Bionor Pharma Appoints Anker Lundemose as President and Chief Executive Officer

Bionor Pharma Appoints Anker Lundemose as President and Chief Executive Officer 
The Appointment Considerably Strengthens Bionor Pharma's Partnering
OSLO, NORWAY -- (Marketwire) -- 01/29/13 --  Bionor Pharma ASA (OSLO:
BIONOR) today announced that Anker Lundemose, MD, PhD, DMSc (Medical
Microbiology), has been appointed as President and CEO of Bionor
Pharma ASA from 1 March 2013. Dr. Lundemose is a Danish citizen, and
replaces Steen Kroyer, who as of 1 March will take the position as
Deputy Chairman of the Board of Directors.  
Anker Lundemose (51) has comprehensive international experience and a
vibrant international network. He has been responsible for successful
mergers and acquisitions within biotech, venture investments, and
licensing. His background includes senior management positions at
biotech startups, large biotech and big pharma, as well as an initial
career in academia.  
Dr. Lundemose has extensive experience from business and corporate
development as well as R&D in several key therapeutic areas including
oncology and anti-infectives. He has been a co-founder of several
biotech companies, significantly increased company valuation from
startup to exit, and raised more than $150 million in private equity. 
Anker Lundemose has been CEO of Prosidion Ltd. in the UK from 2003 to
2005, Executive Vice President OSI Pharmaceuticals, New York City,
U.S. and President of Prosidion Ltd. from 2005 to 2009. Dr. Lundemose
was Executive Vice President Corporate & Business Development, OSI
Pharmaceuticals Inc., from 2009 until Astellas Pharma's acquisition
of OSI in 2010. Anker Lundemose has previously held positions as
Managing Director at OSI Pharma's venture arm in Zug, Switzerland,
and as Business Development Director at Novo Nordisk, Denmark.  
"I am delighted to be joining Bionor Pharma at this crucial point in
its development," said Dr. Lundemose. "Bionor's HIV vaccines have
shown in clinical and preclinical trials unique properties, which the
three ongoing clinical studies aim to further demonstrate. The two
HIV vaccines in combination may have the potential to be part of an
eradication strategy within HIV. In addition, the Company has several
other novel targeted vaccine technologies in its pipeline and an
excellent R&D team, which I look forward to lead going forward."  
The Board of Directors is also very pleased to announce that Steen
Kroyer, who has held the position as interim CEO of the Company since
September 2011, will take the position as Deputy Chairman of the
Board of Directors in accordance with the nomination and election at
the Company's AGM 11 May 2012.  
Steen Kroyer has focused on preparing Bionor Pharma for the
industrial phase of development, including initiation of three
clinical studies for the HIV vaccines Vacc-4x and Vacc-C5. The
ongoing shift from a technology driven company to a development- and
commercial-oriented entity has led to some further organizational
changes, including that one of the founders of Bionor Pharma, Birger
Sorensen has stepped out of his regular employment. 
"We believe that Dr. Lundemose's extensive business experience and
strong scientific background will be of significant value for the
Company's further research and product developments, and for an
upcoming partnering process going forward," says Dr. Lars H. Hoie,
Chairman of the Board. "The board will also use this opportunity to
thank Steen Kroyer, who has done an excellent job preparing Bionor
Pharma for a new and commercially driven phase of the Company's
Please see separate release regarding share-option terms.  
About Bionor Pharma ASA 
Bionor Pharma is a leading vaccine company, listed on the Oslo Stock
Exchange. The Company's investments in developing therapeutic
vaccines exceed US$ 80 million, and the Company has secured funding
of planned scientific and business related activities until mid 2014. 
Bionor Pharma's vaccines are based on the proprietary technology
platform developed following more than two decades of research on
peptides, and they are designed to safely stimulate the immune system
to combat viral diseases.  
HIV Vaccines - Foremost in Development 
The Company's lead HIV candidate, Vacc-4x, has been investigated as a
therapeutic vaccine in a large exploratory phase II randomized,
multinational (USA and 4 European countries), double-blind,
placebo-controlled study. This study showed a statistically
significant reduction in viral load by inducing killing of virus
producing cells. Bionor Pharma's second HIV vaccine candidate,
Vacc-C5, is developed to induce antibodies that can reduce the
harmful hyperactivation of the immune system caused by HIV infection,
which leads to AIDS.  
Bionor Pharma has started three clinical studies which can lead
towards phase III, and first results from these studies are expected
in 2013: 
1. Vacc-4x in combination with Celgene's immune modulator Revlimid(R)
(Lenalidomide), in patients who fail to regain a normal immune system
despite having a well-controlled viral load on conventional HIV
medication (antiretroviral therapy, ART). The researchers at four
clinics in Germany will in this placebo-controlled study investigate
whether Revlimid enhances the effect of Vacc-4x. 
2. Reboosting with Vacc-4x in patients from the phase II study (USA
and 4 European countries), to investigate whether this can result in
a further reduction in viral load. Approximately 40 patients from the
large phase II study with Vacc-4x will take part at 10 clinics. 
3. Clinical phase I/II study with Vacc-C5, at Oslo University
Hospital will investigate safety and efficacy, and whether this
vaccine leads to increased formation of antibodies against HIV in
Bionor Pharma is exploring the possibility to combine Vacc-4x and
Vacc-C5 into one vaccine (Vacc-HIV), which as a therapeutic and
possibly preventive HIV vaccine potentially can eradicate
Vaccines for Other Viral Diseases 
The Company's innovative technology platform is also well suited to
develop vaccines for other viral diseases, including Influenza, HCV
(Hepatitis C), CMV (Cytomegalovirus) and HPV (Human papillomavirus).
The universal influenza vaccine (Vacc-Flu) and Hepatitis C vaccine
(Vacc-HCV) are in preclinical phase of development.  
Business Strategy 
Based on the three new clinical studies with the HIV vaccines, and
preclinical data from the universal influenza- and Hepatitis C
vaccines, Bionor Pharma has started a structured partnering process
aiming at the commercialization of the technology platform and
More information about Bionor Pharma is available at  
This information is subject of the disclosure requirements acc. to
Section 5-12 vphl (Norwegian Securities Trading Act). Vacc-4x,
Vacc-C5, Vacc-Flu, Vacc-HCV, Vacc- CMV and Vacc-HPV are
investigational treatments that have not been approved for marketing
by any regulatory authority.  
Contact information
Bionor Pharma ASA
Oslo: +47 23 01 09 60
Dr. Lars H. Hoie, MD, PhD
Hilde Aalling Syvertsen
Director Communications & Corporate Affairs  
USA Contact:
David Sheon 
+1 202 422-6999 
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