BioInvent announces that Michael Oredsson will resign as CEO of BioInvent 31 December 2017.
Lund, Sweden – 24 October 2017 – BioInvent (OMXS: BINV) announces that Michael Oredsson will resign as CEO of BioInvent 31 December 2017. Michael took office as CEO of BioInvent in 2013 to restructure the company and refocus on oncology. Now, both the board and Michael believe that it is a good time for a change in leadership, as the company is transitioning to a specific focus on clinical development and R&D.
“On behalf of the board, I would like to thank Michael for a highly valuable contribution to the company. He has been instrumental in taking the company through a critical phase and I wish him all the best in the future”, says Björn O. Nilsson, Chairman of the Board.
“The challenges of a biotech company are many, but with highly skilled and devoted employees, my work has been both rewarding and stimulating. It has been a privilege to lead the BioInvent organization, but the company now needs more scientific skills in the CEO role. I will of course continue to follow the company closely”, says Michael Oredsson.
The board has initiated a process to recruit a new CEO. If a new CEO is not in place by 1 January, 2018, the present CSO, Björn Frendéus, will serve as acting CEO until the new CEO has been appointed and taken office.
Notes to editors:
About BioInvent
BioInvent International AB (OMXS: BINV) is focused on the discovery and development of novel and first-in-class immuno-regulatory antibodies to treat cancer. The Company’s clinical programmes are BI- 1206, currently in a Phase I/II for non-Hodgkin’s lymphoma and chronic lymphatic leukaemia and TB- 403, in cooperation with Oncurious, currently in Phase I/II for medulloblastoma. BioInvent has an extensive pre-clinical portfolio based on novel immuno-modulatory antibodies that target regulatory T cells (T-regs) and tumour-associated myeloid cells. In December 2016, the Company signed a strategic research collaboration with Pfizer Inc. BioInvent also works with leading academic institutions including the University of Southampton, Cancer Research UK, and Penn Medicine. BioInvent generates revenues from global partnerships, including Bayer Pharma, Daiichi Sankyo, and Mitsubishi Tanabe Pharma and from its manufacturing facility for the production of antibodies for research through to late- stage clinical trials. More information is available at www.bioinvent.se
For further information, please contact:
President and CEO
+46 (0)46 286 85 67
+46 (0)707 16 89 30
michael.oredsson@bioinvent.com
Michael Oredsson
Björn O. Nilsson
Chairman of the Board
+46 (0)70-218 15 00
BioInvent International AB (publ)
Co. reg. No. 556537-7263
Visiting address: Sölvegatan 41
Mailing address: 223 70 LUND
Phone: +46 (0)46 286 85 50
