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Gunnar Casserstedt Joins Sopherion Therapeutics, Inc. As CFO


10/19/2005 5:09:43 PM

NEW HAVEN, Conn., Jan. 20 /PRNewswire/ -- Sopherion Therapeutics, Inc., a biotechnology company leveraging its proprietary technology platforms to design, develop and commercialize innovative targeted pharmaceutical therapies in the fields of oncology, allergy, asthma and osteoporosis, today announced Gunnar Casserstedt has been appointed to the newly created position of Chief Financial Officer and Vice President of Finance.

"Gunnar's vast knowledge of R&D finance and his experience in exploring strategic corporate alliances with leading pharmaceutical companies is an invaluable asset to Sopherion," stated Dr. Ronald H. Goldfarb, President and Chief Executive Officer at Sopherion. "We will continue to draw on Gunnar's knowledge and expertise as Sopherion continues to grow and prepares to advance its leading product candidates into the clinic."

Mr. Casserstedt has approximately 30 years of experience in the pharmaceutical industry, directing strategic planning, mergers and acquisitions, business development, research and development portfolio analysis, and finance and operational efficiency processes. Most recently, Mr. Casserstedt was the Vice President, R&D Finance at Pharmacia Corporation, where he led a team of 45 financial analysts and oversaw an annual research and development budget of $2 billion. Additionally, he played an integral role in restructuring processes that followed mergers and acquisitions made by Pharmacia, including Kabi, ACO, FarmItalia Carlo Erba, Upjohn, Monsanto/Searle and Pfizer. Mr. Casserstedt has also held management positions at KabiVitrum, ICI Pharma, Pharma Com AB and Ciba-Geigy AB / Hassle-Ciba-Geigy.

Corporate Promotion

Sopherion has also promoted Salvatore Forenza, Ph.D., to the position of Vice President of Research and Development. Previously, Dr. Forenza was the Vice President of Development at the Company.

About Sopherion Therapeutics, Inc.

Sopherion Therapeutics, Inc. is a privately held, emerging biotechnology company based in New Haven, CT. The Company was formed in 2001, as the result of collaboration among Scheer & Company and Children's Hospital Boston. Sopherion's core technologies and product candidates are based on mechanistic insights that provide versatility and power as drug discovery engines. These technology platforms identify molecules that are able to mimic key biomolecules. The product candidates have biological properties that were designed to specifically and selectively target disease states without harming healthy cells. To date, the Company's pipeline includes therapies with potential applications in the fields of asthma, allergy, oncology, osteoporosis and other human diseases.

Sopherion Therapeutics, Inc.

CONTACT: Ronald H. Goldfarb, Ph.D., President and CEO, of SopherionTherapeutics, Inc., +1-203-672-1500; or Media, Jacqueline Franchetti of JFCI,+1-516-365-2091, for Sopherion Therapeutics, Inc.



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