Beactica announces the appointment of a new Chairman and a new Member to its Board

Beactica, the leading Swedish fragment-based drug discovery company, today announced that board member Gisela Sitbon will assume the position of Chairman and that Mr Jan Mellberg will join its Board, both effective immediately.

Dr Gisela Sitbon has more than 25 years experience from the life science industry including positions as Managing Director, Vice President of Business Development and Head of Research & Development. She is a non-executive member of the board at a number of companies and organisations including Industrifonden, an independent ever-green fund investing in Swedish growth companies. Gisela gained her Doctorate of Medical Sciences from the Karolinska Institute in 1987.

Dr Sitbon commented: “Beactica’s growth has been impressive, especially considering the economic climate. The company is clearly ready to progress further and I look forward to playing an active role in its development”.

Mr Mellberg brings over 30 years of experience as senior executive and board member in global companies in the biotechnology industry. He served in a number of leading positions including Chief Financial Officer and Executive Vice President of Pharmacia Biotechnology (now GE Healthcare) and Procordia Beverages.

Jan Mellberg commented: “I am very pleased and honored to be joining the Board of Beactica at such an exciting time for both the company and the industry”.

Beactica’s CEO, Dr Per Källblad commented: “The team at Beactica is delighted that Gisela has become Chairman and that Jan has agreed to join the Board. Their tremendous expertise in management, financing and strategy will bring substantial value as the Company moves forward.”

Dr Sitbon succeeds Dr Källblad, who co-founded Beactica in 2006, as Chairman. Dr Källblad will continue to serve as the CEO and a director on the board.

For additional information please contact Dr Per Källblad, Beactica CEO, +46 18 56 08 80.

About Beactica

Beactica AB is a specialist drug discovery company, utilising its proprietary methodologies to evaluate the biophysical interaction of molecules in order to generate novel therapeutics. The Company offers expertise and services in the area of SPR biosensor-based small molecule interaction analysis and partnerships for fragment-based lead generation using our proprietary Sprint™ platform. Founded in 2006 based on research carried out at Uppsala University and first-hand experience from the drug discovery industry, Beactica has established a robust reputation as the leader in SPR-based small molecule drug discovery. As well as providing services and building collaborations with external companies, Beactica is progressing its own drug discovery programmes. For more information, please visit www.beactica.com.