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Axelar's Board Strengthened
Date:4/27/2010

STOCKHOLM, April 27, 2010 /PRNewswire/ -- Axelar AB, a Karolinska Development portfolio company, today announces that Goran Pettersson has been elected new chairman of the board and Ingemar Kihlstrom board member. Both have vast international experience from leading positions in the pharmaceutical industry.

"We have just secured 25 MSEK financing for the continued development of Axelar's anticancer compound "AXL1717". It's encouraging that we at the same time are able to further strengthen the board with Goran and Ingemar, both having so much international experience from the pharmaceutical industry. They will contribute with valuable knowledge in the continued development of Axelar," says Johan Harmenberg, CEO Axelar AB.

Goran Pettersson has held leading positions in Astra, KabiVitrum, Pharmacia/PharmaciaUpJohn and Meda. Currently, he is also chairman of the board in Medivir AB, OxyPharma AB and Vivoxid Oy, and board member in Diamyd Medical AB, Pfizer Sweden Pensionsstiftelse and Recipharm AB.

Ingemar Kihlstrom has held leading positions in Pharmacia, Aros Securities and ABG Sundal Collier. He is currently serving as board member in a number of Scandinavian companies including being chairman of the board in Artimplant AB, Creative Antibiotics AB, Hammercap AB and RecoPharma AB, and vice chairman of the board in Diagenic ASA.

TO THE EDITORS

About Axelar

Axelar is a Swedish biotech company founded in 2003. The company is developing an insulin-like growth factor-1 (IGF-1) receptor inhibitor for cancer treatment. Axelar is part of the K
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SOURCE Karolinska Development and Axelar
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