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Algeta Appoints Mike Booth as Senior Vice President, Communications and Corporate Affairs

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Algeta ASA has announced that Dr. Mike Booth has been appointed as Senior Vice President, Communications and Corporate Affairs, and will take up this new role on 17 October 2011.

In this newly created position, Dr. Booth will be responsible for Algeta’s global corporate communications and investor relations activities.

He will also play a key role in overseeing and expanding the Company’s capital markets footprint internationally, including both the United States and across Europe.

Dr. Booth will report to both the CEO and CFO of Algeta.

Dr. Booth will join Algeta from Trout International in London, the European operations of The Trout Group, LLC, a leading global life sciences-focused investor relations and strategic advisory firm.

He was educated at St Andrews University, Scotland and received his DPhil in neuropsychology from the University of Oxford.

Before joining The Trout Group in 2007, Dr. Booth spent eight years in investment banking and equity research positions focusing on the life sciences and biotech sectors at UBS, Bank of America and Canaccord.

Andrew Kay, Algeta's President and CEO, said: "Algeta is entering a very exciting time as we prepare for the publication of the ALSYMPCA data and, in partnership with Bayer, the global regulatory filings for Alpharadin. Our accelerated timelines for the target launch of Alpharadin, after the FDA recently granted it fast track status, has enabled us to move our business plans forward considerably. As a result, we are delighted to welcome Mike to the senior management team as his skills, background and reputation are critical for this key role."

Dr. Booth added: "I am very pleased to be joining Algeta, one of Europe’s premier biotech companies, at a time when it is approaching a key inflection point in its corporate development. Alpharadin promises to be a significant asset for Algeta, its stakeholders and most importantly for cancer patients and physicians alike. In addition, Algeta’s pipeline of novel TTCs (Targeted Thorium Conjugates), based on its unique Thorium platform, could improve the efficacy of targeted anti-cancer agents and illustrates the additional future potential of the Company."