Industry Specialist Steen Krøyer is the new CEO

Oslo, 05.09.2011 - Steen Krøyer appointed as interim CEO of Bionor Pharma ASA

Steen Krøyer has been appointed as interim CEO of Bionor Pharma until a permanent solution is established at which time Krøyer will most likely be a part of the board of Bionor Pharma. Krøyer is a very experienced business man. He has both commercial and industrial experience in the pharmaceutical industry. Now, he will lead the company to develop commercial vaccines to fight viruses, including HIV and Hepatitis C.

Krøyer replaces Henrik Lund, who resigned on August 15(th).

Krøyer has 35 years experience in the pharmaceutical industry. He knows the pharmaceutical companies' challenges and the expectations of owners and financial institutions. Through leadership positions in large companies such as AstraZeneca, Astra, and chairman positions of smaller companies as well as his experience in business management in China and Asia, the new Bionor Pharma boss is very well qualified.

Bionor Pharma has its strength in a single technological platform with multiple patents, which forms a common basis for the vaccine products that are specifically directed against viral diseases.

"Bionor Pharma has a product portfolio where the studies are completed making all staff very optimistic. Medical development is costly and takes time, but the company has a technology platform with multiple commercial products, which have shown promising results. Partnerships come, and it is this work that I will lead", says Krøyer. "It is a pleasure to lead the work of the research team in Bionor Pharma, which our partners and I consider to be an international leader in its field.

"There are two major unresolved issues in the medical world: how to fight viruses; and, cancer. The technological platform that Bionor Pharma has developed includes both, and we are, in the first instance, focusing our strengths on viral diseases including HIV and Hepatitis C. Products in this area are greatly needed and there is a significant corresponding market, but the important testing remains.

Chairman Lars Høie is very pleased that Krøyer has agreed to lead Bionor Pharma entering into the commercial phase. "The broad expertise and international network Krøyer has from the pharmaceutical industry will be a very important resource for a company of our size. His network, especially among potential partners, has great significance. We, who work in Bionor Pharma, are proud of this development and look forward to this new relationship", says Lars Høie.

For more information, contact:
Lars Høie, Chairman, tel.: +47 95 03 99 15 / +33 63 16 57 480
Steen Krøyer, Managing Director, tel.: +47 23 01 09 60