STOCKHOLM, May 20, 2020 /PRNewswire/ -- Cyxone (publ), a Swedish biotech in autoimmune diseases, announces today that Tara Heitner PhD MBA has been appointed new CEO for the company by Board of Directors.

Dr Heitner brings extensive experience to Cyxone from her previous senior management and board positions in the pharma and biotech areas. Her strong communication and negotiation skills in combination with her scientific and business development background ensures the leadership needed to take Cyxone into the next phases of development. To that, Dr Heitner also brings extensive network connections in the academic, pharmaceutical business and funding areas built from an international career working with companies across North America, Europe and Asia. Dr. Heitner earned her PhD in Chemistry from McGill University in Canada and her MBA from Danish Technical University in Denmark.

Dr Heitner is a Canadian citizen living in Denmark. She will take up her position as CEO for Cyxone on 1 June 2020. Ola Skanung, interim CEO & CFO of Cyxone, will remain in his roles until the new CEO is in place, and will thereafter continue as CFO.

"We are very pleased with the recruitment of Tara Heitner. Her combined experience from both the pharma and biotech industries, and renowned management, communication and negotiation skills, will be of great value for Cyxone. Tara has a strong business acumen and has contributed to significant value creation including fundraising and strategic partnership negotiation in her previous roles. The Board of Directors look forward to continue the development of Cyxone together with Tara," comments Cyxone's chairman Bert Junno.

"Cyxone is a young, ambitious company with tremendous potential. I look forward to joining the company, developing the drug candidates for underserved patients and bringing them closer to the market. Cyxone's pipeline is focused on developing safer and more effective drugs for patients suffering from debilitating autoimmune disease. The autoimmune field has been an area of interest for me where I have worked actively for years. I also look forward to joining a focused team of experienced employees with the skills to position the company for value creation in the coming years and I look forward to leading the company through this journey." says Tara Heitner PhD, incoming CEO of Cyxone.

"With Tara Heitner as CEO, Cyxone is matched with an experienced and skilled leader who has a passion for business and science. In addition to strategic, business development and fundraising skills, Tara has excellent communication skills as exemplified by multiple award winning pitches and presentations. I look forward to working together with Tara when she gets on board and until then I will continue in the role as interim CEO", says Ola Skanung, interim CEO and CFO of Cyxone.

This contains such information that Cyxone AB is required to make public under the EU's Market Abuse Regulation. The information was provided under the auspices of the above contact person for publication on 20 May 2020 at 08.45 CET.

About Cyxone

Cyxone AB is a clinical stage biotech company with a portfolio of immunomodulating drugs for the treatment of autoimmune diseases such as multiple sclerosis (MS) and rheumatoid arthritis (RA). The company's drug portfolio is based on two technological pillars in the form of oral molecules and cyclotide-based drugs that inhibit key processes in the body's cells that are typically associated with various immune-related disorders. Cyxone's technologies have the potential to address an unmet need and provide new effective and safe medicines that can improve the quality of life for patients affected by autoimmune diseases. The company has two drug candidates, T20K for MS in clinical phase I program and Rabeximod for RA in clinical phase II program. Cyxone's Certified Adviser on the Nasdaq First North Growth Market is Mangold Fondkommission AB, +46 (0)8-503 015 50, ca@mangold.se. www.cyxone.com

Contact:
Ola Skanung, interim CEO & CFO
Tel: +46 (0) 705 121 040
Email: ola.skanung@cyxone.com 
Adelgatan 21
211 22 Malmö, Sweden
www.cyxone.com

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SOURCE Cyxone