Pharnext SA announced its Board of Directors has appointed Hugo Brugière, Chairman and CEO of Néovacs, as a new Director. This cooptation will be submitted to the approval of the next shareholders meeting of Pharnext. This follows the financing agreement executed between Pharnext and Néovacs for an amount of €20.7 million net as announced on October 3rd, 2022.

Hugo is a graduate of the Saint-Cyr Special Military School and Sciences Po Paris. A serial entrepreneur with more than twenty companies to his credit, he has specialized in stock market and restructuring/turnarounds of listed companies. Hugo Brugiere is currently the Chairman and CEO of Néovacs, and also has numerous mandates in companies in France and around the world including Cybergun, Arkania, Verney-Carron, among others.

Joshua Schafer, Chairman of Pharnext's Board of Directors, commented: "I am delighted to welcome Hugo Brugière as a new member of our Board of Directors as we advance our pivotal Phase III clinical study of PXT3003, the PREMIER trial, which is due to bring top line data in Fourth Quarter 2023. Hugo Brugière's wealth of experience will be a strategic addition and highly valuable to support the development of the company.