Algeta Appoints Dr Andreas Menrad as Chief Scientific Officer
August 19, 2013 - Oslo, Norway
Algeta ASA (OSE: ALGETA), a company focused onthe development of novel targeted cancer therapeutics, is pleased toannounce the appointment of Dr Andreas Menrad as Chief ScientificOfficer (CSO) and member of the executive management team. In this newlycreated role, Dr Menrad will be responsible for developing andexecuting the Company's research strategy, including its TargetedThorium Conjugate (TTC) platform. He will lead a rapidly growing andhighly experienced R&D team. Dr Menrad will report directly to AndrewKay, Algeta's President & CEO, and takes up his position immediately.
Dr Menrad brings more than 20 years of experience in thepharmaceutical and biotech industry, with a strong background in oncologytherapeutic development. He joins Algeta from Ablynx NV, where he was CSO.Prior to this, Dr Menrad spent five years at Genzyme (Sanofi) inCambridge (UK), where most recently he held the role of General Managerand Vice President of Antibody Therapeutics. Before that, he spent 15years at Schering AG in senior research roles focused on oncology andantibody engineering. He is an author on more than 30 patents and morethan 25 peer-reviewed publications. Dr Menrad received his PhD inImmunology from the University of Stuttgart and conducted post-doctoralresearch at the Wistar Institute Cancer Center (Philadelphia, PA, USA).
With the appointment of Dr Menrad, Dr Thomas Ramdahl, the Company'sExecutive Vice President will become Algeta's Chief OperatingOfficer (COO) with responsibilities for key aspects of theCompany's European operations, its global manufacturing assets as well asthe intellectual property portfolio.
Andrew Kay, Algeta's President & CEO, said: "Andreas brings awealth of complementary skills and experience to Algeta from hissuccessful career in therapeutic research and development. We areconfident that, in this key strategic leadership role, he will guidethe development and direction of our research team as we seek to create apipeline of development candidates. I would also like to congratulateThomas on his appointment as Algeta's COO, a new position thatreflects the Company's commercial evolution and our globalmanufacturing capabilities."
Andreas Menrad, Algeta's Chief Scientific Officer, added: "Algetahas an exceptional opportunity to establish a leading position in the fieldof targeted cancer therapeutics, including via its unique thorium-227alpha-pharmaceutical payload. I am excited to join the Company at a timeof significant momentum and I look forward to working to further developand advance Algeta'sworld-class technologies and capabilities."
Algeta is a company focused on developing novel targeted therapies forpatients with cancer based on its alpha-pharmaceutical platform.The Company is headquartered in Oslo, Norway, and has a US subsidiary,Algeta US, LLC, based in Cambridge, MA performing commercial marketingoperations in the US. Algeta is listed on the Oslo Stock Exchange(Ticker: ALGETA). For more information please visit www.algeta.com.
This news release contains certain forward-looking statements that arebased on uncertainty, as they relate to events and depend oncircumstances that will occur in the future and which, by their nature, mayhave an impact on results of operations and the financial conditionof Algeta. Suchforward-looking statements reflect our current views and are based on theinformation currently available to Algeta. Algeta cannot give any assuranceas to whether such forward looking statements will prove to be correct.These forward looking statements include statements regarding futuredevelopment activities generally and our TTC program in particular. Thereare a number of factors that could cause actual results and developmentsto differ materially from those expressed or implied by theseforward-looking statements. These factors include, among other things,risks or uncertainties associated with the success of future clinicaltrials, collaborations with other companies in the development oftargeting molecules, general economic and business conditions anddifficulties of obtaining relevant governmental approvals for newproducts, and the other risks and uncertainties described in our annualreport.
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Source: Algeta ASA via Thomson Reuters ONE
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