NATTO: ENHANCED MANAGEMENT STRUCTURE ALIGNED WITH FOCUSED BUSINESS UNIT STRATEGY
Current NattoPharma CEO appointed to Interim CEO of PharmaCo. Current CFO to take on additional role as Interim CEO of NattoPharma. Additional resources and capabilities are added to NattoPharma sales and supply chain functions.
Oslo, Norway (8th February 2018) - Following the PharmaCo spin-off, Daniel Rosenbaum, current CEO of NattoPharma will be seconded to PharmaCo in order to assure an effective transition and immediate start-up of PharmaCo critical operations. During this period Mr. Rosenbaum will serve as the Interim CEO while the newly formed Board of Directors of PharmaCo AS works to select and appoint a permanent management team.
The NattoPharma board is highly optimistic about the extraordinary potential of pharmaceutical therapeutic applications of vitamin K2-MK7. It is therefore a priority to assure the continued momentum and seamless transition during this initial period. During this time Mr. Rosenbaum will be fully dedicated to the continued development and implementation of the pharmaceutical strategy, together with the newly appointed PharmaCo board.
Of equal importance is for NattoPharma to continue with its growth and performance gains. Thus, during this period, the Board of Directors of NattoPharma has further appointed Kjetil Ramsøy, current NattoPharma CFO, as Interim CEO. Mr. Ramsøy will also continue to act as CFO during this period.
With PharmaCo now fully responsible for driving the pharmaceutical initiative, Nattopharma will focus on sales growth and commercialization within the nutraceutical segment. To strengthen its commercial reach, NattoPharma is in the process of expanding its sales team with 2 to 4 people in Europe and Asia. More information will be announced in the next few weeks. To assure continuity in the company’s ability to drive its expansion plans, NattoPharma will also increase its global supply chain capabilities. In line with this priority, Mr. Peter Stahl, an expert in the areas of operations management, has joined the NattoPharma team for an extended engagement as Interim COO.
There are now two, highly focused entities with the potential to drive significant value creation in their respective areas. NattoPharma will focus in the dietary supplement and nutraceutical segments, where it continues to lead with its flagship MenaQ7 vitamin K2, selectively adding new, scientifically validated ingredients to its portfolio. PharmaCo AS will now be fully dedicated to taking the pharmaceutical initiative to the next level as it begins the next phase of clinical development and regulatory approvals.
For more information, please contact:
Kjetil Ramsøy Daniel Rosenbaum
CEO/CFO, NattoPharma CEO, PharmaCo
E-mail: kjetil.ramsoy@nattopharma.com E-mail: daniel.rosenbaum@nattopharma.com
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
This information is information that NattoPharma ASA (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 8:40 am CET on February 8th, 2018.
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