Karo Bio strengthens its organization
KARO BIO STRENGTHENS ITS ORGANIZATION Karo Bio is delighted to announce that the company further strengthens its organization with three recent key recruitments. Mats Johnson has been recruited as Vice President of Marketing and Business Development. Mats Johnson joins Karo Bio from Amersham Pharmacia Biotech, where he was Vice President of the Proteomics business area. Mats Johnson replaces Mårten Österlund, who is leaving the company as of November 2 to pursue other opportunities. Mats starts his position with the company October 15. Berit Edlund will fill a newly created position as Director of Human Resources. Berit Edlund's previous experience includes positions at Pharmacia Corporation, Skandia and Ericsson. She will join Karo Bio on 24, October 2001. Mats Johnson and Berit Edlund will be members of the Karo Bio Management Group and will be reporting to Björn Nilsson, President and Chief Executive Officer. Anders Berkenstam has been recruited as Director of Research, Sweden. Anders Berkenstam is currently the Managing Director and Head of Research for genomics company Gemini AB, Sweden. In his earlier research at Karolinska Institutet, Novum, Anders Berkenstam focused on nuclear receptors and their role in the regulation of cellular functions. Anders Berkenstam has also worked for Pharmacia Corporation in its research laboratories in Stockholm. To strengthen the Company's pipeline of innovative concepts and new projects Karo Bio has appointed Stefan Nilsson, one of the Company's leading scientists, to the position of Director of Exploratory Research. Anders Berkenstam and Stefan Nilsson will report to Dana Fowlkes, Chief Scientific Officer. "I believe these individuals will make excellent additions to the Karo Bio team," said Björn Nilsson, President and CEO. "They will all contribute significantly to the company's continued growth and development." For further information contact: Björn Nilsson, President & CEO Direct telephone: +46-8-608-6020 Background Karo Bio has operations in Sweden and the United States. The Company employs 130 people. Karo Bio is listed on the Stockholm stock exchange (Reuters: KARO.ST) since 1998 and maintains a leading position in the field of drug discovery focused on nuclear receptors. Nuclear receptors are validated drug targets for a number of clinical indications and the Company uses proprietary technologies for the development of novel and improved therapies for major markets. Karo Bio has 340 patent cases including 122 granted patents. Karo Bio has drug discovery programs in several therapeutic areas including men and women's health care, metabolic disorders such as obesity, cardiovascular disease, diabetes, dermatology and ophthalmology. Karo Bio collaborates with major pharmaceutical companies for development of products and marketing. In these partnerships Karo Bio receives upfront payments, R&D funding, milestone payments as well as royalties on net sales when products reach the market. Karo Bio has strategic pharmaceutical drug discovery partnerships with Abbott Laboratories, American Home Products, Bristol-Myers Squibb, Merck & Co., and Aventis. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/10/15/20011015BIT00040/bit0001.doc http://www.waymaker.net/bitonline/2001/10/15/20011015BIT00040/bit0001.pdf