Orexo accelerates its portfolio development – Dr. Nils-Otto Ahnfelt assumes position as Project Director

Uppsala-based biotechnology company Orexo is further strengthening its organization through the recruitment of Dr. Nils-Otto Ahnfelt as Project Director, with the task of driving development of the company’s product portfolio on a project basis. Dr. Ahnfelt will also be a member of Orexo’s executive management team. Nils-Otto Ahnfelt has more than 20 years of industry experience, mainly from Pharmacia, and joins Orexo from Doxa AB, where he was head of the company’s Research and Development .

Orexo uses existing and well-documented substances to rapidly develop new, innovative and patented pharmaceuticals. In 2004, the company’s portfolio of development projects was further expanded and advanced. Dr. Nils-Otto Ahnfelt has been recruited as Project Director to further enhance Orexo’s capacity and expertise in pharmaceutical development. He will also be a member of the Orexo Executive Management Team. “We have a number of projects with significant therapeutic and commercial potential. As these projects approach the registration phase and the market, and as new projects are added, the need increases for a full-scale function to efficiently drive project development. Nils-Otto’s expertise and many years of experience are highly compatible to filling this important role,” says Zsolt Lavotha, President & CEO of Orexo. Orexo’s product portfolio currently comprises a commercialized product, a number of product candidates at the clinical-development phase and some well-advanced formulation projects. The common denominator to all of Orexo’s product development efforts is it’s therapeutic need focus on products with considerable medical and commercial potential, which can be rapidly developed and patented at a lower risk and lower cost than conventional pharmaceutical drug discovery and development. “Orexo’s business model, product portfolio and proven ability to guide products all the way to the market makes Orexo a highly attractive company and the assignment to ensure a continued effective development of the company’s product portfolio will be an exciting challenge,” says Nils-Otto Ahnfelt. Dr. Nils-Otto Ahnfelt took his doctor’s degree at the Department of Analytical Pharmaceutical Chemistry at the University of Uppsala. He has more than 20 years of industry experience, mostly derived from various key positions within Pharmacia’s research and development organization. Nils-Otto Ahnfelt joins Orexo from Doxa AB, where he was head of the company’s research and development operations. For further information, please contact Zsolt Lavotha, President & CEO +46 (0)18-780 88 00, e-mail: zsolt.lavotha@orexo.se Mona Cunningham, Human Resources Manager +46 (0)18-780 88 28, e-mail: mona.cunningham@orexo.se