OSE Immunotherapeutics appoints Marc Le Bozec as interim CEO

NANTES, France - OSE Immunotherapeutics (EURONEXT:OSE) announced Thursday the appointment of Marc Le Bozec as interim Chief Executive Officer, following the termination of Nicolas Poirier from the CEO position. The decision was made by the company’s Board of Directors on October 2. According to InvestingPro data, OSE maintains excellent financial health with a strong current ratio of 3.46 and has demonstrated impressive performance with a 19.64% return over the past week.

According to a press release statement, the Board has initiated a formal search for a permanent CEO while empowering Le Bozec to conduct a strategic evaluation of the biotech company’s business operations, focusing on partnerships, finances, and clinical development programs.

Poirier will continue to serve as the company’s Chief Scientific Officer. His termination as CEO will not result in any compensation or indemnity payments, as he is remunerated exclusively under his employment contract with the company.

Dr. Markus Cappel, Chairman of the Board, expressed confidence in Le Bozec’s ability to guide the company through this transition period, citing his extensive experience in the biotech sector and expertise in corporate governance and investment fund management.

Le Bozec brings significant industry experience, having previously managed two biotech investment funds at Financière Arbevel between 2015 and 2023. He also served as CFO of Cellectis, where he raised €120 million and prepared the company for its Nasdaq listing.

"OSE is a success story, but it is also at a turning point. A comprehensive review is a priority today, and we owe it to our shareholders," Le Bozec stated in the announcement. The company’s financial metrics support this success story, with a healthy earnings per share of $1.78 and moderate debt levels. InvestingPro analysis reveals 12 additional investment tips for OSE Immunotherapeutics, providing valuable insights for investors considering this biotech company.

OSE Immunotherapeutics, based in Nantes and Paris, focuses on developing treatments in immuno-oncology and immuno-inflammation. With a market capitalization of $189.38 million and trading near its Fair Value according to InvestingPro analysis, the company maintains a solid financial foundation. The company’s compensation committee will review the new CEO’s compensation package, which will be submitted for shareholder approval at the next general meeting.

In other recent news, OSE Immunotherapeutics announced a delay in its partnership with AbbVie, pushing the expected launch of clinical trials beyond 2025. This postponement has led the company to remove the anticipated milestone payment from its financial guidance. Additionally, OSE Immunotherapeutics, in collaboration with the FoRT Foundation, has successfully completed patient enrollment in a Phase 2 clinical trial for its cancer vaccine, Tedopi. This trial involves 105 HLA-A2 positive patients across Italy, France, and Spain, focusing on non-small cell lung cancer (NSCLC). The study, known as Combi-TED, is evaluating the efficacy of Tedopi in combination with nivolumab or docetaxel, compared to docetaxel alone, as a second-line treatment for metastatic NSCLC. These developments highlight ongoing efforts and challenges in OSE Immunotherapeutics’ clinical endeavors.

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