Sensorion Strengthens Leadership Team with Appointment of Amit Munshi as Chairman of the Board and Independent Director
Regulatory News:
Sensorion (FR0012596468 – ALSEN) a pioneering clinical-stage biotechnology company specializing in the development of novel therapies to restore, treat and prevent hearing loss disorders, today announced the appointment of Amit Munshi, as Sensorion's independent director and Chairman of the Board, effective April 1, 2025. Mr. Munshi succeeds Mr. John Furey who stepped down as an Independent Board Member. Mr. Munshi is then appointed Chairman of the Board, replacing Khalil Barrage who served as the Company's interim Chairman since March 31, 2023. Mr. Barrage will continue to serve as a director on Sensorion's Board.
This appointment by the Board of directors is performed by way of co-optation, the mandate of Amit Munshi to replace John Furey will be submitted to Sensorion's shareholders for ratification at the Company's next General Meeting.
Khalil Barrage said: "On behalf of my fellow Board members and the management team, it's a pleasure to welcome Amit to Sensorion as our new Chairman. His extraordinary track record of building companies by executing multi-faceted corporate growth strategies that integrate capital markets, business development and M&A will be invaluable to the Company as we advance our portfolio of game-changing therapeutic programs for hearing disorders and remain steadfast in our mission to be the global leader in the field. I also wish to extend gratitude to John for his outstanding contributions to Sensorion over the past six years."
Amit Munshi brings to Sensorion approximately 35 years of experience in the healthcare industry with specific expertise in executive leadership having led multiple biotech companies to successful transformational growth milestones and exits. Amit was most recently the Chief Executive Officer of Orna Therapeutics, and previously ReNAgade Therapeutics which was acquired by Orna in May 2024. Amit's career includes serving as President and CEO of Arena Therapeutics (NASDAQ:ARNA) commencing in 2016, where he led the company's transformation from a $300M market cap company into a late clinical stage organization, before its $6.7B acquisition by Pfizer (March 2022). During his tenure at Arena, Amit also spun-out assets into Longboard Therapeutics (NASDAQ:LBPH, recently acquired by Lundbeck AS for $2.6B)). He was the co-founder and Chief Business Officer of Kythera Biopharmaceuticals, Inc (NASDAQ:KYTH), where he identified the lead asset (Kybella®), led several rounds of financing and completed a $370M ex-North America license transaction with a division of Bayer. KYTH was sold to Allergan (NYSE:AGN) for $2.1B (June 2015). Additional corporate leadership highlights include multiple roles at Big Pharma such as an 8-year tenure at Amgen Inc. where Amit was the General Manager of the Company's European Nephrology Business Unit based in Switzerland with responsibility for Aranesp® and Mimpara®/Sensipar®. Prior to his time in Switzerland, Amit was responsible for Amgen's inflammation / immunology marketing including the launch of Kineret® and the acquisition of Immunex Corp (NASDAQ:IMNX). Amit received an MBA from The Peter Drucker Graduate School of Management at Claremont Graduate University and holds a BA in History and a BS in Quantitative Economics from the University of California, Riverside.
Amit Munshi commented: "I am thrilled to join such an innovative company at a pivotal stage in its journey to develop groundbreaking therapies addressing a critical unmet medical need. Sensorion is uniquely positioned to transform the field of hearing care, and I look forward to collaborating with the team to drive and facilitate the Company's mission to bring life-changing solutions to patients worldwide."
About Sensorion
Sensorion is a pioneering clinical-stage biotech company, which specializes in the development of novel therapies to restore, treat, and prevent hearing loss disorders, a significant global unmet medical need. Sensorion has built a unique R&D technology platform to expand its understanding of the pathophysiology and etiology of inner ear related diseases, enabling it to select the best targets and mechanisms of action for drug candidates.
It has two gene therapy programs aimed at correcting hereditary monogenic forms of deafness, developed in the framework of its broad strategic collaboration focused on the genetics of hearing with the Institut Pasteur. SENS-501 (OTOF-GT) currently being developed in a Phase 1/2 clinical trial, targets deafness caused by mutations of the gene encoding for otoferlin and GJB2-GT targets hearing loss related to mutations in GJB2 gene to potentially address important hearing loss segments in adults and children. The Company is also working on the identification of biomarkers to improve diagnosis of these underserved illnesses.
Sensorion's portfolio also comprises programs of a clinical-stage small molecule, SENS-401 (Arazasetron), for the treatment and prevention of hearing loss disorders. Sensorion's small molecule progressed in three Phase 2 proof of concept clinical study: firstly, in Cisplatin-Induced Ototoxicity (CIO) for the preservation of residual hearing, for which the recruitment is completed and the follow-up is ongoing. Secondly, with partner Cochlear Limited, a study of SENS-401 for the residual hearing preservation in patients scheduled for cochlear implantation, completed in 2024. Thirdly, a Phase 2 study of SENS-401 was also completed in Sudden Sensorineural Hearing Loss (SSNHL) in 2022.
Label: SENSORION
ISIN: FR0012596468
Mnemonic: ALSEN
Disclaimer
This press release contains certain forward-looking statements concerning Sensorion and its business. Such forward looking statements are based on assumptions that Sensorion considers to be reasonable. However, there can be no assurance that such forward-looking statements will be verified, which statements are subject to numerous risks, including the risks set forth in the 2024 full year report published on March 14, 2025, and available on our website and to the development of economic conditions, financial markets and the markets in which Sensorion operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Sensorion or not currently considered material by Sensorion. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Sensorion to be materially different from such forward-looking statements. This press release and the information that it contains do not constitute an offer to sell or subscribe for, or a solicitation of an offer to purchase or subscribe for, Sensorion shares in any country. The communication of this press release in certain countries may constitute a violation of local laws and regulations. Any recipient of this press release must inform oneself of any such local restrictions and comply therewith.
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