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

04-Sep-2007

Nitec Pharma AG announced the appointments of Anders Harfstrand as Chief Executive Officer, and Andrea Buscaglia as Chief Financial Officer. The appointments shall 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.

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.

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