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Astion Pharma Appoints Lars Smedegaard Andersen As New President and CEO


3/8/2007 11:50:05 AM

COPENHAGEN, Denmark, March 8 /PRNewswire/ -- The Board of Directors of Astion Pharma A/S has appointed Lars Smedegaard Andersen, EVP Commercial Affairs, new President and CEO of the Company. The management change is implemented to prepare the organisation for progressing the first drug candidates for therapeutic treatment of severe skin diseases into Phase III.

Lars Smedegaard Andersen joined Astion Pharma in May 2005 to head the commercial development of the Company. He holds more than 15 years of international experience in drug commercialisation with H. Lundbeck A/S, where he helped build up H. Lundbeck's international sales organisation and before then held management positions in in- and out-licensing activities and product registration. Lars Smedegaard Andersen is 45 years old and holds an MBA and a Ph.D.

Astion's current President and CEO and founder of the Company, Morten Sloth Weidner, retires from the Executive Management, but will continue as a full-time special adviser to the Company.

- As founder of the Company, Morten Sloth Weidner has been the driving force behind the current list of development candidates. Astion has an ambitious goal of selecting one new candidate for clinical development each year, and we need Morten to focus all his innovative capabilities on this going forward, said Jan Fogh, Chairman.

Astion Pharma's Executive Board now consists of Lars Smedegaard Andersen, President & CEO, and Henrik Moltke, CFO.

- Astion Pharma is close to its goal of becoming a commercial pharmaceutical company offering products for the treatment of severe skin diseases. The Company has several candidates in Phase II and expects to be able to bring products into Phase III already in 12 to 18 months. The next major challenge the Company faces will be to move on into the pivotal phases of product development and get ready to launch pharmaceuticals on markets in Europe. With the management change, we have prepared ourselves for the development and commercial challenges we will be facing, Fogh added.

Astion Pharma A/S develops pharmaceutical products for the treatment of skin diseases. It is estimated that one person in four worldwide will suffer from a skin diseases sometime in life, causing a deterioration of their quality of life. It is the Company's goal to become a leading player in the treatment of skin diseases for which there is currently a major need for new and better therapies. Astion Pharma has a strong platform of proprietary technologies for the development of new and innovative products. The Company pursues development activities through a strong international network of scientific partners and leading contract research organisations. The Company currently has three development projects in Phase II clinical studies in hand dermatitis, seborrheic dermatitis and cutaneous lupus in addition to a large portfolio of product candidates and research projects in earlier phases. For additional information please visit our web site: www.astion.com.

Astion Pharma A/S

CONTACT: Contacts: Jan Fogh, Chairman, Tel: +45-48104080. Lars SmedegaardAndersen, President & CEO, Tel: +45-41128551, E-mail: lsa@astion.com



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