Ad hoc announcement pursuant to Art. 53 LR of the SIX Swiss Exchange
GENEVA, Switzerland – September 30, 2021 – ObsEva SA (NASDAQ: OBSV) (SIX: OBSN), a biopharmaceutical company developing and commercializing novel therapies to improve women’s reproductive health, today announced the appointment of Luigi Marro, as Chief Transformation Officer (CTO) and member of the company’s Executive Committee, effective October 1, 2021. Mr. Marro will lead the Company’s strategic Commercial Operational Readiness initiative.
“We are delighted to welcome Luigi to ObsEva’s executive team,” said Brian O’Callaghan, Chief Executive Officer of ObsEva. “Luigi’s comprehensive commercial experience in the reproductive health landscape, deep financial expertise and contributions as a consultant thus far, makes him an ideal fit. We are confident that his impressive track record will be invaluable as we continue to pursue regulatory approvals and advance toward commercialization of linzagolix for the treatment of heavy menstrual bleeding and pain associated with uterine fibroids in pre-menopausal women.”
Mr. Marro added, “I am excited to be joining ObsEva at this critical juncture and look forward to working with the outstanding team to drive successful transformation outcomes as we prepare linzagolix for market launch in uterine fibroids, if approved.”
Luigi Marro is a pharmaceutical and biotech executive with over 20 years of experience. He has a background in finance, operations and has managed global businesses across multiple therapeutic areas from development stages through commercialization. Most recently, Mr. Marro founded his own consulting company to support biotech and pharmaceutical startups. Before this, Mr. Marro served as Chief Financial Officer at Finox Biotech, which launched the first biosimilar recombinant follicle stimulating hormone (r-FSH) product to market. Previously, Mr. Marro held leadership positions at Voisin Life Sciences Consulting SA as Chief Operating Officer and at Merck Serono as Senior Director Strategy Development and Business Performance. Prior to Serono’s acquisition by Merck, Mr. Marro held elevating strategic roles. Mr. Marro holds a university degree in Demographic and Economical Statistic Sciences from La Sapienza in Rome as well as a Master of Business Administration from Luiss Management school in Rome.
ObsEva is a biopharmaceutical company developing and commercializing novel therapies to improve women’s reproductive health and pregnancy. Through strategic in-licensing and disciplined drug development, ObsEva has established a late-stage clinical pipeline with development programs focused on new therapies for the treatment of uterine fibroids, endometriosis, and preterm labor. ObsEva is listed on the Nasdaq Global Select Market and is traded under the ticker symbol “OBSV” and on the SIX Swiss Exchange where it is traded under the ticker symbol “OBSN”. For more information, please visit www.ObsEva.com.
Cautionary Note Regarding Forward Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe,” “expect,” “may,” “plan,” “potential,” “will,” and similar expressions, and are based on ObsEva’s current beliefs and expectations. These forward-looking statements include expectations regarding the clinical development of and commercialization plans for ObsEva’s product candidates, including linzagolix, expectations regarding regulatory and development milestones, including the potential timing of regulatory submissions to the EMA and FDA and ObsEva’s ability to obtain and maintain regulatory approvals for its product candidates, and the results of interactions with regulatory authorities. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include uncertainties inherent in the conduct of clinical trials, clinical development and related interactions with regulators, ObsEva’s reliance on third parties over which it may not always have full control, the impact of the novel coronavirus outbreak, and other risks and uncertainties that are described in the Risk Factors section of ObsEva’s Annual Report on Form 20-F for the year ended December 31, 2020, filed with the Securities and Exchange Commission (SEC) on March 5, 2021 and other filings ObsEva makes with the SEC. These documents are available on the Investors page of ObsEva’s website at www.ObsEva.com. Any forward-looking statements speak only as of the date of this press release and are based on information available to ObsEva as of the date of this release, and ObsEva assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.
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