Blue Cell Therapeutics appoints highly experienced pharma and biotech executive Olav Hellebø as Chairman of the Board of Directors

• Seasoned executive with three decades of experience in pharma and biotech
• Biotech board experience from Cytovation ASA, Antev Ltd, and Calliditas Therapeutics, and governance / senior leadership experience from UCB, Novartis and Schering-Plough (now Merck)
• Appointment comes as Blue Cell looks to progress its lead candidate, allogeneic stem cell treatment BlueC-231, into Phase 1/2a clinical trials for the treatment of severe erectile dysfunction (ED) following prostate cancer surgery

COPENHAGEN, Denmark, Sept. 4, 2025 /PRNewswire/ -- Blue Cell Therapeutics, a biotech developing "off-the-shelf" allogeneic stem cell therapies for diseases where angiogenesis and nerve regeneration are beneficial, today announces the appointment of Olav Hellebø as Chairman of its Board of Directors.

Olav Hellebø is a seasoned executive who has worked for over 30 years in pharmaceutical companies and biotechs. He has significant fundraising experience, having raised more than $200m during his career, while he has also struck licensing deals and research collaborations with major companies including AstraZeneca, Takeda, Fosun, and Alnylam.

Dr Søren P. Sheikh MD, PhD, Chief Executive Officer of Blue Cell Therapeutics, said: "Olav brings a wealth of knowledge and experience that will be instrumental to Blue Cell Therapeutics as we advance. His proven leadership across diverse teams and strategic planning expertise in multiple markets will be a huge asset. We look forward to working closely with Olav and the Board as we advance our lead candidate, BlueC-231, for severe erectile dysfunction into Phase 1/2a clinical trials."

Olav Hellebø, newly appointed Chairman of Blue Cell Therapeutics, said: "I'm delighted to have joined Blue Cell Therapeutics, which has developed an elegant way of creating a scalable, off-the-shelf stem cell therapy for severe erectile dysfunction. With around half of the 500,000 men who undergo prostate cancer surgery in North America and Europe annually still suffering severe ED a year after their operations, and current drugs providing little benefit to them, the unmet need is vast. The commercial case for BlueC-231 is strong, as ED caused by surgery would clearly be reimbursable by health insurers. Blue Cell's allogeneic stem cell approach also holds great promise in other indications such as pulmonary arterial hypertension (PAH).  I look forward to working with Søren and his first class team as the Company continues to progress."

Olav has extensive executive and advisory experience. He currently serves as Chief Executive Officer of BerGenBio ASA, a clinical-stage biopharmaceutical company developing drugs for aggressive diseases. From 2014 to 2022 he was Chief Executive Officer of ReNeuron Group PLC, a clinical-stage company specialising in cell therapy for ophthalmic and neurology-related diseases; and from 2010 to 2013 he headed oncology-focused biotech Clavis Pharma ASA.

He currently serves on the boards of clinical stage immuno-oncology company Cytovation ASA, and clinical stage biopharmaceutical company, Antev Ltd, which specialises in urology and oncology treatments. From 2014 to 2019 he served on the board of Calliditas Therapeutics AB, which was sold last year to Asahi Kasei for $1.1 billion.

Olav has also held senior governance and leadership positions at UCB-Celltech, Novartis, and Schering-Plough. He holds a Master of Business Administration from IESE Business School.

Mr Hellebø joins Blue Cell Therapeutics' Board of Directors as Chairman with immediate effect.

About Blue Cell Therapeutics
Blue Cell Therapeutics is a biotech developing long lasting allogeneic "off-the-shelf" human mesenchymal stem cell (MSC) therapies for diseases where angiogenesis and nerve regeneration are beneficial, such as erectile dysfunction (ED) and pulmonary arterial hypertension (PAH).

Our method enables the production of a consistent, pure and potent allogeneic cell product and, thanks to a high proliferation rate, we can create more than 70,000 treatments from cells taken from a single donor.

Blue Cell's lead product, BlueC-231, is in development for the treatment of severe Erectile Dysfunction (ED). The Company is initially focusing it on the treatment of severe ED following radical prostatectomy, where we expect it will be much more effective than currently available treatments because it addresses the root causes of the problem: poor blood flow and nerve damage. BlueC-231 offers a scalable, safe and potentially curative solution for this distressing condition – restoring erectile function for extended periods and spontaneity to sexual encounters.

An early proof-of-concept study with a single dose of autologous adipose MSCs has shown that 8 of the 11 men (72%) who had undergone prostatectomy and were continent but had had no erectile function for over a year, regained their ability to have an erection and perform sexually at six months. Subsequently, Blue Cell chose to take an allogeneic approach, which offers the potential for greater consistency and potency, plus easier manufacturability and reduced cost.

Preclinical in vitro and in vivo data for BlueC-231 has shown angiogenesis and endothelial cell and nerve cell regrowth superior to autologous cells, giving confidence for proposed phase 1/2a studies.

Some 490,000 men in the western world undergo major prostate cancer surgery each year, with most continuing to suffer severe ED a year after surgery. In terms of ED overall, it is estimated that 85 million men suffer from ED globally with 30% not responding to drug therapy.