with the admission of Amryt's shares to AIM and ESM in April 2016 via the reverse takeover of Fastnet Equity plc, where Cathal was Executive Chairman. Cathal will have served on Amryt's Board for approximately a year since that date and now steps down to focus on his other business interests.
Harry Stratford, Chairman of Amryt, commented:
"Cathal has seen the business achieve very significant milestones in its first year. I would like to thank him for his extremely important contribution during the reverse takeover and for his guidance during our first year as a public company. We wish him well for the future."
Cathal Friel, commented:
"Having helped Amryt with its admission to AIM and over its first full year as a public company, I leave the Board with great confidence in the executive team and remain very excited about the Group's future potential."
Enquiries:
Amryt Pharma plc | C/o KTZ Communications |
Joe Wiley, CEO Rory Nealon, CFO/COO |
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Shore Capital | +44 (0) 20 7408 4090 |
Nomad and Joint Broker |
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Bidhi Bhoma, Edward Mansfield |
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Davy | +353 (1) 679 6363 |
ESM Adviser and Joint Broker |
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John Frain, Anthony Farrell |
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Stifel | +44 (0) 20 7710 7600 |
Joint Broker |
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Jonathan Senior, Ben Maddison |
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KTZ Communications | +44 (0) 20 3178 6378 |
Katie Tzouliadis, Emma Pearson |
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About Amryt Pharma plc - see www.amrytpharma.com
Amryt Pharma is a specialty pharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare or orphan diseases. The Company is building a diversified portfolio of commercially attractive, best-in-class, proprietary new drugs to help address some of these rare and debilitating illnesses for which there are currently no available treatments.
It recently acquired an exclusive licence to sell LOJUXTA (lomitapide), across the EU and other territories including the Middle East, North Africa, Turkey and Israel. LOJUXTA is used to treat a rare life-threatening disease called Homozygous Familial Hypercholesterolemia.
Amryt's lead development product, AP101 (Episalvan), received marketing approval for the treatment of partial-thickness wounds from the European Commission in January 2016. Amryt intends to develop AP101 (Episalvan) as a new treatment for Epidermolysis Bullosa ("EB"), a rare and distressing genetic skin disorder affecting young children for which there is currently no treatment. The Company is currently planning a Phase 3 study of AP101 (Episalvan) in EB, which has been granted US and EU orphan drug designation. The market opportunity for EB is estimated to be circa EUR 1.3 billion.
Amryt's earlier stage product AP102 is focused on developing novel, next generation somatostatin analogue ("SSA") peptide medicines for patients with rare neuroendocrine diseases, where there is a high unmet medical need, including acromegaly and Cushing's disease. AP102 was recently granted orphan designation in the US in acromegaly by the FDA.
The Company joined AIM and Dublin's ESM in April 2016 following the reverse takeover of Fastnet Equity PLC.