Oslo, Norway, May 20, 2010
Clavis Pharma ASA (OSE: CLAVIS), the Norwegian cancer drug development company, is pleased to announce that Anders P. Wiklund and Annette V. Clancy have been elected to serve on its Board of Directors as Chairman and non- Executive director, respectively. The decision was taken at the Company's annual general meeting held in Oslo on May 20, 2010 at which Keith McCullagh (former Chairman), Gert Caspritz and Stina Gestrelius stepped down from the board.
Anders P.Wiklund has gained a wealth of business and corporate development experience in the biotechnology and pharmaceutical industry from
a career in Europe and the US spanning 40 years. He spent 29 years with the Kabi and Pharmacia group of companies, where he
held a number of different positions, such as Managing Director of KabiVitrum in the UK, President of KabiVitrum International
in Sweden, President and CEO of KabiVitrum and KabiPharmacia in the USA.
In 1997, he founded Wiklund International, an advisory firm to the biotech industry, working with clients from Europe and
North America as an advisor to CEOs in the areas of strategy, corporate and business development.
The same year, he co-founded Esperion Therapeutics and served for several years on its board of directors prior to its acquisition
by Pfizer for $1.3 billion. He was also head of Business Development for Biacore AB from 1997 to 2003 and he was President
of US company EffRx Inc. from 2007 to 2009.
Anders has also advised a number of venture capital funds in the US and Sweden and served on the board of portfolio companies,
including Ribozyme Pharmaceuticals (US), InSiteVision (US), Trega Bioscience (US), GlycoDesign (Canada), Medivir (Sweden)
and Gyros (Sweden). He currently serves on the board of EffRx, QuatRx and Inspirion Delivery Technologies in the US and Pharmalink
and Life Medical in Sweden.
Annette V. Clancy has more than 25 years experience in the global pharmaceutical industry, predominantly spent with GlaxoSmithKline based in
the US and the UK working in a variety of functions (R&D, Worldwide Strategic Marketing and Licensing/Business Development).
She played a key role in the success of GSK's global business development group and was responsible for structuring and delivering
some of GSK's most innovative deals with the biotech sector over the past 15 years.
Annette currently serves as a senior advisor at the US-based venture capital firm Frazier Healthcare Ventures, and is presently
chair of GSK's Respiratory R&D team and Non-executive Director at Silence Therapeutics PLC.
Anders P. Wiklund, Chairman of Clavis Pharma, commented: "I look forward to working with Clavis Pharma as it enters into a new and exciting phase of both clinical and commercial development. The Company has produced some very promising clinical data from its novel anti-cancer product candidates based on its Lipid Vector Technology. This technology has potential to improve the efficacy of products that have become the backbone of therapy in multiple cancer indications.
"The addition of Annette and me to the Board provides further international commercial experience from which to draw as the
Company advances its strategy to become a successful international cancer-focused drug company. I would like to thank Keith
McCullagh, former chairman, Gert Caspritz and Stina Gestrelius, who stepped down from the Board at our AGM, for their valuable
contribution to the Company over the past few years."
The new board of Clavis Pharma comprises Anders Wiklund (Chairman), Geir Stormorken (Deputy Chairman), Annette Clancy, Carl
Christian Gilhuus-Moe, Kaci Kullman Five, Karol Sikora and Hilde Hermansen Steineger.
For further information contact:
Olav Hellebø
Chief Executive Officer
+47 24 11 09 50 / +44 7833904901 (mob)
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.