22 August 2021
BerGenBio ASA: BERGENBIO ASA: LEADERSHIP CHANGE
Bergen, Norway, 22 August 2021 – BerGenBio ASA (OSE:BGBIO), a clinical-stage biopharmaceutical company developing novel, selective AXL inhibitors for severe unmet medical need, announces the appointment of Martin Olin as new Chief Executive Officer from 8 September 2021.
Following twelve years as CEO of BerGenBio, Richard Godfrey has decided to step down as CEO of the Company with immediate effect to pursue other business interests. Rune Skeie, Chief Financial Officer of BerGenBio, will assume the role of interim CEO until 8 September 2021.
Mr Olin brings more than 20 years of executive experience in the pharmaceutical and biotechnology industry to BerGenBio. He previously served as CEO of Symphogen, a biotechnology company focused on the development of protein drugs based on recombinant monoclonal antibody mixtures, acquired by Servier in 2020.
Before joining Symphogen in 2012, Mr. Olin was a senior partner with SLS Invest, a Scandinavian based healthcare focused private equity fund. Previously, he held managerial positions in Novo Nordisk including Finance Director, EMEA. Most recently he has served as Managing Partner of Nordic Eye, a Copenhagen based Venture Capital firm.
Sveinung Hole, Chairman of BerGenBio, commented: “Martin brings vast experience as a leader in the life sciences industry with a proven track record of success. BerGenBio has reached a critical phase, with its lead candidate bemcentinib demonstrating promising data and progress in Lung cancer, Leukemia and potentially COVID-19. The Board agrees that Martin is ideally qualified to lead BerGenBio into the next phase of its development.
I would like to thank Richard both personally and on behalf of the BerGenBio team for his dedicated work to the Company over the past twelve years. Richard has played a pivotal role in establishing BerGenBio as a clinical stage company and has guided the Company throughout the challenging backdrop of the global COVID-19 pandemic. We wish him every success in the future.”
Martin Olin, Chief Executive Officer of BerGenBio commented, “BerGenBio has pioneered the understanding of AXL biology and the potential of AXL inhibition as a cornerstone therapy for the treatment of serious diseases. I am very excited to join the Company and look forward to working with the board and team to continue the progression of our lead candidate bemcentinib, as well as the pipeline of drug candidates, through further clinical development and ultimately to the patients we believe will benefit from them.”
Richard Godfrey said: “I have thoroughly enjoyed my past twelve years at BerGenBio and will keenly watch the progress with bemcentinib as it progresses through the exciting next steps. Now is a natural time for me to hand over to Martin. I wish the Board and whole team every success for the future.”
-Ends-
Contacts
Sveinung Hole, Chair, BerGenBio ASA
ir@bergenbio.com
Rune Skeie, Interim CEO and CFO, BerGenBio ASA
rune.skeie@bergenbio.com
International Media Relations
Mary-Jane Elliott, Chris Welsh, Lucy Featherstone, Carina Jurs
Consilium Strategic Communications
bergenbio@consilium-comms.com
+44 20 3709 5700
About BerGenBio ASA
BerGenBio is a clinical-stage biopharmaceutical company focused on developing transformative drugs targeting AXL as a potential cornerstone of therapy for aggressive diseases, including immune-evasive, therapy resistant cancers. The company’s proprietary lead candidate, bemcentinib, is a potentially first-in-class selective AXL inhibitor in a broad phase II clinical development programme focused on combination and single agent therapy in cancer, leukaemia and COVID-19. A first-in-class functional blocking anti-AXL antibody, tilvestamab, is undergoing phase I clinical testing. In parallel, BerGenBio is developing a companion diagnostic test to identify patient populations most likely to benefit from AXL inhibition: this is expected to facilitate more efficient registration trials supporting a precision medicine-based commercialisation strategy.
BerGenBio is based in Bergen, Norway with a subsidiary in Oxford, UK. The company is listed on the Oslo Stock Exchange (ticker: BGBIO). For more information, visit www.bergenbio.com
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
About Oncoinvent
Oncoinvent is developing Radspherin®, a receptor-independent alpha radiation therapy that leverages the unique anatomy of the abdominal cavity to destroy residual micrometastases using a single, highly localized dose of alpha radiation. The initial clinical focus is treatment of ovarian and colorectal cancer patients after surgical removal of the primary tumor and visible metastases in the peritoneum, the thin membrane lining the abdominal cavity and covering the abdominal organs.
This radiopharmaceutical is designed to prevent or delay recurrence in the peritoneal cavity, keeping patients disease-free for longer than the current standard of care and thereby also impacting overall survival. It is broadly applicable to any cancer that spreads to the peritoneum, e.g. ovarian, colorectal, and gastric cancers. Radspherin® stands out for its simplicity, excellent safety profile, and seamless integration into existing surgical workflows. Oncoinvent’s product is easy to use, avoids systemic delivery and significant toxicity. It is also differentiated in being simple to manufacture, scalable, and supply de-risked.
Data from two trials in ovarian (phase 1) and colorectal (phase 1/2a) cancers, are highly promising, showing an excellent safety profile and meaningful signals of efficacy. Interim data from an ongoing, randomized, controlled phase 2 ovarian cancer trial is expected in 2026. With cost-effective manufacturing, blockbuster potential, active pharma partnership momentum, plus strong endorsements from leading experts, Oncoinvent is built for scale and commercial success, and is set to become the new standard for post-surgical cancer care. The Company was founded by the originators of Algeta and Xofigo (acquired by Bayer).
