New CFO appointed
Navamedic earlier in May announced that the current CFO Jon W. Ringvold had resigned to pursue his career elsewhere, and Røttingsnes will start in his new position before Ringvold leaves on 1 September 2006.
Bernt-Olav Røttingsnes (35) holds a Master of Management from BI from which he also holds a degree in economics and administration. He has a strong background in the area of finance and control and comes from the position as Finance Manager in the Norwegian Ski Federation (NSF), where he has also in parallel headed the department of marketing and acted as General Secretary since he first joined NSF in 2002. Before joining NSF, Røttingsnes worked several years as an auditor and business controller with PricewaterhouseCoopers DA.
For further information, please contact:
Øyvind W. Brekke, CEO
E-mail: oyvind.brekke@navamedic.com
Office: +47 67 11 25 40
Mobile: +47 91 19 81 64
About Navamedic ASA:
Navamedic is a Norwegian speciality pharmaceutical company focusing on the development and production of glucosamine HCl (hydrochloride) based medicines. Glucosamine is a generic active ingredient which relieves pain and improves function in patients with mild to moderate osteoarthritis. The product has a favourable safety profile. Osteoarthritis is a chronic disease which affects a large and growing share of the world's population. Navamedic aims to become a leading company in the glucosamine industry, with a competitive advantage in proprietary production technology. The company's products will be sold through a network of sales, marketing and distribution partners. Navamedic's product Glucomed has been approved as a medicine against osteoarthritis in 20 European countries. The product was launched in Sweden in December 2005, and Navamedic prepares product launches in further European countries in 2006.