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Pharmalink AB Strengthens its Board of Directors and Signals a Strategic Step Towards Late Phase Product Development

STOCKHOLM, April 23 /PRNewswire/ -- Pharmalink AB today announced that it has strengthened its Board of Directors as the company's portfolio continues to move towards late stage product development and commercialization. Two highly experienced pharmaceutical and biotechnology advisors, Anders Wiklund and Jens Christensen, are joining the Board. In addition, Lennart Hansson, Director of the lifesciences business area at Industrifonden joins the Board as the Industrifonden representative.

Lennart Hansson, PhD, has a broad experience in the life science sector having worked in leading and executive positions at KabiGen, Symbicom, AstraZeneca, Arexis, Biovitrum and Karolinska Development. Dr Hansson replaces retiring Board member Professor Jorgen Lonngren. Industrifonden is an independent foundation founded by the Swedish state in 1979 and which operates on a commercial basis without outside capital. Revenues are returned to new investments. Industrifonden was an early investor in Pharmalink and holds around 15% the Company.

Mr Anders Wiklund, MPharm, has been an advisor to the biotechnology industry since 1997 when he founded Wiklund International Inc. Previously, Mr Wiklund spent 29 years with the Pharmacia Group of companies in a number of executive positions, ultimately serving as President of Pharmacia Development Corp and Vice President of Pharmacia Upjohn, working in the US. In his advisory role, Mr Wiklund has worked with companies in the US, Canada and Scandinavia, and he was also a co-founder of Esperion Therapeutics Inc. Presently Mr Wiklund serves on the board of QuatRx Inc, Gyros AB, and EffRx Inc, where he also is President. Mr Wiklund replaces retiring Non-Executive Board member Mr Anders Lonner.

Jens Kristensen, MD, PhD, is VP of Clinical Development at KaroBio AB, a public Swedish drug development company. As a specialist in anaesthesiology/intensive care and in pharmaceutical medicine, Dr Kristensen has long-term experience of clinical work. In 1998 Dr Kristensen joined the pharmaceutical industry and has since worked at AstraZeneca, BioFactor and Melacure. Dr Kristensen brings to Pharmalink broad competence from his experience in the late phases of pharmaceutical development, both strategically and operationally.

"We are very pleased to have attracted three such highly skilled and regarded professionals to the Pharmalink Board," said Bengt Julander, Chairman of Pharmalink. "There are substantial milestones ahead. Our development programs on Nefecon(R), Xepol(R) and Busulipo(TM) have reached a stage of maturity when it is time to start pivotal trials and planning for commercialization. The new board members bring proven and highly relevant skills and experience in late phase product development, in business development and in sales and marketing."

"The new Board members' industry expertise will be invaluable as we develop our strategies to build the company in the coming years both through commercializing our existing portfolio and in expanding our pipeline," said Johan Haggblad, Managing Director of Pharmalink. "We also want to thank Anders Lonner and Jorgen Lonngren, who are leaving the Board, for their years of dedicated contributions and guidance."

About Pharmalink

Pharmalink AB is a privately held Swedish specialty pharma company that develops proprietary pharmaceutical products in fields of unmet medical need. Pharmalink has adopted a reformulation/repurposing strategy and has a vast international network of physicians, biotech companies, CMOs, CROs and specialist consultants. Pharmalink has a track record of introducing more than 15 pharmaceutical products to market. Pharmalink currently has three clinical phase development projects mature for out-licensing: Nefecon(R), an effective treatment of IgA nephropathy; Xepol(R), the first effective treatment of neurology indication post-polio syndrome; and Busulipo(TM), a safer alternative for myeloablation prior to bone marrow transplantation. Pharmalink also seeks to refill its development pipeline by inlicensing.

    For further information, please contact:

    Johan Haggblad, Managing Director, +46-(0)70-668-0644
    Citigate Dewe Rogerson:
    Chris Gardner/Nina Enegren, +44-207-638-9571

SOURCE Pharmalink AB
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