News

May 29th, 2007 - Press Release

ReceptIcon today announced the appointment of Professor Anders Vedin, MD, PhD as Chairman of its Board of Directors. Professor Vedin brings extensive experience from pharmaceutical and biotech companies and is a member of several biotech company boards.

“We are excited to have Anders join us as our new Chairman” says Steen Helde Hemmingsen, outgoing Chairman of ReceptIcon’s Board of Directors. “Anders will bring in his international experience and play a central role in the continued development of ReceptIcon.”

Professor Vedin is an MD, PhD and Professor in Management of Medical Technologies at Chalmers University of Technology. Professor Vedin is the Chairman of a number of companies including Medivir AB, CLC Ltd (UK), Cellartis AB and Resistentia Pharmaceuticals AB and has previously held positions as both vice president of Astra AB and president of Astra Hässle AB.

“I look very much forward to working with ReceptIcon” says Professor Vedin. “The company is based on an intriguing technology and has been able to make considerable progress since its inception. The Company is now poised to advance its first drug into the clinic and I am eager to help the Company during this important phase.”

Steen Helde Hemmingsen who has been the Chairman since December 2005 will continue to serve the Company as a Board member. “Steen has done a laudable job”, says Anders Vedin. “He has overseen the Company’s transformation from a university based virtual company to a biotech company with a professional management team, industrial grade project plans and the first drug on its way to the clinic”.

About ReceptIcon ApS:

ReceptIcon is a spin-out from a research collaboration between the University of Aarhus and the Max Delbrück Center for Molecular Medicine in Berlin . The company is based on research that led to the identification of a protein, Megalin, which mediates the kidney damage caused by many important and frequently used drugs. ReceptIcon has developed a number of compounds capable of blocking Megalin and thus preventing kidney damage. ReceptIcon intends to develop these compounds for the treatment of various important unmet medical needs, including prevention of kidney failure. The Company's investors include InnovationsKapital, INCUBA Venture, Dansk Erhvervsinvestering, VECATA A/S, and Oestjysk Innovation .

For further information, please contact:

Dr. Hans Schambye, CEO, ReceptIcon, at +45 8620 5190