Directorate Change

London, UK, 24 July 2024: Shield Therapeutics plc (LSE: STX), a commercial stage pharmaceutical company that delivers ACCRUFeR®/Feraccru® (ferric maltol), an innovative and differentiated specialty pharmaceutical product, to address a significant unmet need for patients suffering from iron deficiency (with or without anaemia), today announced that Greg Madison, Chief Executive Officer, will be stepping down from the Board by mutual consent to pursue other opportunities and will be leaving the Company with immediate effect.

Anders Lundstrom, one of the Company's independent non-executive Directors was appointed interim Chief Executive Officer. Anders, who is based in Boston, Massachusetts, has strong international and US senior commercial and general management experience gained from a range of pharmaceutical and biotech companies including AstraZeneca, Biogen and Orexo (where he was president and CEO).

Shield's non-executive Chairman, Hans Peter Hasler, commented: "On behalf of the Board, I would like to thank Greg for his significant contribution to the Group including securing the partnership with Viatris and overseeing the subsequent launch and growth of ACCRUFeR® and we wish him well with his future endeavors. Shield has a highly experienced Board of Directors and has had the privilege of working alongside Anders Lundstrom these past three years. Anders brings a wealth of US commercialisation experience and we are confident that he will lead the team to continue the success of Accrufer. I wish him and the team every success."

Clinically low iron levels (aka iron deficiency, ID) can cause serious health problems for adults of all ages, across multiple therapeutic areas. Together, ID and ID with anemia (IDA) affect about 20 million people in the US and represent a $2.3B market opportunity. As the first and only FDA approved oral iron to treat ID/IDA, Accrufer® has the potential to meet an important unmet medical need for both physicians and patients.