XBiotech names Jan-Paul Simard co-CEO alongside Dr. Sushma Shivaswamy

XBiotech Inc. (NASDAQ: XBIT) has elected Jan-Paul Simard to serve as Co-Chief Executive Officer alongside Dr. Sushma Shivaswamy, with the appointment effective October 23, 2026. The company announced the leadership change on October 23, 2026, in a filing with the U.S. Securities and Exchange Commission.

Director Tevi Troy stated that the board is pleased to name Dr. Shivaswamy and Mr. Simard as Co-Chief Executive Officers. Troy noted that their complementary skill sets, scientific acumen, and shared commitment to the company's mission position XBiotech to fully realize the potential of its True-Human antibody therapies.

Dr. Shivaswamy has been with XBiotech for 17 years. Before her appointment as Chief Scientific Officer in 2017, she served as Senior Scientist, Director, and Vice President of Research & Development. In that role, she oversaw scientific and technical operations spanning research and development through GMP production of antibodies. Dr. Shivaswamy was named interim CEO in December 2025 following the retirement of founder John Simard.

Dr. Shivaswamy said that as the industry evolves, the company's approach to leadership must also evolve. She described the appointment of Jan-Paul Simard as a reflection of the company's commitment to staying proactive, adaptive, and focused on execution. She stated that he brings a distinct perspective and operational continuity that strengthens decision-making, and she expressed her intention to work alongside him to deliver value to patients and shareholders.

Jan-Paul Simard joined XBiotech in 2012 as an R&D assistant. In 2020, he moved to the clinical development team to help design studies and protocols for trials covering pancreatic cancer, lung cancer, osteoarthritis, and rheumatoid arthritis. He is also continuing his studies in Chemistry with Honours at the University of Saskatchewan.

Mr. Simard described stepping into the leadership role as an honour, particularly in tandem with Dr. Shivaswamy. He said her leadership as interim CEO has positioned the company to capitalize on its pipeline of drug candidates. He expressed his intention to partner with her and the team to advance new therapies.

XBiotech is a global biosciences company dedicated to the discovery, development, and commercialization of therapeutic antibodies based on its True Human discovery platform. The company is advancing antibody therapies in oncology, inflammatory conditions, and infectious diseases. Headquartered in Austin, Texas, XBiotech is also developing biotech manufacturing technologies designed to produce new therapies more rapidly and cost-effectively.