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Orexo hires new CEO as Biolipox acquisition closes

The board of directors of Swedish pharmaceutical company Orexo appoints Torbjoern Bjerke as new CEO of the company

The board of directors of Swedish pharmaceutical company Orexo has appointed Torbjoern Bjerke as new CEO of the company.

The appointment was announced at the same time as Orexo revealed it had finally acquired Biolipox.

Orexo has acquired all shares and warrants in Biolipox through payment consisting of 7,630,895 new shares in Orexo and 926,000 warrants allowing subscription for 926,000 new shares in Orexo.

Bjerke was previously CEO in Biolipox. As previously announced, Zsolt Lavotha, Orexo's former CEO, will leave his post and serve as Senior Advisor to Orexo's board.

The board of directors of Orexo has also prepared a prospectus regarding listing of shares in Orexo in connection with the acquisition of Biolipox.

30th September 2008

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