NERVIANO, IT, September 11, 2024 – NMS Group S.p.A. (NMS Group), the largest oncological R&D company in Italy, announces today a change to its shareholding structure, leading to a restructured board of directors and statutory auditors. The Fondazione Regionale per la Ricerca Biomedica (FRRB), established by the Lombardy Regional Government with an aim to promote and support biomedical research in the region, has agreed to conclude its investment in NMS Group as minority shareholder.
As part of a strategic realignment, the shares previously held by FRRB have been acquired by our majority shareholder, Luxembourg Investment Company 240 S.à r.l., an entity controlled by PAG, a leading Asia Pacific alternative investment firm with USD55 billion in assets under management. This transition marks a significant milestone as NMS Group prepares to streamline decision-making processes and accelerate the development of its oncology pipeline. NMS Group expresses its deepest gratitude to FRRB for its support over the past decades. FRRB has played a crucial role in NMS’s growth, providing financial backing.
“We are very grateful to FRRB for their decades of commitment. Their partnership has been foundational to our success, and we are excited to build on this strong legacy as we transition into this new phase,” said Hugues Dolgos, Pharm.D., CEO of NMS Group. “The adjustments will enable us to better navigate the evolving industry landscape and continue delivering exceptional value to our stakeholders with an accelerated pace.”
Reflecting on the acquisition, David Wong, Chairman of the Board at NMS Group and Partner and Co-Head of Private Equity at PAG, stated, “Acquiring FRRB’s shares underscores our deep confidence in the NMS Group’s management team and the remarkable value of its innovation and pipeline. This change in shareholding structure not only reinforces our commitment to the company’s strategic vision but also allows us to more effectively support and accelerate the groundbreaking work being done. We believe in the potential of NMS Group, and this realignment positions us to capitalize on new opportunities, driving sustainable growth and long-term success.”
After the resignation of FRRB’s member of the board, the Board of Directors of NMS Group will consist as follows:
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- Tak-Wai (David) Wong (Chairman)
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- Hugues Dolgos (CEO)
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- Lincoln Pan
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- Pengyu (Francis) Chen
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- Liping Meng
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- Jianghua Zhao
In addition, we welcome Ilaria Torrini, the alternate member of the Statutory Auditors, who will replace FRRB’s Statutory Auditor.
As we move forward, NMS remains committed to expanding its investor base, optimizing operational efficiency, and accelerating R&D initiatives to deliver greater value to our stakeholders.
Link PR: 20240911-NMS Group Change of Shareholding Structure
from NMSGroup
