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AlgiPharma registers new company in Australia

AlgiPharma has registered a new proprietary limited company in Melbourne, Australia:

AlgiPharma Australia Pty Ltd

AlgiPharma is moving ahead with its clinical program and preparations for a new phase 2b clinical trial with its drug candidate OligoG. Australia will be a key part of this pivotal study. The AlgiPharma team recognizes the value in establishing a strong presence in Australia to help bring its lead drug candidate, OligoG, to the market for the treatment of patients suffering with Cystic Fibrosis.

About Cystic Fibrosis:

Cystic fibrosis (CF) is a life-threatening disease that affects the lungs and digestive system and impacts about 70,000 people worldwide. CF is caused by mutations in the cystic fibrosis transmembrane conductance regulator (CFTR) gene, which results in either no CFTR protein or an abnormal CFTR protein that does not function properly. The presence or absence of this dysfunctional protein causes the body to accumulate excessive levels of unusually thick mucus in the lungs, which becomes a site for infections that can require hospitalization. Respiratory distress in CF (defined as acute difficulty in breathing, infection and/or hospitalization) is most commonly related to mucus accumulation and lung infections that result in damage to lung tissue.

About AlgiPharma AS:

AlgiPharma AS is a clinical stage pharmaceutical company with headquarters in Norway. It was founded in 2006 on decades of research and development carried out by FMC BioPolymer AS and the Institute of Biotechnology at the Norwegian University of Science and Technology (NTNU) in Trondheim, Norway. AlgiPharma has completed 5 clinical trials with two formulations of its lead drug candidate, OligoG, to treat respiratory symptoms of cystic fibrosis.

AlgiPharma owns or licenses all relevant patents upon which the technology platform and products are developed. The company is supported by national and international research programs, and collaborates with a network of key opinion leaders, highly recognized academic institutions, research and patient organizations in Europe and USA.

AlgiPharma has received more than USD 37 million in research and development grants from EU’s 7th framework program, Horizon 2020, and Eurostars programs, the Norwegian Research Council, Innovate UK, US Army through Congressional Earmark funding, and the Cystic Fibrosis Foundation (CFF). Please see latest award from CFF.

AlgiPharma is a privately owned company registered and domiciled in Norway.

 

For additional information contact:

Yngvar P. Berg, CEO: yngvar.berg@algipharma.com

Arne Dessen, COO and Chairman of the Board: arne.dessen@algipharma.com

 

Philip D. Rye and Astrid Hilde Myrset joins AlgiPharma

R&D Director: Philip D. Rye, PhD

Philip Rye (1962) came to AlgiPharma in 2012. Prior to joining the company Phil was head of Biology R&D at GE Healthcare, Oslo, where he was responsible for team leadership in understanding the pharmacology of novel in vivo imaging agents and interpreting the pathophysiology of cancer, cardiovascular and neurological diseases. Phil brings a wide range of skills and expertise spanning both academic research and commercial in vitro and in vivo diagnostic development. He gained his doctorate at the Department of Pathology at University of Leicester, UK in 1990. His postdoctoral research experience from UK and Norway includes glycoconjugate biochemistry, animal models, cell biology, and biochemistry. Phil also brings more than 11 years of experience in the diagnostics and pharmaceutical industry in both research and management roles and has been involved in the successful development and launch of molecular in vitro diagnostic tests. He is inventor/co-inventor on four patents and has 37 peer reviewed articles in international medical and biochemical journals.

Director for Clinical and Pre-clinical Research: Astrid Hilde Myrset, PhD

Astrid Hilde Myrset (1956) is a biochemist by training, and joined AlgiPharma in 2012. From 2008 – 2012 Astrid was the CEO of Omegatri AS, building a start-up company within the health segment, securing funding from investors in Norway and abroad, as well from Innovation Norway and the Norwegian Research Council. The work led to the successful development of two novel products to the process of scaling up, and involved extensive partnering for regulatory work, scale up and production. From 1994 to 2008 Astrid held various positions in R&D in the pharmaceutical industry (Nycomed – Amersham– GE), most recently global positions where she worked on strategy, innovation and knowledge management including project reviews, across functions, sites and geographies. Prior to this Astrid worked as a project leader, established a molecular biology lab and was involved in a range of projects in preclinical development. Astrid has an extensive network in the academia as well as the life science industry in Norway, is a member of the Board of MedCoast Scandinavia and of the Advisory board of Sintef Materials and Chemistry.

August 2012