Kolon TissueGene said on the 17th that it held a regular board meeting at its U.S. headquarters with newly appointed directors in attendance and discussed the commercialization strategy for the knee osteoarthritis therapy "TG-C."
Kolon TissueGene held a regular board meeting and a strategy review meeting on the 13th–14th (local time) at its headquarters in Rockville, Maryland. The meetings discussed the schedule for announcing the phase 3 results for TG-C, the strategy for entering the U.S. market, and future business plans.
Chief Executive Jeon Seungho presided over the board and strategy meetings and shared the path forward for commercialization. Jeon said, "Following the resolution at the March shareholders meeting, we will meticulously coordinate the execution path for global commercialization with the newly appointed directors at this board," adding, "With a board structure that ensures independence and expertise now in place, we will work to make a leap as a global bio corporations, starting with FDA approval for TG-C."
The board meeting was attended by inside director Lee Gyuho, Chief Executive Noh Munjong, and Chief Financial Officer (CFO) Kim Jeongin, as well as newly appointed outside directors Jan Van Acker and Robert Ang.
Kolon TissueGene cited strengthened accountable management and expanded expertise as the core of this board reorganization. At the regular shareholders meeting in March, Kolon Vice Chairman Lee Gyuho was newly appointed as an inside director, and two global bio experts joined as new outside directors.
Outside director Jan Van Acker led marketing and other roles at the global pharmaceutical company MSD and handled the commercialization of the immuno-oncology therapy Keytruda. Outside director Robert Ang is a former surgeon with experience serving as a bio corporations chief executive officer (CEO) and in business development.
Kolon TissueGene is set to announce the key U.S. phase 3 results for TG-C in July. The company is preparing to file for FDA marketing approval and is also firming up its U.S. market entry strategy.