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OctoPlus N.V. ("OctoPlus" or the "Company") (Euronext: OCTO), the drug delivery company, is pleased to announce that its Board of Supervisory Directors has hired Jan Hendrik Egberts, M.D. and nominated him for appointment as Chief Executive Officer at the Annual General Meeting of Shareholders in the spring of 2011. He will replace OctoPlus' current CEO Simon Sturge, who will leave the Company as per 1 January 2011 to lead a large division in a top-15 pharmaceutical company. Dr. Egberts will immediately start working together with Mr. Sturge until the end of this year to ensure a smooth transition.
"The Board of Supervisory Directors is proud to have recruited Jan Hendrik Egberts as CEO. He is a highly experienced and skilled professional and we look forward to welcoming him to the executive team. We are sorry to see Simon go but we understand his decision to act on a unique job opportunity," says Hans Stellingsma, Chairman of the Board of Supervisory Directors of OctoPlus. "The Board nominates Dr. Egberts based on his successful track record in general management, investment management and business development, which he obtained at leading innovative and publicly listed companies. We sincerely thank Simon Sturge for the achievements OctoPlus has made under his leadership."
Proposed CEO Jan Hendrik Egberts, M.D. brings over 20 years of experience in the pharmaceutical sector to OctoPlus. He graduated from Erasmus University Medical School in the Netherlands and he pursued the clinical part of his training at Harvard Medical School. He obtained his MBA from Stanford and started his business career in clinical research at Organon Teknika in Belgium. He worked for four years as a strategic consultant to life sciences companies at McKinsey & Company, and from 1994 onwards held business development and general management positions of increasing responsibility in the USA at Merck, Johnson & Johnson and Mölnlycke Health Care. He became CEO of Novadel Pharmaceuticals, Inc. in 2005. Subsequently, Dr. Egberts has served as Senior Advisor in healthcare investments to private equity firm 3i Group and has also gained experience in non-executive positions.
Jan Hendrik Egberts comments: "OctoPlus is making huge progress in commercialising its controlled release technology. I intend to further build the value of the Company's portfolio of formulation and manufacturing collaborations and its drug delivery programs. I am very excited to be part of OctoPlus' future."
This document may contain certain forward-looking statements relating to the business, financial performance and results of OctoPlus and the industry in which it operates. These statements are based on OctoPlus' current plans, estimates and projections, as well as its expectations of external conditions and events. In particular the words "expect", "anticipate", "predict", "estimate", "project", "plan", "may", "should", "would", "will", "intend", "believe" and similar expressions are intended to identify forward-looking statements. We caution investors that a number of important factors, and the inherent risks and uncertainties that such statements involve, could cause actual results or outcomes to differ materially from those expressed in any forward-looking statements. In the event of any inconsistency between an English version and a Dutch version of this document, the English version will prevail over the Dutch version.
OctoPlus is a drug delivery company committed to the creation of improved pharmaceutical products that are based on OctoPlus' proprietary drug delivery technologies and have fewer side effects, improved patient convenience and a better efficacy/safety balance than existing therapies. OctoPlus focuses on the development of long-acting, controlled release versions of known protein therapeutics, other drugs, and vaccines on behalf of its clients.
The clinically most advanced product incorporating our technology is Biolex Therapeutics' lead product Locteron®, a controlled release formulation of interferon alpha for the treatment of chronic hepatitis C. OctoPlus licensed Locteron exclusively to Biolex in October 2008. Locteron is being manufactured for Biolex by OctoPlus and is currently in Phase IIb clinical studies.
In addition, OctoPlus is a leading European provider of advanced drug formulation and clinical scale manufacturing services to the pharmaceutical and biotechnology industries, with a focus on difficult-to-formulate active pharmaceutical ingredients.
OctoPlus is listed on Euronext Amsterdam by NYSE Euronext under the symbol OCTO. For more information about OctoPlus, please visit our website www.octoplus.nl.
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Rianne Roukema, Corporate Communications: telephone number +31 (71) 524 1071, or send an e-mail to Investor Relations at
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