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BioPorto appoints Peter Mørch Eriksen as permanent Group Chief Executive Officer

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April 2, 2024
Announcement no. 04

BioPorto appoints Peter Mørch Eriksen as permanent Group Chief Executive Officer

COPENHAGEN, DENMARK and BOSTON, MA, USA, April 2, 2024, (GLOBE NEWSWIRE) -- BioPorto A/S (BioPorto or Company) (CPH:BIOPOR), an in vitro diagnostics company focused on empowering the early detection of Acute Kidney Injury (AKI), announced today the appointment of Peter Mørch Eriksen as permanent Group CEO of BioPorto.

Peter Mørch Eriksen was appointed as interim CEO of BioPorto in January 2024.

John McDonough, Chairman of BioPorto, commented: “We are very pleased that Peter has accepted to take on the role as CEO of BioPorto on a permanent basis. Peter has an excellent understanding of the Company and our business, and Peter has demonstrated strong execution power during the last couple of months. The Company is on track executing the strategic plan announced on 22 February 2022.”

Peter Mørch Eriksen has spent more than 25 years in the MedTech/life science industries, including as CEO of Sense A/S and VP of Medtronic. Peter has previously been the CEO of BioPorto in the period from 2013 – 2021 and has served as a Board Member in BioPorto since then. Further, Peter is the Chairman of FluoGuide A/S and MONSENSO A/S.

Because of the appointment, Peter Mørch Eriksen will not stand for re-election to the Board of Directors at the upcoming Annual General Meeting.

To spearhead the American activities, the Company has initiated a search for a US CEO for BioPortos’ subsidiary BioPorto Inc. Further, BioPorto is also in the process of hiring a new CFO, who will be based in Denmark, Hellerup.

Peter Mørch Eriksen, BioPorto’s CEO, commented: “Great to be back, the first three months in the office have provided me with a lot of confidence in our ability to deliver on our strategy plan and aspirations. We are in the process of building a strong team and I am pleased to onboard a new US CEO and a CFO in the near future.”

BioPorto A/S to Host Annual Earnings Webcast

In connection with the release of its 2023 Annual Report, the Company’s management team will host an online investor presentation on April 4, 2024, at 10:00 CEST via HC Andersen Capital. Investors interested in attending the webcast may register here

To receive BioPorto’s Company Announcements, Press Releases, Newsletters and other business relevant information, please sign up on https://bioporto.com/investor-contact/

Investor Relations

HC Andersen Capital, +45 4529 0000, investor@bioporto.com

Ashley R. Robinson, LifeSci Advisors, +1 617 430 7577, arr@lifesciadvisors.com

About Acute Kidney Injury

Acute kidney injury is a sudden episode of kidney failure or kidney damage that happens within a few hours or a few days. AKI causes a build-up of waste products in blood and makes it difficult for kidneys to maintain the proper balance of bodily fluids. AKI can also affect other organs such as the brain, heart, and lungs and is common in patients who are in hospital intensive care units. For more information about AKI please visit: https://bioporto.com/aki/.

About BioPorto

BioPorto is an in vitro diagnostics company focused on saving lives and improving the quality of life with actionable biomarkers – tools designed to help clinicians make changes in patient management. The Company uses its expertise in antibodies and assay development, as well as its platform for assay development, to create a pipeline of novel and compelling products that focus on conditions where there is significant unmet medical need, and where the Company’s tests can help improve clinical and economic outcomes for patients, providers, and the healthcare ecosystem.

The Company’s flagship products are based on the NGAL biomarker and designed to aid in the risk assessment and diagnosis of Acute Kidney Injury, a common clinical syndrome that can have severe consequences, including significant morbidity and mortality, if not identified and treated early. With the aid of NGAL levels, physicians can identify patients potentially at risk of AKI more rapidly than is possible with current standard of care measurements, enabling earlier intervention and more tailored patient management strategies. The Company markets NGAL tests under applicable registrations including CE mark in several countries worldwide.

BioPorto has facilities in Copenhagen, Denmark and Boston, MA, USA. The shares of BioPorto A/S are listed on the Nasdaq Copenhagen stock exchange. For more information visit www.bioporto.com.

Forward-looking Statements

This announcement contains certain forward-looking statements. Words such as “initiate”, “may”, “focus”, “design”, “guide”, “plan”, “estimate”, “expand”, “target”, “potentially”, “will”, “should” and similar expressions identify such forward-looking statements, and such forward looking statements include statements with respect to commercialization activities in the U.S. and elsewhere, our collaboration with Roche Diagnostics GmbH (Roche), our ability to obtain regulatory approval to expand indications to analyzers other than the cobas c 501 or to other age groups and/or clinical indications, the buildout of our commercialization team and our financial guidance. Forward-looking statements involve risks, uncertainties and other factors, which may cause actual results, performance and achievements to differ materially from those contained in the forward-looking statements. These include numerous assumptions, risks and uncertainties, many of which are beyond BioPorto’s control. These assumptions, risks and uncertainties are described from time to time in BioPorto’s public announcements, its Interim Reports, and in its 2022 Annual Report under Risk Factors. BioPorto undertakes no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances after the date of this presentation, except as required by applicable law.

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