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Nominations for Annual General Meeting of Bionor Pharma ASA 11 May 2012

Oslo 04.05.2012 - Bionor Pharma ASA announced today the Nomination Committee`s recommended candidates for the Board of Directors and the Nomination Committee at the Company`s Ordinary General Meeting 11 May.

Bionor Pharma is entering an important phase with an extensive clinical program leading towards phase III, partnering process and commercialization of existing products. The Nomination Committee believes that the Board of Directors will be significantly strengthened by the below nominations  with international clinical, regulatory and commercial experience, as part of the preparations for a partnering process ahead, and recommends on this basis the shareholders to approve the recommendations.

The following candidates, elected to the Board by the Extraordinary General Meeting 25 July 2011 are not up for election:
- Lars H. Høie (Chairman)
- Marianne Furru (board member)
- Bjørn Fuglaas (board member)
The other board members are proposed substituted as follows:

The Nomination Committee`s recommendations for the Board of Directors:

Steen Krøyer (nominated as Deputy Chairman after a new CEO has taken his position, see more information below)

Jerome (“Jerry”) Zeldis , MD (board member, ref. release 11 April 2012, see more information below)

Benedicte Fossum  (board member, see more information below)

It should be noted that Bjørn Fuglaas leaves the position when Steen Krøyer eventually takes position at the Board, after the new CEO is in place.


Based on the above nominations, the new Board until Steen Krøyer's entry will consist of:
- Lars H. Høie (Chairman)
- Bjorn Fuglaas (board member)
- Jerome Zeldis (board member)
- Benedicte Fossum (board member)
- Marianne Furru (board member)

Based on the above nominations, the new Board after Steen Krøyer's entry will consist of:
- Lars H. Høie (Chairman)
- Steen Krøyer (Deputy Chairman)
- Jerome Zeldis (board member)
- Benedicte Fossum (board member)
- Marianne Furru (board member)

The Nomination Committee`s recommendations for the Nomination Committee:
Leader of the nomination committee:

Ivar Sigurd Eide (re nominated in the committee, as new leader)

Members of the nomination committee:

Birger Sørensen (new, see more information below)

Lars Helmer Enger (re nominated)

More information about the new members nominated:

Steen Krøyer: CEO at Bionor Pharma since 09/2011, nominated to be part of the BoD from the moment a new CEO has taken over his position. Krøyer has 35 years of experience in the pharmaceutical industry. Through leadership positions in large companies such as Astra Zeneca and Astra, Chairman of smaller companies and experience of business management in China and Asia, and  last year`s  experience as CEO of Bionor Pharma, Steen Krøyer is considered to be well suited as member of the Board of Directors as soon as his successor is in place. This nomination is also according to the announcement in the release about Steen Krøyer as new CEO, 5 September 2011.

Jerome Zeldis: Dr. Zeldis is CEO of Celgene Global Health and Chief Medical Officer of Celgene Corporation, based in Summit, New Jersey. Dr. Zeldis is an experienced global industry leader with a distinguished career at one of the world’s leading biopharmaceutical companies with operations in more than 50 countries and products sold in more than 70 markets in the Americas, Europe, and Asia Pacific regions.

Benedicte Fossum: B.Sc. Veterinary Medicine, one of the founders of Pharmaq AS, the global leader in pharmaceuticals for aquaculture. Until January 2010, Ms. Fossum was Director of Strategic Development, Legal Affairs and M&A within Pharmaq AS. Professional experience  from  Alpharma Inc. (Regulatory Manager) and the Norwegian Medicines Agency (Statens Legemiddelverk). Currently, Benedicte Fossum is Director of the board of Navamedic ASA, Codfarmers ASA, ProBio ASA, Probi AB, Smartfish AS, Foinco AS and Altaria AS.

