KARO BIO’S CEO, FREDRIK LINDGREN, LEAVES
Stockholm, May 23, 2011 – Karo Bio AB (publ) communicates today that Fredrik Lindgren will leave his position as CEO of the company. A new CEO will be appointed by the board at the board meeting on May 24, 2011.
Today Fredrik Lindgren woll leave his position as CEO of th company with immediate effect. The applicable notice period is six months.
The board is expected to appoint a new CEO at the ordinary board meeting on May 24, 2011.
“After discussions, conditions for continued co-operation are too limited, which the board regrets”, says Göran Wessman, chairman of the board of Karo Bio AB.
For more information please contact
Göran Wessman, chairman of the board of Karo Bio; mobile +46 708 16 14 50.
About Karo Bio
Karo Bio is a pharmaceutical company focused on the research and development of innovative drugs for unmet medical needs. Karo Bio’s vision is to become a pharmaceutical company with sustainable profitability, commercial products and a competitive project portfolio.
Karo Bio runs a number of development projects within the indication areas cardiovascular and metabolic diseases, neuropsychiatry, inflammatory conditions, autoimmune diseases, cancer and women’s health. An important foundation for the company’s activities is its unique knowledge of nuclear receptors as target proteins for the development of novel pharmaceuticals, as well as related mechanisms of action. Important processes and competencies within the company include structurally based research, drug discovery, preclinical and clinical development, and medical and regulatory expertise.
Karo Bio has the capacity to process select compounds for niche indications through the whole development chain, while compounds addressing large patient groups require development collaborations or out-licensing at some stage in the process. In addition to proprietary projects, Karo Bio has three strategic collaborations with international pharmaceutical companies.
Karo Bio, headquartered in Huddinge, has 70 employees, and is listed on NASDAQ OMX Stockholm since 1998 (Reuters: KARO.ST).
Karo Bio publishes this information in accordance with the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was published on May 23, 2011, at 11:45 CET.