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– Founder Dr Miroslav Reljanovic to become Executive Vice-Chairman
London, UK – 16 June 2017: Ergomed plc (LSE: ERGO) (‘Ergomed’ or ‘the Company’), a company dedicated to the provision of specialised services to the pharmaceutical industry and the development of new drugs, today announces the strengthening of its executive team with the appointment of Dr Dan Weng as its new Chief Executive Officer and a Board Director of Ergomed. Dr Weng joins Ergomed with effect from 1 July 2017 from EPS Holdings, Inc. (‘EPSHD’), a global CRO listed on the Tokyo Stock Exchange.
When Dr Weng joins the Company, Dr Miroslav Reljanovic, Ergomed’s founder, will transition from CEO to Executive Vice-Chairman, where he will support Dr Weng and the Board in growing and developing Ergomed’s CRO offering and provide strategic guidance on Ergomed’s co-development business and wholly-owned pipeline.
Dr Weng has extensive experience in managing and growing CRO businesses, including nearly six years at EPS International Holding Co. (“EPSI”), subsidiary of EPSHD, where he was Chairman, President and CEO. During his tenure at EPSI, Dr Weng oversaw significant growth, both organically and through M&A in Asia, the US and Europe, with revenues increasing over five-fold. Dr Weng’s background covers multiple therapeutic areas, supporting all stages of development through to approval. He was also a Board Director of EPSHD and had an active role in corporate strategy and investor relations.
Prior to this, Dr Weng has a proven track record with 20 years of delivering growth in executive positions at international CROs including MedPace, Icon Clinical Research, PharmaNet and Quintiles, where he established the offering in China.
Dr Weng qualified as a medical doctor at Tongji Medical University, China, and holds an MA in Health Planning, Policy and Management from the University of Leeds, UK. He also held research positions at Harvard Medical School – Massachusetts General Hospital and the University of California.
Dr Miroslav Reljanovic, Chief Executive Officer of Ergomed, said: “Ergomed has a history of innovation in clinical research and development and this is set to continue. I’m very pleased to welcome Dan to the team to guide Ergomed forward as we seek to build on the strong growth of our CRO and pharmacovigilance businesses. I look forward to contributing to Ergomed’s continued success as Vice-Chairman, focusing on our existing and future co- development deals, our pipeline products, and the broader strategy of the business.”
Peter George, Chairman of Ergomed, said: “Dan has significant experience in growing CRO businesses globally, and is an ideal addition to the Ergomed team. With the increasing maturity and scale of the business, his international experience in corporate development across all the areas of clinical research make for an excellent fit.
“Miro’s inspiration, innovation and drive have grown Ergomed to the public company that it is today. I’d like to thank Miro for all that he has done to-date as Founder and CEO. We look forward to him fully dedicating himself to the continued strategic development of the Company as Executive Vice-Chairman, working alongside Dan.”
Dr Dan Weng, Chief Executive Officer designate of Ergomed, said: “Ergomed is a pioneer in the development of novel clinical outsourcing services where its site management and study physician support approach differentiates it from competitors. It is also taking a leadership position in the provision of pharmacovigilance services and is showing very strong growth in that part of the business. I look forward to joining what is an excellent team and contributing to further growth and success.”
Dr Dan Weng, aged 54, has held the following directorship in the past five years: EPS Holdings, Inc.
Ergomed confirms that there are no further disclosures to be made in relation to Rule 17 of paragraph (g) of Schedule Two of the AIM Rules for Companies in respect of Dr Weng’s appointment.
Ergomed plc Tel: +44 (0) 1483 503205
Miroslav Reljanovic (Chief Executive Officer) Stephen Stamp (Chief Financial Officer)
Numis Securities Limited Tel: +44 (0) 20 7260 1000
Michael Meade / Freddie Barnfield (Nominated Adviser) James Black (Joint Broker)
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Alex Price (Joint Broker)
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Ergomed plc is a profitable UK-based business providing drug development services to the pharmaceutical industry and has a growing portfolio of co-development partnerships. It operates in over 50 countries.
Ergomed provides clinical development, trial management and pharmacovigilance services to over 100 clients ranging from top 10 pharmaceutical companies to small and mid-sized drug development companies. Ergomed successfully manages clinical development from Phase I through to late phase programmes.
Ergomed has a wide therapeutic focus, with a particular expertise in oncology, neurology and immunology and the development of orphan drugs. Ergomed believes its approach to clinical trials is differentiated from that of other providers by its innovative Study Site Management model and the use of Study Physician Teams, resulting in a close relationship between Ergomed and the physicians involved in clinical trials.
As well as providing high quality clinical development services, Ergomed is building a portfolio of co-development partnerships with pharma and biotech companies which share the risks and rewards of drug development. Ergomed leverages its expertise and services in return for carried interest in the drugs under development. Lastly, Ergomed acquired a pipeline of proprietary development products for the treatment of surgical bleeding. For further information, visit: http://ergomedplc.com.