Birger Sørensen: EVP, Head of Vaccines, and Founder of the vaccine technology of Bionor Pharma, is trained as physical chemist (M.Sc./Cand real) with mathematics and biology as supporting subjects. Birger Sørensen is a major shareholder in the company.
With regards to the suggested composition of the Nomination Committee, the Company considers that an election of Birger Sørensen to the Nomination Committee will not affect the Committee's impartiality and independence of the Board and other senior employees.

The company considers it beneficial for the Committee to utilize the knowledge Sørensen has of the company, as one of the founders, as well as his network of contacts in the industry.
The Nomination Committee's composition should reflect the interests of the shareholders. Since Birger Sørensen is a large shareholder, also this aspect is taken care of by any choice of him to the committee.

About Bionor Pharma ASA
Bionor Pharma is a biopharmaceutical, listed company based in Oslo, Norway. The Company's investments in developing therapeutic vaccines exceed US$70 million. Bionor's vaccines are based on the proprietary technology platform developed following more than two decades of research on peptides. The vaccines are designed to safely activate each person's immune system to combat viral diseases.
The Company's lead investigational product, the HIV therapeutic vaccine Vacc-4x, has in a completed phase IIb multinational (USA, Germany, UK, Spain and Italy), placebo controlled, double-blind study, shown a statistically significant reduction in viral load by killing virus producing cells.

Bionor researchers believe that the 64 % reduction in viral load in patients who received Vacc-4x in the phase IIb study  is a long-lasting viral control as a result of the patient’s immune system`s new ability to kill virus producing cells, in contrast to the viral reduction obtained with daily conventional medicine (antiretroviral therapy, ART).   Research shows that treatment with ART is putting the virus producing cells into a resting state, from which they can “wake up” even more than a decade later, and again start producing virus within few weeks if patients go off ART.  Because most patients who are given ART are known to stop taking it for various reasons (cost, access and side effects), Bionor believes Vacc-4x could be a vital treatment option that can stabilize patients even when they stop taking ART.

Bionor`s second HIV therapeutic vaccine, Vacc-C5 is planned to be ready for first in man clinical trial 2Q 2012, and is developed to induce antibodies to HIV that can reduce immune hyper activation associated with HIV infection.
Subsequent to the Vacc-C5 phase I/II trial, Bionor intends to combine Vacc-4x with Vacc-C5, which could form the basis for both a therapeutic and a preventative vaccine.

Pathways to market for HIV vaccines
Bionor researchers will investigate various independent pathways to market for the HIV vaccine candidates Vacc-4x and Vacc-C5, through further clinical studies starting this year:

1. Vacc-4x revaccination in patients who participated in the phase IIb study, which aims to further reduce the viral load by killing of virus producing cells, during periods where patients are not on ART.

2. Vacc-4x combined with Revlimid® (lenalidomide), in patients with a weakened immune system which does not improve despite well controlled viral load by treatment with ART.

3. Vacc-C5 clinical trial phase I/II, to document whether Vacc-C5 increases HIV antibodies, subsequent Vacc-C5 in combination with Vacc-4x, which potentially can revolutionize HIV treatment.

A nasal administration placebo controlled study of Vacc-4x has been completed, and will be announced during first half of May 2012.

Vaccines for other viral diseases
The Company's innovative technology platform is also well suited to develop vaccines for other viral diseases, such as Influenza, HCV (Hepatitis C), HPV (Human Papilloma Virus) and CMV (Cytomegalovirus). 

All preclinical trials with Vacc-Flu (Universal Influenza vaccine) and Vacc-HCV (Hepatitis C vaccine), including toxicology are planned to be finalized second half 2012, thereby being ready to enter human clinical studies.

More information about Bionor Pharma, its research and products, is available at www.bionorpharma.com.

 

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act).  Vacc-4x is an investigational treatment that has not been approved for marketing by any regulatory authority.
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Bionor Pharma ASA, Oslo: +47 23 01 09 60/ Bionor Pharma Laboratories: +47 35 90 85 00
Lars H. Høie, MD, PhD (dr. philos.), Chairman of the Board