SOURCE: Nutri Pharma
May 10, 2010 12:17 ET
Nutri Pharma ASA Adds New CFO to Commercialize Bionor Immuno Pipeline
OSLO, NORWAY and WASHINGTON, DC--(Marketwire - May 10, 2010) - Mr. Rolf Henning Lem has been appointed new CFO of Nutri Pharma ASA (OSLO: NUT). As part of his duties as CFO, Mr. Henning will actively participate in the commercializing Bionor Immuno's technological platform towards international pharmaceutical companies. His experience with Bionor Immuno, which was acquired by Nutri Pharma earlier this year, makes him especially suited for this task. Mr. Henning will assume his responsibilities June 1.
Since 1999, Rolf Henning Lem has worked in the Corporate Finance division of Fondsfinans, and has in that capacity acted as financial advisor in a number of transactions. He has previously been an employee of Dyno Industrier for 6 years, where he held the position of Vice President Finance Company Secretary. He also has several years of consulting experience (Nexia og Deloitte Haskins & Sells Management Consultants).
"I have known Bionor Immuno for many years through my position at Fondsfinans. I know the Company's management as capable and ambitious," said Rolf Henning Lem. "What fueled my beliefs that Bionor could be the first company to successfully launch an HIV vaccine were the striking clinical results from the Phase IIa study at Ullevål Hospital. The results of this study demonstrated that patients, following inoculation, were capable of staying off traditional treatment for prolonged periods of time. I have also worked as an advisor to Nutri Pharma ASA and know their business well and I look forward to working at expanding the international market potential of Nutrilett and Nutri5."
The Phase IIA study demonstrated that volunteers could stay off of antiretrovirals for a period of 31 months, compared to the three to five months a patient normally can stay off treatment.
"We have a fantastic resource in Rolf Henning Lem," said Trond Syvertsen, CEO Nutri Pharma ASA. "At the same time we would like to thank Lars Helmer Enger for his considerable contribution as CFO of Nutri Pharma ASA from 2007-2010."
About Nutri Pharma and Bionor Immuno
Nutri Pharma is one of the world leaders in soy technology for treatment and prevention of diseases. It has developed a number of unique patented products that are documented by extensive clinical trials, well proven in the Nordic market. The Company recently acquired Bionor Immuno, an innovative biotech company developing synthetic peptide vaccines that stimulate cell-mediated immunity. Previous efforts made to use T-cell stimulation for vaccines have been notoriously unsuccessful and this is the reason they are not on the market today. Bionor Immuno carefully designs synthetic (modified) peptides with improved efficacy and safety profiles. Among the diseases targeted are chronic infections such as HIV, Hepatitis C (HCV), Human Papilloma Virus (HPV) and Influenza. Bionor Immuno's platform technology is broadly applicable and makes it possible to extend the range of projects to include vaccines targeting cancer.