OSLO, Norway, Jan. 9, 2015 (GLOBE NEWSWIRE) -- Bionor Pharma ASA (OSE:BIONOR) announces the appointment of Dr David Horn Solomon as new President and Chief Executive Officer. Dr Solomon will join the Company from NASDAQ OMX listed healthcare company Zealand Pharma A/S (NASDAQ:ZEAL), where he has served as President and CEO since September 2008.
"We are very pleased that David has joined Bionor Pharma at this exciting time for the Company," commented Dr Lars Høie, Chairman of the Board of Bionor Pharma. "David brings a wealth of experience in biotechnology innovation, investor relations, regulatory matters, and advancing new medicines to patients and caregivers, as evidenced by his successful tenure at Zealand Pharma." We look forward to David's leadership, growth and value creation as we await Phase II results from our therapeutic HIV vaccine Vacc-4x and look forward to David and his management team growing Bionor's therapeutic vaccine pipeline."
During his tenure at Zealand, Dr Solomon took the company public in an IPO in November 2010, raising USD 80 million. Zealand's lead product, Lyxumia®, a GLP-1 receptor agonist for the treatment of type 2 diabetes has been approved in over 40 countries and is sold and marketed by Sanofi. Dr Solomon has also raised over USD 150 million in non-dilutive capital and executed 5 major partnerships including with Sanofi, Boehringher Ingelheim, Eli Lilly, Abbevie and Helsinn Healthcare resulting in over USD 1.0 billion in achievable milestones for Zealand.
Dr Solomon studied medicine and immunology at Cornell Medical College and the Sloan Kettering Cancer Center in New York City where he received his doctorate in 1991. Dr Solomon has served as a faculty member at Columbia University's College of Physicians and Surgeons, and headed healthcare investing at Carrot Capital, also in New York City. Prior to joining Zealand Pharma A/S, David was Chief Operating Officer at Vital Sensors of Hannover, Germany and Richmond, VA.
Dr Solomon succeeds Dr Anker Lundemose, who has served as CEO for Bionor Pharma ASA since March 2013. Dr Lundemose will leave the company to assume the position as CEO in a privately held UK based oncology biotech company.
"I also want to thank Dr Anker Lundemose for his dedicated service as CEO of Bionor Pharma. Under his leadership, the development of Bionor Pharma's leading therapeutic vaccine Vacc-4x has placed the Company in the forefront of the search for a functional cure for HIV. Dr Lundemose has effectively guided the strategy of Bionor Pharma, strengthened the intellectual property portfolio, and guided high quality clinical studies of Vacc-4x. We wish him the best of luck in his next endeavors and are pleased that he will contribute to a smooth transition these next weeks together with Dr Solomon." said Chairman Lars Høie.
As Dr Solomon is a US/Canadian citizen his appointment as CEO requires a waiver from the Norwegian Ministry of Trade from the Norwegian Public Limited Liability Act section 6-11. The Company expects to receive the waiver within end of February 2015. Until the waiver is received, Dr Solomon will be under temporary employment for the Company.
Bionor Pharma ASA
Chairman Lars Høie Tel: +47 95 03 99 15 (currently travelling and is on US West Coast time)
Deputy Chairman Øystein Soug Tel: +47 90 65 65 25
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
About Bionor Pharma ASA
Bionor Pharma is a biotechnology company, searching for breakthrough treatments for HIV and other serious viral diseases. The Company is listed on the Oslo Stock Exchange (OSE:BIONOR). The Company's focus is the research and development of peptide based vaccines against viral diseases, primarily HIV. The vaccines are based on a proprietary technology platform developed following more than two decades of research into peptides, and they are designed to safely stimulate the immune system to combat viral diseases.
More information about Bionor Pharma is available at www.bionorpharma.com.
Source: Bionor Pharma ASA