Stockholm, 2017-06-16 08:00 CEST (GLOBE NEWSWIRE) --
PledPharma announces that Nicklas Westerholm today assumed the position as the company's CEO. Nicklas Westerholm comes from AstraZeneca, where he held several leading global positions in research and development, finance and manufacturing. In connection with his start, Nicklas Westerholm has acquired 500,000 warrants in PledPharma.
My initial priority is to ensure the optimal final design of the clinical development program for PledOx®, and to further strengthen PledPharma's organization prior execution of the remaining clinical trials. I also look forward to contributing to the continued development of Aladote®, a potential drug for preventing liver damage associated with acetaminophen poisoning," said Nicklas Westerholm, CEO, PledPharma AB.
PledOx® is the first drug candidate that in a controlled clinical trial has shown that it may be possible to prevent chemotherapy induced nerve damage (CIPN) in a clinically significant manner and without negatively effecting the cancer treatment. A proof of principle study with Aladote® was initiated in spring 2017 in collaboration with the University of Edinburgh.
“With a wholly-owned late stage pharmaceutical project against side-effects from chemotherapy treatment, and an innovative treatment for paracetamol-induced liver damage in an ongoing proof of principle study, we have good opportunities to meet the significant needs of improved treatments for these severely burdened patient groups in the future. I see this as an excellent platform for creating good value growth for PledPharmas shareholders, "continues Nicklas Westerholm.
Nicklas Westerholm, b. 1976, has since 1995 been working in the AstraZeneca Group in several global roles and different business areas, most recently as Vice President Project & Portfolio Management, Cardiovascular and Metabolic Diseases, Global Medicines Development Unit. Prior positions include roles as Executive Officer and Vice President of Japan Operations, Director Investor Relations, Head of Global API Supply and Head of Development Manufacture. Nicklas Westerholm has studied analytical and organic chemistry at Stockholm University, and Chemical Engineering at KTH Royal Institute of Technology. He has also participated in educational programs at the University of Warwick, INSEAD and Harvard Business School.
In connection with the appointment as CEO, Nicklas Westerholm has signed 500,000 warrants within the framework of the incentive program decided at the company's AGM on April 25, 2017. Payment has been made with SEK 1.29 per warrant. Each warrant jag är entitles the holder to acquire a share in PledPharma during the period 9-30 November 2020 at the price of SEK 26. The fully terms and conditions are available on the company's website http://www.pledpharma.se/
For more information, please contact:
Nicklas Westerholm, CEO, phone: +46 73 354 20 62
nicklas.westerholm@pledpharma.se
Michaela Gertz, CFO, phone: +46 709 26 17 75
Michaela.gertz@pledpharma.se
About PledPharma
PledPharma develops new drugs that protect the body against oxidative stress – a potentially debilitating and sometimes life-threatening condition that can be caused by chemotherapy treatment and following acetaminophen (paracetamol) overdose. The company's most advanced project PledOx® is being developed to reduce nerve damage associated with chemotherapy. A phase IIb study has been conducted and will serve as the basis for the continued development. The drug candidate Aladote® is being developed to reduce the risk of acute liver failure associated with acetaminophen poisoning. PledPharma (STO: PLED) is listed on Nasdaq First North. Erik Penser Bank is the company’s Certified Adviser (tel +46 8 463 80 00). For more information, see www.pledpharma.se
This information is information that PledPharma AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on June 16 2017.
