Halle (Saale), Germany // Probiodrug AG
Probiodrug announced today that all closing conditions to finalize the Probiodrug-Prosidion transaction have been fulfilled.
In connection with the transaction, Dr. Konrad Glund resigned from his position as Co-CEO of Probiodrug and takes over the position “Vice President of Corporate Development” at Prosidion. As part of this change Dr. Glund joins Probiodrug’s supervising board of directors, replacing Hendrik Liebers, who steps down from the board at his own request after long-term excellent support and strong commitment to the company. Dr. Hans-Ulrich Demuth, CEO, and Arnd Christ, CFO, will jointly manage the company as executive board.
Probiodrug is a drug discovery company with a focus on distinct proteins as drug targets. The company endeavors to identify new orally active compounds for selectively modifying enzymatic activity in order to derive therapeutic effects in gastrointestinal, neuronal and autoimmune disorders. Probiodrug actively pursues patent protection for its lead and back-up compounds as well as for fundamental treatment technologies in various indications.