Photocure ASA - Photocure strengthens the Management Team

Photocure Strengthens the Management Team

OSLO, Norway, 27 April 2011

Photocure (OSE:PHO), a Norwegian pharmaceutical company specializing in dermatology and cancer, today announces the appointment of Kathleen Deardorff, PharmD as Chief Operating Officer from May 1, 2011. In this role, Kathleen will report directly to the President and CEO, Kjetil Hestdal and becomes a member of the Management Team, joining current management team members Christian Fekete, Inger Ferner Heglund, Grete Hogstad and Gry Stensrud. In this role she will provide leadership for the company's business development and alliance management/strategic partner relationship functions. She will also play a key role in strategy development and execution as well as corporate communications.

Kathleen Deardorff has over 25 years experience in the pharmaceutical industry where she has held senior leadership positions in strategic marketing, operational marketing and business development, crossing multiple geographies. Her most recent position was Head of Global Marketing at GE Healthcare, encompassing strategy development and global execution for both marketed and pipeline products for the contrast media and radiopharmaceutical franchise. Prior to joining GE Healthcare, Kathleen spent 17 years at Bristol-Myers Squibb, most recently as Vice President for the US Oncology Franchise. Kathleen holds a Bachelors of Pharmacy and Pharm D from Purdue University.

Kjetil Hestdal, MD, PhD, President and CEO of Photocure said, "We are delighted that Kathleen Deardorff has joined the Photocure team. Her knowledge of the business and industry across multiple geographies and high level of business acumen will further strengthen our team as we continue to execute our strategy of evolution into a specialty pharmaceutical company."