Bionor Pharma ASA : Bionor Pharma Appoints Anker Lundemose as President and Chief Executive Officer

 Bionor Pharma ASA : Bionor Pharma Appoints Anker Lundemose as President and
                           Chief Executive Officer

The Appointment Considerably Strengthens Bionor Pharma`s Partnering
Capabilities

(Oslo,29 January 2013) Bionor Pharma ASA (OSE: 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 Krøyer, 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 Krøyer, 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 Krøyer 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 Sørensen 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. Høie, Chairman of the Board. "The board will
also use this opportunity to thank Steen Krøyer, whohas done an excellent job
preparing Bionor Pharma for a new and commercially driven phase of the
Company`s development."

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®
(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 humans.

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 HIV-infection.

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 products.
More information about Bionor Pharma is available at www.bionorpharma.com. 

This information is subject of the disclosure requirements acc. to §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. Høie, MD, PhD, Chairman
Hilde Aalling Syvertsen, Director Communications & Corporate Affairs

USA Contact:
David Sheon +1 202 422-6999

dsheon@WHITECOATstrategies.com

------------------------------------------------------------------------------

This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
the
information contained therein.

Source: Bionor Pharma ASA via Thomson Reuters ONE
HUG#1673741
 
Press spacebar to pause and continue. Press esc to stop.