Board reshuffle at Rentschler

The official announcement is, as usual, rather sober in tone. Rentschler Biopharma SE announces changes to its Executive Board, thereby “reorganising the top management team in a strategically important phase”. As the company further states, CEO Benedikt von Braunmühl is leaving the Executive Board by mutual agreement with the Supervisory Board. The move is said to be linked to the continued implementation of the company strategy and the preparation of the next phase of development. What sounds like a logical explanation at first glance, on closer inspection reads as anything but a strong vote of confidence, as the next phase of development appears to require a new leadership team.

Nevertheless, the separation must have come as a surprise, as Prof. Dr Uwe Bücheler, Deputy Chairman of the Supervisory Board, will assume the role of CEO on an interim basis until a new Chief Executive Officer is appointed. This is intended to ensure that the “company’s ability to act remains fully intact”, sending a clear business-as-usual signal, particularly to customers.

In addition, COO Christiane Bardroff will leave Rentschler Biopharma during the course of the first quarter to pursue a new professional opportunity. According to the company, a successor has already been appointed and will be announced shortly. The personnel changes mark a significant shift in the leadership of the CDMO at a time that is undoubtedly challenging.

Strong partnerships, strong foothold in the US

From within the company, however – under the unspoken motto that nothing has really happened – it is said that change is part of corporate development and that a 150-year-old company is not easily thrown off course. This is underlined by the fact that Rentschler is currently making the largest investment in its history at its Laupheim site, expanding production capacities and the supply of media for cell culture. It also fits with the recently announced long-term partnership with Dutch company VarmX (Leiden, Netherlands) for the manufacture of the coagulation therapy VMX-C001. Rentschler will serve as the manufacturing partner for the planned Phase III programme and, following approval, potentially for commercialisation as well. The project has received FDA Fast Track status; production scale-up is taking place in Milford (US), where Rentschler operates a site. This provides additional stability, as production facilities in the United States are most likely to benefit from growth in biopharma manufacturing under the new rules of the US administration. The expansion of the site there is therefore expected to pay off already in the medium term.

For Rentschler’s roughly 1,400 employees, changes at the top are nothing new. The real strings in the family-owned company continue to be pulled behind the scenes by Prof. Dr Nikolaus F. Rentschler, who has steered the traditional family legacy through many turbulent waters without drawing much attention. Against this backdrop, his welcome of the interim CEO almost sounds as though it could become a longer-term arrangement: “I am pleased that Prof. Dr Uwe Bücheler is assuming the role of Chief Executive Officer on an interim basis. He has closely accompanied the development of our strategy and has many years of international experience in dealing with market developments and strategic turning points. This means he brings all the prerequisites to clearly steer Rentschler Biopharma in this phase – with the aim of creating sustainable value: for our customers, their patients and the market in which we operate,” said Nikolaus Rentschler.

New Leadership in the US

How important the US really is to Rentschler’s business strategy is also demonstrated by a recent personnel appointment, which further shows that experienced executives do find their way to a well-positioned mid-sized company. Industry veteran Detra Glinatsis is to take on the newly created role of Head of Business Development U.S. In this position, Glinatsis, who has previously worked for Rentschler Biopharma, will lead business development in the US market. She will report to Dr Patrick Meyer, Global Head of Business Development, and will be based at the company’s site in Milford, MA. Dr Patrick Meyer, Global Head of Business Development at Rentschler Biopharma, commented on her return: “I am very pleased that Detra is returning to Rentschler Biopharma to take on this important position. Her impressive career is a testament to her expertise, her customer-focused mindset and her ability to build strong, long-term partnerships.”