Nomination Committee proposes changes of the Board of Directors of PledPharma
January 19, 2017
PledPharma AB Company Announcement Nomination Committee proposes changes of the Board of Directors of PledPharma Stockholm, 2017-01-19 08:00 CET (GLOBE NEWSWIRE) -- PledPharma today announced that the company's Nomination Committee has submitted a proposal for a new composition of the Board of Directors for consideration at an extraordinary shareholders meeting held on February 10, 2017 PledOx®, PledPharma's lead-candidate drug, has in a Phase IIb study shown to reduce the nerve damage associated with chemotherapy in a significant and clinically relevant manner. In autumn 2016, the company decided to develop PledOx® through the final registration studies. Meanwhile, the start of a clinical study with Aladote® - a candidate drug to reduce liver damage from paracetamol poisoning is being planned. The Nomination Committee considers that this implies the need for strengthened competence of the Board in the areas of Phase III clinical development and registration procedures. The Nomination Committee therefore proposes changes to the Board by new election of Gunilla Osswald and Elisabeth Svanberg. Board members Håkan Åström (chairman) and Sten Nilsson will remain on the board. Gunilla Osswald (born 1961) M.Pharm.Sci., Ph.D. Gunilla holds a Ph.D. in Biopharmaceutics and Pharmacokinetics and is the CEO at BioArctic AB. She has extensive experience in drug development including clinical drug development, in big pharma and biotech, with a documented track record of project delivery from preclinical to regulatory submission and launch. She built an innovative Neurodegeneration project portfolio for AstraZeneca including in- and out-licensing of projects. Gunilla has led BioArctic to important deliveries including partnering deal with AbbVie, new contracts with Eisai and funding from Horizon2020 and Vinnova. Elisabeth Svanberg (born 1961) MD, Ph.D. Elisabeth is a general surgeon and associate professor of surgery and Chief Development Officer at Ixaltis SA, a specialty pharmaceutical company developing proprietary therapeutics to treat genitourinary (GU) disorders with unmet medical need. Her career in the pharmaceutical industry started when she joined Serono International in 2000. Initially in the field of metabolism and subsequently held roles of increasing responsibilities before joining Bristol Myers Squibb (BMS) in the United States in 2007 serving as development leader a first in class novel diabetes medicine and as Head of Medical Affairs for the Intercontinental region. Between 2014-2016 Elisabeth worked at Janssen Pharmaceuticals (a Johnson & Johnson Company) as Vice President, Head of the Established Products group managing a portfolio of 90 products, used by an estimated 150 million patients globally. The Nomination Committee consists of Staffan Persson (Chairman), Peter Lindell, Astrid Samuelsson and Håkan Åström (Adjunct). For further information, please contact: Staffan Persson, Chairman of Nomination Committee Tel: +46 703 21 00 98 Håkan Åström, Chairman of the Board Tel: +46 703 74 72 13 About PledPharma PledPharma develops new drugs that protect the body against oxidative stress – a potentially debilitating and sometimes life-threatening condition that can be caused by chemotherapy treatment and following acetaminophen (paracetamol) overdose. The company's most advanced project PledOx® reduces nerve damage associated with chemotherapy and positive results from the Phase IIb study PLIANT were presented during the spring of 2015. The drug candidate Aladote® is being developed to reduce the risk of acute liver failure associated with acetaminophen poisoning. PledPharma (STO: PLED) is listed on Nasdaq First North. Erik Penser Bank is the company’s Certified Adviser (tel +46 8 463 80 00). For more information, see www.pledpharma.se This information is information that PledPharma AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at CET 8:00 on January 19, 2017.