Affitech A/S announced that Dr Martin Welschof, its Managing Director, will leave his position at the end of the year. The Board of Directors has accepted his resignation with effect from 31st December, 2011 and will consider potential candidates to succeed him during the coming weeks.
Dr Aleksandr Shuster, Chairman of Affitech Board of Directors, commented: "Martin has served Affitech for more than 9 years and during the last 12 months has led the management team in transforming the Company into a product-focused organization. Under his leadership, Affitech has successfully completed the preclinical and GMP manufacturing development of our leading antibody product, AT001/r84, providing a package of data which is currently being used to compile the clinical trial application in Russia. On behalf of the Board, I wish to thank Martin for his dedicated service to the Company and am pleased that he will remain in post at Affitech for the remainder of this year while we finalize plans for his successor.”
Dr Martin Welschof said: “It has been an honor to work with the many talented and dedicated people at Affitech. Together, we have made important progress in our goal to build an innovative portfolio of novel therapeutic monoclonal antibody drugs which might provide better treatment options to patients."
There are no changes to other members of the Company’s Executive Management.