Polyphor AG (SIX: POLN) announced today that Chairman of the Board Argeris "Jerry" Karabelas has resigned from the company for personal reasons, effective immediately. Kuno Sommer, Vice-Chairman of the Board, has been appointed Chairman until the next Annual General Meeting. Andreas Wallnöfer, Board member since 2016, was appointed as Vice Chairman.

"Jerry has been instrumental in Polyphor's achievements since his appointment as Chairman in 2013. His professional expertise, excellent network in the pharmaceutical industry and enthusiasm for developing our business strategy has been invaluable," says Kuno Sommer, Chairman of the Board of Directors. "On behalf of the entire Polyphor organization, I want to express my gratitude to Jerry for his contributions to Polyphor over the past six years. Thanks in large part to his vision, energy and passion, Polyphor has progressed to a listed company with a Phase III program. We wish Jerry and his family the very best."

Andreas Wallnöfer is a Senior R&D Executive and former Head of Clinical Research & Exploratory Development at F. Hoffmann-La Roche Ltd.

"I am pleased of the progress made by Polyphor over the past six years in advancing the pipeline and transitioning from a macromolecule research collaboration model to development of its own pipeline of important molecules, especially balixafortide which is in the Phase III stage for the treatment of metastatic breast cancer. Also noteworthy was the very successful IPO in 2018. Though I am resigning for personal reasons, I remain confident the board, under Kuno Sommer's chairmanship, and management under CEO Giacomo Di Nepi's leadership will further advance Polyphor's opportunities," comments Argeris Karabelas.