Oslo, Norway, June 14, 2010
Clavis Pharma ASA (OSE: CLAVIS) announces the sad news that Bo I. Nilsson, its Chief Medical Officer, died on 10 June following a long battle with cancer. Dr Nilsson, aged 62, joined Clavis in May 2007.
Olav Hellebø, CEO, said: "Bo was a valued colleague and friend to the entire Clavis Pharma family. He brought great knowledge and experience of cancer drug development to Clavis from a long and successful career in the pharmaceutical industry Dr. Nilsson has contributed greatly to the progress of our drug pipeline and we hope that many other cancer patients will benefit from his efforts in the future. It is with great sadness that we announce his death. On behalf of us all at Clavis, I would like to extend our deepest condolences to Elsa and Bo's entire family."
Bo Nilsson joined Clavis Pharma in 2007 as the Company's first Chief Medical Officer. At that time, the Company's lead development candidate, elacytararbine, was in the early phase of clinical development within haematology and the second development candidate, CP-4126, was in clinical Phase I in solid tumours. With his wide experience in haematology and oncology - both from medical practice and the pharmaceutical industry - he immediately assumed an important position in the Company. He brought to Clavis Pharma not only his own competence and experience, but also a wide network of haematologists and oncologists around the world. Bo contributed strongly to the clinical development plans for both products, formulating the strategy which currently has moved both products forward into pivotal clinical trials. In particular, he saw the clinical importance of the human equilibrative transporter 1 (hENT1) which is now a key element in the strategy for these drug candidates. He has served as medical advisor to all the Company's clinical trials since he joined, on a day to day basis taking difficult and important decisions regarding medical issues with the drugs being tested in clinical studies. He has also headed the clincial department in Clavis Pharma, coaching his colleagues in scientific and human relations matters. As a CMO he served as a member of the executive management of Clavis Pharma, where he would share from his vast industry experience within and beyond clinical matters.
For further information contact:
Olav Hellebø
Chief Executive Officer
+47 24 11 09 50
olav.hellebo@clavispharma.com
Gunnar Manum
Chief Financial Officer
+47 24 11 09 71
+47 95 17 91 90 (mob)
gunnar.manum@clavispharma.com
Mark Swallow / Nina Enegren / David Dible
Citigate Dewe Rogerson
+44 207 282 2948
clavispharma@citigatedr.co.uk
About Clavis Pharma
Clavis Pharma ASA is a clinical stage oncology drug development company based in Oslo, Norway with a portfolio of novel anti-cancer
drugs in development. These patented New Chemical Entities (NCEs) are novel, improved versions of commercially successful
drugs, made using Clavis Pharma's Lipid Vector Technology (LVT) chemistry. Data generated suggests these potential breakthrough
products may offer improved efficacy and reduced side effects through enhanced pharmacokinetic properties, greater tissue
penetration, altered metabolism and, in certain cases, additional modes of action.
Clavis Pharma's has several drug candidates in formal development studies:
- Elacytarabine, an improved form of Ara-C, a leukaemia drug - about to commence a Phase III randomized, controlled registration study in late-stage acute myeloid leukaemia;
- Intravenous CP-4126, an improved version of gemcitabine - currently in a Phase II comparative study with gemcitabine for the treatment of pancreatic cancer;
- CP-4200, an azacitidine derivative - in preclinical development for myelodysplastic syndrome (MDS), often a precursor to myeloma or leukaemia.
Clavis Pharma intends to commercialise its products through strategic alliances and partnerships with experienced oncology businesses and, where and when commercially appropriate, by establishing its own sales and marketing capabilities. CP-4126 is licensed to Clovis Oncology in the Americas and Europe. Clavis Pharma has retained rights in other territories and an option to co-promote CP-4126 in Europe.
The shares of Clavis Pharma ASA are listed on the Oslo Stock Exchange (ticker: CLAVIS).
Disclaimer
This news release contains forward-looking statements and forecasts based on uncertainty, since they relate to events and
depend on circumstances that will occur in the future and which, by their nature, will have an impact on results of operations
and the financial condition of Clavis Pharma. There are a number of factors that could cause actual results and developments
to differ materially from those expressed or implied by these forward-looking statements. Theses factors include, among other
things, risks associated with technological development, the risk that research & development will not yield new products
that achieve commercial success, the impact of competition, the ability to close viable and profitable business deals, the
risk of non-approval of patents not yet granted and difficulties of obtaining relevant governmental approvals for new products.
No expressed or implied representations or warranties are given concerning Clavis Pharma or the accuracy or completeness of the information provided herein, and no claims shall be made by the recipient hereof by virtue of this News Announcement or the information contained herein.
Clavis Pharma(TM) is a registered trademark of Clavis Pharma ASA.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)