Pergamum appoints Jørgen Thorball as New Chairman of the Board

STOCKHOLM, Sweden - November 30, 2009. Karolinska Development AB and Pergamum AB announced today the appointment of Jørgen Thorball as Chairman of the Board of Directors of Pergamum AB, as of November 25, 2009. Dr. Thorball has extensive experience including the successful development and commercialization of new products within the pharmaceutical and healthcare industries. The appointment of Dr. Thorball brings a considerable experience in successful corporate deals and M&A transaction from the international pharmaceutical industry, which will significantly strengthen Pergamum's efforts in seeking to commercialize a number of its more advanced biopharmaceutical development projects.

Pergamum was established in 2009 at the initiative of the life science investment company, Karolinska Development, in order to better capitalize on its dermatology and wound healing interests. Pergamum is also the logical conduit for the commercialization of future projects offered to Karolinska Development within dermatology and wound healing. Pergamum currently manages and actively supports four Operating Units, three of which have projects in clinical phase development.

Karolinska Development's CEO, Conny Bogentoft, said, "Jørgen brings with him a wealth of experience and a proven track‐record for achieving aggressive business objectives. His commercial experience in developing successful corporate transactions is a tremendous asset for Pergamum as the company's projects move towards commercialization. Two of Pergamum's projects are in Phase II development and one has already achieved promising results from a Phase IIa clinical trial. As such, the timing of Jørgen's appointment is extremely positive."

Dr. Thorball has extensive senior executive experience from companies such as Pharmacia and Aventis. At Novozymes as Vice President, Business Development, he established Biotech as a second leg to Novozyme's enzyme business creating a business approaching 150MEuros. He has also a great deal of experience in establishing and developing new start‐up companies within the biotech sector, where his visionary leadership has resulted in some significant achievements. In 1997, Dr. Thorball founded BioGaia Healthcare Sweden and directed the company in the development of a range of products which today represent a multi‐million USD revenue stream.

Commenting on his new appointment, Dr. Thorball said, "Pergamum is a first of its kind biopharmaceutical company, making it a very exciting proposition. The company's development pipeline includes some very promising projects based on highly innovative, proprietary technologies. Several projects have already achieved solid clinical results. I am looking forward to helping Pergamum continue its successful development to date and to making sure the company is able to realize its excellent commercial potential."

In line with the new appointment, Björn Olander has stepped down from his previous position as Chairman, but will remain a member of Pergamum's Board of Directors.