Hilde Furberg and Paolo Pucci Elected as New Members of Algeta’s Board of Directors

OSLO, NORWAY--(Marketwired - April 12, 2013) - Algeta ASA (OSE: ALGETA), a company focused on the development of novel targeted cancer therapeutics, is very pleased to announce that Mrs Hilde Furberg and Mr Paolo Pucci were elected as new Non-executive members of its Board of Directors at the Company’s annual general meeting held in Oslo on 11 April 2013.

Hilde Furberg (born 1958) has 30 years of experience in the pharmaceutical industry. She is currently Senior Vice President Rare Disease EMEA at Genzyme (Sanofi), which she joined in 2002. She opened the first operation for Genzyme in the Nordic region and has also had management responsibility for Genzyme in the BeneLux region. Prior to Genzyme, Mrs Furberg spent 15 years at Baxter in various business roles of increasing seniority. She is a Non-executive Director on the Board of Clavis Pharma ASA and is a board member of Copenhagen Capacity. Previous board memberships include Probi AB and Pronova Biopharma ASA (until the acquisition by BASF).

Mrs Furberg holds a Master of Science degree in Nuclear Analytical Chemistry from the University of Oslo. She is a Norwegian citizen and resides in de Naarden, Netherlands.

Mrs Furberg holds 200 shares and no options in Algeta ASA and she has not worked as a consultant for the Company.

Paolo Pucci (born 1961) is Chief Executive Officer and member of the Board of Directors of ArQule Inc., a US-based, Nasdaq-listed cancer therapeutics company, which he joined in 2008. Before this, Mr Pucci was at Bayer AG, where he held sequential responsibilities as Country Head Bayer Italy Pharmaceuticals, President & SVP Bayer Pharmaceuticals North America - Global Specialty Pharmaceuticals, and member of the Bayer Pharmaceuticals Executive Committee. He concluded his tenure at Bayer as President in charge of the Bayer- Schering Pharmaceuticals Global Oncology/Specialized Therapeutics Business Units and was instrumental in building Bayer’s global oncology franchise for Nexavar(®). Prior to this, Mr Pucci held positions of increasing responsibility with Eli Lilly between 1992 and 2001, culminating with his appointment as Managing Director, Eli Lilly Sweden AB. Mr Pucci is Non-executive Director on the Board of Dyax, Inc.

Mr Pucci holds an MBA from the University of Chicago and is a graduate of the Universita Degli Studi Di Napoli in Naples, Italy. Mr Pucci is an Italian citizen and resides in Boston, MA, USA.

Mr Pucci holds no shares and no options in Algeta ASA and he has not worked as a consultant for the Company.

Stein Holst Annexstad, Algeta’s Chairman, said: “We are very pleased to welcome Hilde and Paolo to the Algeta Board. Between them, they have a wealth of experience in the global pharma industry and particularly in the clinical and commercial development of innovative targeted cancer therapies. We look forward to the valuable contributions they will make to the further growth and development of Algeta. We would also like to thank Ingrid Wiik and Joe Anderson, who stepped down from the Board at the AGM, for their efforts and input over their respective periods with the Company.”

About Algeta

Algeta is a company focused on developing novel targeted therapies for patients with cancer based on its alpha-pharmaceutical platform. The Company is headquartered in Oslo, Norway, and has a US subsidiary, Algeta US, LLC, based in Cambridge, MA performing commercial marketing operations in the US. Algeta is listed on the Oslo Stock Exchange (Ticker: ALGETA). For more information please visit www.algeta.com.

Press release:

http://hugin.info/134655/R/1692548/556075.pdf

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Source: Algeta ASA via Thomson Reuters ONE

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