OSLO, 25 June, 2018 /PRNewswire/ --
Nordic Nanovector ASA (OSE: NANO) announces that Eduardo Bravo has been appointed as its Chief Executive Officer.
Mr. Bravo brings more than 25 years' experience in the biopharmaceutical industry and a strong track record in leading and growing international biotech and pharmaceutical organisations. Since 2011, as CEO of TiGenix, a dual-listed (Euronext Brussels and NASDAQ) biopharmaceutical company developing novel stem cell therapies, he successfully developed the company through several financing rounds, led its IPO on NASDAQ, and secured European marketing approval of its lead asset. In January 2018, Takeda Pharmaceutical Co. Ltd announced it was acquiring TiGenix for €520 million.
Prior to joining TiGenix' predecessor, Cellerix, in 2005, Mr Bravo held several senior management positions at Sanofi-Aventis and SmithKline Beecham. He is currently Chairman of Vivet Therapeutics. He holds a degree in Business Administration and an MBA (INSEAD).
Mr Bravo will take up the CEO position in Nordic Nanovector on 2 July and will be based in London, UK.
Ludvik Sandnes, Chairman of Nordic Nanovector's Board of Directors, said: "I am very pleased that we have attracted someone of Eduardo's calibre to become the CEO of Nordic Nanovector. He has extensive experience in corporate and product development, which is central to Nordic Nanovector's future success, and will provide excellent leadership under which the Company can continue to realise its significant potential with Betalutin®. I would also like to thank Tone Kvåle for supporting the company as Interim CEO over the past few months."
Eduardo Bravo added: "I am looking forward to this exciting new role as the CEO of Nordic Nanovector. It is clear that the Company has an exciting future based on the significant potential of Betalutin® in follicular lymphoma and NHL more broadly. I am joining an excellent board and management team and am confident that with my complementary experience and networks, we can succeed with Betalutin® to provide physicians with another treatment option to improve the lives of patients who are in dire need of effective therapies to control their disease and build significant value in the company."
On joining Nordic Nanovector, Mr Bravo will be granted 250,000 PSUs (performance share units) and the company's Board of Directors has undertaken to grant him a further 50,000 PSUs as part of the company's annual grant of PSUs in the first quarter of 2019. For further information about the PSUs and the related warrants, see pages 66-68 in the company's annual report for 2017. In addition, on joining Nordic Nanovector, Mr Bravo will receive a sign-on bonus of EUR 50,000 and has undertaken to invest, at minimum, the net amount after tax in Nordic Nanovector shares and will do so following this announcement.
For further information, please contact:
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About Nordic Nanovector
Nordic Nanovector is committed to develop and deliver innovative therapies to patients to address major unmet medical needs and advance cancer care. The Company aspires to become a leader in the development of targeted therapies for haematological cancers. Nordic Nanovector's lead clinical-stage candidate is Betalutin®, a novel CD37-targeting antibody-radionuclide-conjugate designed to advance the treatment of non-Hodgkin's lymphoma (NHL). NHL is an indication with substantial unmet medical need, representing a growing market forecast to be worth nearly USD 20 billion by 2024. Nordic Nanovector intends to retain marketing rights and to actively participate in the commercialisation of Betalutin® in core markets. Further information can be found at www.nordicnanovector.com
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SOURCE Nordic Nanovector