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ReNeuron Announces Appointment of Chief Executive Officer

ReNeuron Announces Appointment of Chief Executive Officer

ReNeuron Announces Appointment of Chief Executive Officer

ReNeuron Announces Appointment of Chief Executive Officer

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ReNeuron Group plc has announced the appointment of Olav Hellebø, a highly experienced pharmaceutical executive, as the Company’s new Chief Executive Officer, with immediate effect.

Olav joins ReNeuron with broad commercial experience gained at both major pharmaceutical and small biotechnology companies. He has particular experience of the clinical development, out-licensing, commercialization and marketing of new therapeutics.

Most recently, Olav held the role of CEO at Clavis Pharma ASA, a Norwegian, oncology focused, listed biotechnology company. At Clavis, Olav built a multi-national leadership team, taking the company’s lead programme through Phase III clinical development as well as completing substantial fundraising and out-licensing transactions for the business.

Prior to Clavis, Olav headed up the global biologics franchise at UCB Pharma and was head of the UK commercial operations of Novartis. Olav started his pharmaceutical career in 1992 at Schering-Plough, where he held a number of senior commercial roles in Europe and the US, including leading its US commercial operations in the areas of oncology, cardiovascular and hepatitis-C, representing annual sales in excess of $2 billion. Olav has an MBA from the IESE Business School in Spain and a Bachelor of Business Administration from Hofstra University, USA.

As announced in April 2014, Michael Hunt, who has held the position of Chief Executive Officer since July 2005, will remain on ReNeuron’s Board as Chief Financial Officer, also with immediate effect, with responsibilities covering finance, public and investor relations and overall commercial and financial strategy.

Bryan Morton, Chairman of ReNeuron, commented: “I am delighted to welcome Olav Hellebø to the role of Chief Executive Officer. His breadth of experience in healthcare and in the commercialization of pharmaceuticals will be invaluable as ReNeuron moves to the next stage in the clinical and commercial development of its novel therapeutic candidates. I am also delighted that, as previously announced, Michael Hunt will continue as a key member of ReNeuron’s executive team in the new role of Chief Financial Officer. I and my fellow Directors look forward to working with both Olav and Michael towards ReNeuron’s future success.”

Olav Hellebø commented: “ReNeuron has impressed me by their advanced technology, competent team and strong backing by successful biotech investors. Regenerative medicine is very promising for advancing patient care in a multitude of diseases and I believe that the development of off-the-shelf stem cell therapies, such as ReNeuron’s stem cell therapy candidates, will be the best way to ensure as many patients as possible have an opportunity to benefit from these advances in the future.”