Press release from Companies
Published: 2017-08-25 08:15:00
WntResearch announces today that its CEO, Henrik Lawaetz, has decided to leave his position. Ulf Björklund, Board Director of WntResearch, has been appointed acting CEO, and a recruitment process will be initiated to find a permanent successor. Henrik Lawaetz leaves his position immediately, but will remain available to support the company during his notice period.
Ulf Björklund, M.Sc. in Pharmacy, has over 30 years of experience in the development and commercialization of pharmaceuticals. Prior engagements include CEO of Aprea AB and CEO of OxyPharma. He is Chairman of the Board of Lipum AB and Board Director of WntResearch AB, Annexin Pharmaceuticals AB and Tikomed AB.
"After the implementation of the successful Phase 1b study with Foxy-5, Henrik Lawaetz has decided to leave his position as CEO. He has made considerable contributions to the company's development and I wish him all the best in the future. It is gratifying that Ulf Björklund has accepted the role of acting CEO. With Ulf's solid management and drug development experience, we can continue our preparations for the upcoming phase 2 trial with Foxy-5, as well as the development of our preclinical project Box-5," without delays or distractions," says Peter Ström, Chairman of the Board of WntResearch.
In order to further reinforce the company's management resources, Professor Tommy Andersson has agreed to increase his involvement in the company in his role as Chief Scientific Officer. In addition, Professor Nils Brünner, Board member and former CEO of WntResearch, will provide consultancy services to the company during the planning and initiation of the Phase 2 study.
"The convincing results from the recently completed Phase 1b study of Foxy-5, and the successful upscaling of the manufacturing process, provide a solid platform for the continued development of the drug candidate. I look forward to temporarily taking over the leadership of WntResearch, and I am grateful for the support I will receive from Tommy Andersson, Nils Brünner and other colleagues," says Ulf Björklund, acting CEO, WntResearch.
For further information, please contact:
Peter Ström, Chairman of the Board, WntResearch AB
Telephone: +46 73 715 35 87
This information is information that WntResearch AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on August 25, 2017.
WntResearch is developing a new type of cancer treatment based on pioneering research, which shows that the endogenous protein Wnt-5a plays a crucial role for tumour cells' ability to relocate and spread in the body. Most patients that die of cancer do so not due to the primary tumour, but due to metastases. The need for a specific treatment to counteract metastasis is therefore in high demand.
WntResearch's most advanced drug candidate Foxy-5 has in preclinical tests been shown to reduce tumour cells' mobility and thereby counteract the occurrence of metastases. The results from a completed phase 1 study show a favourable safety and pharmacokinetic profile, as well as early indications of biological activity. A phase 1b study is currently ongoing in patients with cancer of the colon, prostate and breast. WntResearch is a public company listed at AktieTorget in Stockholm, Sweden.
For further information: www.wntresearch.com