XBiotech appoints Jan-Paul Simard as Co-CEO alongside Dr. Sushma Shivaswamy to enhance leadership and execution strategy.
Quiver AI Summary
XBiotech Inc. has announced the appointment of Jan-Paul Simard as Co-Chief Executive Officer alongside Dr. Sushma Shivaswamy, effective October 23, 2026. Director Tevi Troy expressed excitement about the complementary skills and shared mission of the two leaders, believing they will help the company maximize its True-Human antibody therapies. Dr. Shivaswamy, who has been with XBiotech for 17 years and served as interim CEO since December 2025, emphasized the importance of adaptive leadership in a changing industry. Jan-Paul Simard, who joined XBiotech in 2012 and has experience in clinical development, expressed his honor in stepping into this role and eager to collaborate with Dr. Shivaswamy to advance new therapies. XBiotech is a global biosciences company focused on developing therapeutic antibodies and innovative manufacturing technologies.
Potential Positives
- Dr. Sushma Shivaswamy and Jan-Paul Simard appointed as Co-Chief Executive Officers, indicating a strategic leadership alignment aimed at enhancing the company's operational effectiveness.
- Jan-Paul Simard brings extensive experience in clinical development and a background in scientific education, reinforcing the expertise in the leadership team.
- Appointment of Co-CEOs reflects a proactive and adaptive leadership approach in a changing industry landscape, aimed at optimizing decision-making and execution.
- The company is well-positioned to capitalize on its pipeline of drug candidates, suggesting potential growth and value creation for patients and shareholders.
Potential Negatives
- The appointment of a Co-CEO might raise concerns about leadership stability and effectiveness, possibly indicating a need for shared leadership due to previous challenges under the former CEO.
- The press release emphasizes the company's proactive approach to leadership during a critical time, which may imply that the organization is facing significant pressures or challenges that necessitate this change.
FAQ
Who are the new Co-CEOs of XBiotech?
XBiotech has appointed Dr. Sushma Shivaswamy and Jan-Paul Simard as Co-Chief Executive Officers.
What is Jan-Paul Simard's background?
Jan-Paul Simard has been with XBiotech since 2012, initially as an R&D assistant and later in clinical development.
What is the mission of XBiotech?
XBiotech aims to pioneer the discovery and commercialization of therapeutic antibodies to redefine healthcare standards.
When was Dr. Sushma Shivaswamy appointed interim CEO?
Dr. Sushma Shivaswamy was named interim CEO in December 2025 after the retirement of Founder John Simard.
Where is XBiotech headquartered?
XBiotech is headquartered in Austin, Texas, and focuses on advancing innovative biotech manufacturing technologies.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$XBIT Hedge Fund Activity
We have seen 7 institutional investors add shares of $XBIT stock to their portfolio, and 14 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- JANE STREET GROUP, LLC removed 48,624 shares (-80.9%) from their portfolio in Q2 2026, for an estimated $111,835
- GSA CAPITAL PARTNERS LLP added 30,654 shares (+inf%) to their portfolio in Q2 2026, for an estimated $70,504
- BLACKROCK, INC. added 28,042 shares (+9.6%) to their portfolio in Q2 2026, for an estimated $64,496
- MILLENNIUM MANAGEMENT LLC removed 26,210 shares (-24.8%) from their portfolio in Q2 2026, for an estimated $60,282
- RENAISSANCE TECHNOLOGIES LLC added 19,225 shares (+85.7%) to their portfolio in Q2 2026, for an estimated $44,217
- MORGAN STANLEY removed 17,674 shares (-10.7%) from their portfolio in Q2 2026, for an estimated $40,650
- GEODE CAPITAL MANAGEMENT, LLC removed 16,904 shares (-7.3%) from their portfolio in Q2 2026, for an estimated $38,879
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Full Release
AUSTIN, Texas, Oct. 23, 2026 (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ: XBIT) today announced that its Board of Directors have elected Jan-Paul Simard to serve as Co-Chief Executive Officer alongside CEO Dr. Sushma Shivaswamy, effective Oct. 23, 2026.
“On behalf of the Board of Directors, we are excited to announce Dr. Sushma Shivaswamy and Jan-Paul Simard as Co-Chief Executive Officers,” said Director Tevi Troy. “Their complementary skill sets, scientific acumen, and shared commitment to our mission position XBiotech to fully realize the potential of our True-Human antibody therapies.”
Dr. Shivaswamy has been with XBiotech for 17 years, having served as Senior Scientist, Director and Vice President of Research & Development prior to her appointment as Chief Scientific Officer in 2017. As CSO, Dr. Shivaswamy oversaw scientific and technical operations spanning R&D through GMP production of antibodies. In December of 2025, Dr. Shivaswamy was named interim CEO following the retirement of Founder John Simard.
“ As our industry evolves, so must our approach to leadership,” said Dr. Shivaswamy. “Appointing Jan-Paul Simard as Co-CEO reflects our commitment to staying proactive, adaptive, and relentlessly focused on execution. He brings a distinct perspective and operational continuity that strengthens our decision-making. I look forward to working side-by-side to deliver lasting value to our patients and shareholders”.
Jan-Paul Simard started at XBiotech in 2012 as an R&D assistant before transitioning in 2020 to the clinical development team, where he contributed to study design and protocol development across clinical trials in pancreatic cancer, non-small cell lung cancer, osteoarthritis, and rheumatoid arthritis. He has continued his scientific education in Chemistry with Honours at the University of Saskatchewan, further strengthening his expertise in clinical and biological sciences.
“It is an honour to step into this leadership role at such a pivotal moment for XBiotech, especially in tandem with a scientist as accomplished as Dr. Shivaswamy,” said Mr. Simard. “Her leadership as interim CEO has positioned the company to capitalize on its pipeline of drug candidates, and I look forward to partnering with her and our talented team to advance new therapies.”
About XBiotech
XBiotech is a fully integrated global biosciences company dedicated to pioneering the discovery, development and commercialization of therapeutic antibodies based on its True Human™ discovery platform. XBiotech currently is advancing antibody therapies to redefine the standards of care in oncology, inflammatory conditions and infectious diseases. Headquartered in Austin, Texas, XBiotech also is leading the development of innovative biotech manufacturing technologies designed to more rapidly, cost-effectively and flexibly produce new therapies urgently needed by patients worldwide. For more information, visit
www.xbiotech.com
.
Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements, including declarations regarding management's beliefs and expectations that involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "would," "could," "expects," "plans," "contemplate," "anticipates," "believes," "estimates," "predicts," "projects," "intend" or "continue" or the negative of such terms or other comparable terminology, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to inherent risks and uncertainties in predicting future results and conditions that could cause the actual results to differ materially from those projected in these forward-looking statements. These risks and uncertainties are subject to the disclosures set forth in the "Risk Factors" section of certain of our SEC filings. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate, may differ materially from the forward-looking statements contained in this press release. Any forward-looking statements that we make in this press release speak only as of the date of this press release. We assume no obligation to update our forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.
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