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Press Release

Genexine Pursues Global CEO to Accelerate Growth on International Stage
2021.09.01

 

Genexine Pursues Global CEO to Accelerate Growth on International Stage


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Global search firm engaged to identify CEO with strong strategic and business expertise

 

-        Jungwon Woo nominated as interim CEO to ensure smooth transition and uninterrupted operations

 

Seoul, Korea – September 1, 2021-- Genexine (KOSDAQ: 095700) a clinical stage biopharmaceutical company committed to the discovery and development of novel biologics for the treatment of unmet medical needs, today announced that it has hired a top global recruiting firm to assist in the hiring of a world-class Chief Executive Officer (CEO) to position Genexine on the world stage as a leading, global biopharmaceutical company. As announced previously, Genexine’s founder and Chairman, Young-Chul Sung, PhD, is stepping down from his leadership role at Genexine to focus on internal scientific endeavors. During this transition to a permanent CEO, Jungwon Woo, PhD, current head of Genexine’s Protein Manufacturing Technology Research Institute will act as the interim CEO.

 

Genexine has hired one of the top global recruiting firms to assist with the CEO search with the objective of bringing on board a world-class CEO with a broad global network who can increase the company’s exposure to global investors in the United States, Europe and across Asia. The new CEO will be expected to have close ties to the biotech industry and access to novel technologies as strengthening Genexine’s pipeline and securing new partnerships will be critical to drive shareholder value. Genexine has built an extensive pipeline of novel assets, many in late stage clinical development. The hiring of a CEO with diverse experience, strong leadership skills and deep cultural awareness will accelerate Genexine’s goal to become a global biopharma leader while leveraging its strong base in Korea.

 

Genexine previously announced that, as mutually agreed by Dr. Sung and Genexine’s Board of Directors (BOD), Dr. Sung, is stepping down from his role as CEO as he wishes to devote time to the development of the company’s vaccine platform, including a second generation Covid-19 vaccine. Genexine’s BOD is committed to appointing a CEO that will propel Genexine onto the global stage with a focus on partnering, business development, commercialization and stakeholder management in order to unlock significant shareholder value.

 

Dr. Sung has agreed to remain a BOD member in the interim to support the smooth transition and ensure a seamless handover of responsibilities to the next CEO. The company will continue to be managed professionally while maintaining a strict focus on executing on all clinical and R&D plans. Dr. Woo, who has been with the company for 8 years, leading much of R&D and clinical activities and will guide the company during the transition to ensure an efficient transition without any distractions or interruption in operations.

“We are all deeply grateful for Chairman Young-Chul Sung’s devotion over the past 20 years and the numerous achievements Genexine has made under Dr. Sung’s leadership,” said Dr. Woo. “Under the direction of our Board of Directors we are committed to securing a strong leader to accelerate our global capabilities and we will ensure a smooth continuation of all clinical operations during this important transition.”