Håkan Åström and Peter Buhl Jensen to the board of PledPharma

Oct 26, 2010

PledPharma has appointed Håkan Åström as Chairman and Peter Buhl Jensen as Board Director.

Håkan Åström has extensive experience from the pharmaceutical industry. He is today Chairman of Orexo AB, Affibody Holding AB and Ferrosan Holding A/S as well as Board Director of Rhenman & Partner Asset Management. Håkan Åström has previously been Chairman of Biovitrum AB and Topotarget A/S and also Board Director at the Karolinska Institute.

Håkan Åström is also the former CEO of e.g. Travenol AB (Baxter Inc.), Astra Pharmaceuticals Ltd and Kabi Pharmacia AB. He was Head of Corporate Strategy and Communications at Pharmacia Corporation as well as CEO for Pharmacia AB from 1997 – 2003.

Peter Buhl Jensen is Professor in Clinical Oncology at Copenhagen University, MD, DMSc and Chief Oncologist at the Department of Oncology, Ålborg Hospital. He has published more than 100 scientific papers on drug development within oncology.

Peter Buhl Jensen was cofounder of the Danish cancer therapeutics company Topotarget in year 2000 and was CEO from 2001 – 2010. Topotarget was listed on the Copenhagen Stock Exchange in 2005 and has today a share value of approximately US$ 100 million. Peter Buhl Jensen is currently CEO for LiPlasome Pharma ApS and Board Director of Vecata A/S, Proof of Concept Board- DTU-KU-Risø, Symbion A/S and WNT Research AB.

PledPharma presented positive Phase IIa data in June from a study in colon cancer patients that demonstrated that PledPharma´s PP-095 statistically significantly reduced serious and life threatening dose-limiting side effects of the chemotherapy FOLFOX. The study results confirm that the company’s concept works and is effective.

In order to facilitate for PledPharma to develop as a successful pharmaceutical company, the parent company Accelerator Nordic AB plans to hand out its share of PledPharma to the shareholders of Accelerator during the spring of 2011. PledPharma plans to list their shares at NASDAQ OMX First North stock exchange and in conjunction with this, issue new shares in order to finance the continued development.

Accelerator Nordic AB owns approximately 69 percent of PledPharma.

PledPharma develops therapies for severe and life threatening diseases. The company´s products will reduce serious side effects of existing therapies and has the potential to increase patient survival and thereby increasing the therapeutic effectiveness. PledPharma focuses on the clinical development phase since the projects stem from a clinically established therapy. PledPharma has currently two projects in clinical Phase II, one within oncology and one within cardiology. Both products address large medical needs and have great market potentials.

For more info, see www.pledpharma.se