PledPharma Appoints Nicklas Westerholm as New CEO

Stockholm, 2017-04-06 08:00 CEST (GLOBE NEWSWIRE) --  

The recruitment is aligned with the ambition of the Board of Directors to add further resources and expertise to company management, ahead of the continued clinical development and commercialization of the drug candidates PledOx ^® and Aladote ^® .

Nicklas Westerholm, b. 1976, has since 1995 been working in the AstraZeneca Group in several global roles and different business areas, most recently as Vice President Project & Portfolio Management, Cardiovascular and Metabolic Diseases, Global Medicines Development Unit. Prior positions include roles as Executive Officer and Vice President of Japan Operations, Director Investor Relations, Head of Global API Supply and Head of Development Manufacture. Nicklas Westerholm has studied analytical and organic chemistry at Stockholm University, and Chemical Engineering at KTH Royal Institute of Technology. He has also participated in educational programs at the University of Warwick, INSEAD and Harvard Business School. 

"We are delighted to welcome Nicklas Westerholm as PledPharma’s new CEO. His extensive experience and leadership skills will be important to strengthen the organization and execute the continued clinical development and commercialization of our drug candidates PledOx ^® and Aladote ^® ," says Håkan Åström, Chairman of PledPharma.

"I am both humbled and excited by the appointment as CEO in PledPharma, and look forward to lead and develop the company with the objective of making PledOx ^® and Aladote ^® available for those patients who are at risk of severe health impairment following chemotherapy or overdose of acetaminophen. Chemotherapy induced nerve damage, like acetaminophen-induced liver failure, are serious conditions lacking effective treatment. The market potential for PledPharma’s drug candidates are significant, and consequently also the opportunities to create value for the company’s shareholders," says Nicklas Westerholm, incoming CEO.  

In conjunction with Nicklas Westerholm assuming his position on June 16, 2017, the current CEO, Jacques Näsström, will transition to a leading position where he will be continuously engaged in PledPharma’s research and development activities.

For further information, please contact:

Håkan Åström, Chairman of the Board

Tel. +46 (0)70-374 72 13

Jacques Näsström, Chief Executive Officer

Tel. +46 (0)73-713 09 79

jacques.nasstrom@pledpharma.se

Nicklas Westerholm, incoming Chief Executive Officer

Tel. +46 (0)73-354 20 62

About PledPharma

PledPharma develops new drugs that protect the body against oxidative stress – a potentially debilitating and sometimes life-threatening condition that can be caused by chemotherapy treatment and following acetaminophen (paracetamol) overdose. The company's most advanced project PledOx ^® is being developed to reduce nerve damage associated with chemotherapy. A phase IIb study has been conducted and will serve as the basis for the continued development. The drug candidate Aladote ^® is being developed to reduce the risk of acute liver failure associated with acetaminophen poisoning.

PledPharma (STO: PLED) is listed on Nasdaq First North. Erik Penser Bank is the company’s Certified Adviser ( tel +46 8 463 80 00) . For more information, see www.pledpharma.se                

This information is information that PledPharma AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at CET 08:00 on April 6, 2017.