Nitec Pharma AG Announces Appointments of CEO & CFO in Preparation for Launch of Lodotra(R)



    REINACH, Switzerland, Sept. 3 /CNW/ - Nitec Pharma AG, today announced
the appointments of Anders Harfstrand as Chief Executive Officer, and Andrea
Buscaglia as Chief Financial Officer. Both executives bring with them a wealth
of strategic knowledge and expertise which complement that of the existing
management team. The appointments will enable Nitec to drive the
commercialization of its late-stage product, Lodotra(R) and progress the
development of its pipeline.
    Dr. Harfstrand and Mr. Buscaglia will complete Nitec's management team.
They will work alongside the company's co-founders Jochen Mattis, Executive VP
of Marketing and Sales and Dr. Achim Schaffler, Executive VP of R&D and
Technical operations.
    "I am extremely pleased that Anders has joined the Nitec Pharma team,"
said Dr. Karl Nagler, Member of Nitec's board of directors and Principal at
Atlas Venture. "He has tremendous worldwide operational experience and
impressive expertise in sales, marketing and business development. With Anders
joining Nitec's management Board, we expect continued strong performance from
Nitec going forward."
    Dr. Harfstrand added, "I look forward to working with Nitec's experienced
team to make Lodotra(R) a great success in treating rheumatoid arthritis. We
intend to establish Nitec as a reliable partner for patients, physicians and
investors by developing leading products and delivering innovative and
cost-effective solutions for chronic inflammatory diseases and pain."
    Commenting on Mr. Buscaglia's appointment, Jochen Mattis stated, "Andrea
will be a great asset to our management team. During his career, he has been
involved in numerous financial transactions, including several IPOs, giving
him the experience to give strategic input and direction to our business. We
are convinced that Andrea's expertise will support Nitec during this exciting
phase in the company's development."
    Dr. Harfstrand brings to Nitec Pharma almost 20 years of senior level
pharmaceutical experience. Most recently he was Senior Executive Vice
President at Serono, and previously held several executive positions in Pfizer
and Pharmacia. He has an outstanding track record in building Sales and
Marketing teams in the areas of Metabolic Diseases, Ophthalmology, Neurology
and Reproductive Health. During his career, Dr Harfstrand has been responsible
for the development of pharmaceutical brands in many global markets, including
Europe, USA and Japan. He graduated with a degree in medicine from the
Karolinska Institutet in 1983, and gained a PhD in neuropharmacology in 1987.
    Mr. Buscaglia joins Nitec Pharma from Merck Serono, where he was Vice
President Corporate Finance and Business Development for seven years. At
Serono he was actively involved in the July 2000 $2bn equity offering and New
York Stock Exchange listing, Investor Relations activities, as well as in
identification, valuation, and execution of M&A and licensing transactions.
Between 1992 and 2000, Mr. Buscaglia was an investment banker with S.G.
Warburg (now UBS), Deutsche Bank and Citigroup. During this eight year period
he participated in multiple M&A and Equity Capital Markets transactions,
including Initial Public Offerings, Secondary Offerings and Public Tender
Offers. Between 1988 and 1992 he was an auditor with Arthur Andersen & Co. Mr.
Buscaglia graduated from the Bocconi University in Milan in 1987 with a degree
in Business Administration and qualified as a Certified Public Accountant in
1988.

    About Nitec Pharma AG:

    Nitec Pharma is a biopharmaceutical company specialized in the
development and commercialization of optimized medicines for the treatment of
chronic inflammatory diseases and pain. Nitec is headquartered in Reinach,
Switzerland, with a subsidiary in Mannheim, Germany. The Company's most
advanced product is Lodotra(R), a circadian cytokine modulator for the
treatment of rheumatoid arthritis (RA). Nitec was originally founded in 2004
as a spin-out of Merck KGaA. The Company is financed by Atlas Venture, Global
Life Science Ventures and NGN Capital. For further information about Nitec
Pharma please visit http://www.nitecpharma.com

    This press release contains specific forward-looking statements, e.g.
statements including terms like believe, assume, expect or similar
expressions. Such forward-looking statements are subject to known and unknown
risks, uncertainties and other factors which may result in a substantial
divergence between the actual results, financial situation, development or
performance of the company and those explicitly or implicitly presumed in
these statements. Against the background of these uncertainties readers should
not place undue reliance on forward-looking statements. The company assumes no
responsibility to update forward-looking statements or to adapt them to future
events or developments.





For further information:

For further information: Dr. Anders Harfstrand, CEO, Nitec Pharma AG,
Tel: +41-61-715-20-46, Mobile: +41-79-83493-20, E-mail:
anders.harfstrand@nitecpharma.com; Jochen Mattis, EVP Marketing & Sales/BD,
Nitec Pharma AG, Tel: +41-61-715-20-47, Mobile: +49-151-17-43-33-77, E-mail:
jochen.mattis@nitecpharma.com; Dr. Karl Nagler, Principal, Atlas Venture
Munich, Widenmayestrasse 16, D-80538 Munich, Germany, Tel: +49-(0)89-4587450,
E-mail: knaegler@atlasventure.com

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