Orexo appoints Peter Edman as Chief Scientific Officer

Uppsala, Sweden, October 4, 2011 - Orexo AB (STO: ORX) appoints Peter Edman as Chief Scientific Officer. Peter Edman’s long experience from all phases of drug development and his extensive scientific background makes him particularly well suited for assuming the overall responsibility for Orexo’s research and development.

Peter Edman holds a PhD and Associate Professor title in Biochemistry and has since 2008 been Chief Scientific Officer/Head of Research and Development at Sobi (Swedish Orphan Biovitrum). Prior to joining Sobi, Peter held various positions within research and development at Pharmacia, Astra och AstraZeneca. He has also been Director at the Swedish Medical Product Agency and has a background as Professor in Pharmaceutical Formulation and Adjunct Professor in drug delivery at the Faculty of Pharmacy, Uppsala University.

"It will be very exciting and rewarding to develop Orexo’s projects into innovative new drugs that can address significant medical needs," said Peter Edman.

"Peter Edman has extensive experience in the areas of research and development and leadership. Both his skills in early drug discovery and drug development in late stages will be of great value to Orexo. The strengthening of the executive management is the next step in our strategy to create profitability focusing on our three proprietary programs," said Anders Lundström, President and CEO of Orexo. "I am pleased to welcome Peter to Orexo’s executive management team."

Peter Edman will assume his position on January 1, 2012.

For further information, please contact:
Anders Lundström, President and CEO, Orexo AB
Tel: +46 706 67 22 66
E-mail: [email protected]


About Orexo
Orexo is a pharmaceutical company focusing on developing treatments for pain and inflammation. The company has four commercialized products, several projects developed in partnership as well as three proprietary development programs. Orexo’s registered products are Abstral® for the treatment of breakthrough cancer pain, sold by Kyowa Hakko Kirin/ProStrakan Group plc. in Europe and in the USA, the sleeping pill Edluar™, sold by Meda in the USA, as well as two products for the diagnosis of Helicobacter pylori which are being marketed by the subsidiary Kibion. More information can be found at www.orexo.com.

Note
Orexo AB (publ) discloses the information provided in this press release pursuant to the Securities Markets Act. The information was provided for public release on October 4, 2011 at 09:00a.m. CET. This press release has been prepared in both Swedish and English. In the event of any discrepancy in the content of the two versions, the Swedish version shall take precedence.