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Thomas Axelsson Appointed Acting CEO of Vitrolife


11/17/2011 7:04:01 AM

GÖTEBORG, Sweden--(BUSINESS WIRE)-- Regulatory News: Thomas Axelsson, who has long experience of managing companies within the medical device field, is taking over responsibility for the fertility area and the Vitrolife Group (STO:VITR.ST - News), and will be Acting CEO while the recruitment process is ongoing to find a permanent CEO.

As was announced on October 31, 2011, Magnus Nilsson will, after nine years as CEO of Vitrolife, in the time ahead focus on managing the subsidiary Xvivo Perfusion AB. Xvivo, with business in the organ transplant area, is now in an intensive and exciting phase of development that requires greater focus, and will be a more independent unit within the Vitrolife Group.

Thomas Axelsson, born in 1959, has amongst other things been CEO of Stille and Artema, and is Chairman of the Board of amongst other things Dipylon Medical AB (formerly CMA Microdialysis AB) and Airsonett AB. Thomas is also a member of the Board of MedCap AB, listed on First North.

“I have worked with Thomas on the Board of CMA and have great confidence in his experience and ability to lead Vitrolife,” says Magnus Nilsson.

“We now have a solution in place that we are very pleased with. Magnus can concentrate to the full on working with our transplantation area, while Thomas with his competence and experience of managing medical device companies will work to drive the fertility area and the Vitrolife Group forward while we recruit a permanent CEO,” says Patrik Tigerschiöld, Chairman of the Board.

The work on finding a new permanent Director of the fertility area and CEO is ongoing.

Gothenburg, November 17, 2011

VITROLIFE AB (publ)

Patrik Tigerschiöld

Chairman of the Board

Vitrolife is a global biotechnology/medical device Group that works with developing, manufacturing and selling advanced products and systems for the preparation, cultivation and storage of human cells, tissue and organs. The company has business activities within three product areas: Fertility, Transplantation and Stem Cell Cultivation. The Fertility product area works with nutrient solutions (media), cryopreservation products and advanced consumable instruments such as needles and pipettes, for the treatment of human infertility. The Transplantation product area works with solutions and systems to evaluate and maintain organs outside the body in order to select usable organs and keep them in optimal condition while waiting for transplantation. The Stem Cell Cultivation product area works with media and instruments to enable the use and handling of stem cells for therapeutic purposes.

Vitrolife today has approximately 220 employees and its products are sold in approximately 90 markets. The company is headquartered in Gothenburg, Sweden, and there are subsidiaries in USA, Australia, France, Italy, United Kingdom and Japan. Production facilities are located in Sweden and the USA. The Vitrolife share is listed on NASDAQ OMX Stockholm, Small Cap.

Vitrolife AB (publ), Box 9080, SE-400 92 Göteborg, Sweden. Corporate identity number 556354-3452.

Tel: 46 31 721 80 00. Fax: 46 31 721 80 90. E-mail: info@vitrolife.com. Website: www.vitrolife.com

Vitrolife is required to publish the information in this press release in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on November 17, at 8:30 a.m.

This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.

This information was brought to you by Cision http://www.cisionwire.com

Contact:

Patrik Tigerschiöld

phone 46 8 614 00 22

or

Thomas Axelsson

phone 46 31 721 81 48

or

Magnus Nilsson

phone 46 31 721 80 61


Read at BioSpace.com

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