Photocure ASA - Photocure strengthens the Management Team

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Published: 9 January 2012Organisational Announcements

PHOTOCURE STRENGTHENS THE MANAGEMENT TEAM

Oslo, Norway, January 9, 2012:

Photocure ASA (OSE: PHO), a specialty pharmaceutical company focused on photodynamic technologies in dermatology and cancer, today announces the appointment of Ambaw Bellete to its management team, as the Head US Cancer Commercial Operations.

In his new role, Ambaw will provide leadership for the Cysview® commercial operations as Photocure drives forward the new commercial strategy in the US market.  Ambaw Bellete has over 20 years experience in the pharmaceutical and medtech industry where he held several executive leadership positions in marketing, sales and commercial operations. He will report directly to the President and CEO, Kjetil Hestdal.

Prior to joining Photocure, Ambaw was President of Medical Compression Systems Inc. in the US, where he spearheaded the launch of a medical device for use in orthopedic surgery.  Prior to this, he spent almost ten years at Sanofi Aventis, and was Vice President of the Uro-Injectables franchise in the US.  He also held a number of executive positions within several therapeutic business units at Sanofi. Ambaw holds a Bachelor of Science degree in Biology and Chemistry from Murray State University.

Commenting on the appointment Kjetil Hestdal, MD, PhD, President and CEO of Photocure said: "Ambaw brings in-depth experience and knowledge of managing and growing US commercial operations across therapeutic areas and life science industries. His appointment will further strengthen the Photocure management team as we execute our strategy to become a specialty pharmaceutical company."

In addition the Photocure management team will be expended and further strengthened with the internal appointment of Terry Conrad, Head US Dermatology Commercial Operations and Espen Njåstein, Head Nordic Cancer Commercial Operations.  They will join the current management team members Kathleen Deardorff, Inger Ferner Heglund, Grete Hogstad, Gry Stensrud and interim CFO Torbjørn Øye.

For further information, please contact:
 
Photocure
President & CEO Kjetil Hestdal
Tel: + 47 913 19 535, Email: kh@photocure.no

M: Communications

Mary Clark, Amber Bielecka, Hollie Vile
Tel: +44 207920 2361, Email: photocure@mcomgroup.com

About Photocure ASA

Photocure ASA is a worldwide leader in photodynamic technology. Listed on the Oslo Stock Exchange (OSE: PHO), Photocure is focused on photodynamic technologies in dermatology and cancer. The company strives to solve unmet needs by developing new and innovative solutions based on its patented Photocure Technology(TM). Photocure markets and sells its own products in selected markets and has developed strong partnerships with leading pharmaceutical companies on a regional and global basis. Photocure's bladder cancer diagnostic product, Cysview/Hexvix is approved in Europe and the US. In addition, the company markets Allumera®, a photodynamic cosmetic in the US. Setting new standards for diagnosis and treatment of several different conditions, Photocure Technology(TM) is continuously being tested for new products and applications in cancer and dermatology.

Allumera®, Photocure® and Cysview(TM)/Hexvix® are registered trademarks of Photocure ASA. For more information about Photocure, visit www.photocure.com.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
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