Svein Lien appointed new CEO of Biotec Pharmacon ASA

Svein Lien (55) joins the company with a financial background and extensive experience from technology- and diagnostics businesses, most recently as CEO of Axis-Shield plc, the diagnostic company listed in London and Oslo.

“The company has gone through a hectic and challenging few years. Having identified a likely root cause for the disappointing clinical phase III results with SBG in wound care, I believe now is the right time for a new management to re-establish a strategic platform and pursue the pharmaceutical opportunities in parallel with continued development of the very successful marine enzyme business,” says CEO Lars Viksmoen.

“Lars has made significant contributions to the company. We regret his decision to leave the organization, but respect his wish to step aside and let others take leadership as the company enters a new phase of its pharmaceutical development program”, says Chairman of the Board Svein Mathisen in Biotec Pharmacon.

Further, Svein Mathisen added: “With Svein Lien we have secured an experienced CEO with the skills and profile necessary to leverage the opportunities in our business portfolio.”

“I am very much looking forward to this challenge” Svein Lien says. “I know the company very well from several years as a Board Member and have always been very confident with the technology platform and admired the highly skilled and talented organization. I also have a strong faith in the opportunities created by the close relation to the research community in Tromsø. We will need some more time to conclude on the root cause behind the disappointing Phase III results and to clarify the strategic route forward. Following that we will inform the market, most likely via a capital market day in Q2.”

Following divestment of Immunocorp Animal Health in 2008 and Immunocorp Consumer Health at the end of 2009 Biotec Pharmacon has narrowed its strategic focus to two core business areas; pharmaceutical development and marine biochemicals. Whereas pharmaceutical development yet is in a research & development phase, Biotec Marine Biochemicals is a profitable, high-growth business, centered and specialized around cold-adapted marine enzymes for the molecular biology and diagnostics markets.

Source: Biotec Pharmacon

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