Algeta ASA : Hilde Furberg and Paolo Pucci elected as new members of Algeta's Board of Directors

Marketwired

OSLO, NORWAY--(Marketwired - Apr 12, 2013) - Algeta ASA (OSE: ALGETA), a company focused onthedevelopment of novel targeted cancer therapeutics, is very pleased toannouncethat Mrs Hilde Furberg and Mr Paolo Pucci were elected as new Non-executivemembers of its Board of Directors at the Company's annual general meetingheldin Oslo on 11 April 2013.

Hilde Furberg (born 1958) has 30 years of experience in thepharmaceuticalindustry. She is currently Senior Vice President Rare Disease EMEA atGenzyme(Sanofi), which she joined in 2002. She opened the first operation forGenzymein the Nordic region and has also had management responsibility forGenzyme inthe BeneLux region. Prior to Genzyme, Mrs Furberg spent 15 years atBaxter invarious business roles of increasing seniority. She is a Non-executiveDirectoron the Board of Clavis Pharma ASA and is a board member of CopenhagenCapacity.Previous board memberships include Probi AB and Pronova Biopharma ASA(until theacquisition by BASF).

Mrs Furberg holds a Master of Science degree in Nuclear AnalyticalChemistryfrom the University of Oslo. She is a Norwegian citizen and residesin deNaarden, Netherlands.

Mrs Furberg holds 200 shares and no options in Algeta ASA and she has notworkedas a consultant for the Company.

Paolo Pucci (born 1961) is Chief Executive Officer and member of theBoard ofDirectors of ArQule Inc., a US-based, Nasdaq-listed cancer therapeuticscompany,which he joined in 2008. Before this, Mr Pucci was at Bayer AG, where heheldsequential responsibilities as Country Head Bayer ItalyPharmaceuticals,President & SVP Bayer Pharmaceuticals North America - GlobalSpecialtyPharmaceuticals, and member of the Bayer Pharmaceuticals ExecutiveCommittee. Heconcluded his tenure at Bayer as President in charge of the Bayer-ScheringPharmaceuticals Global Oncology/Specialized Therapeutics Business Unitsand wasinstrumental in building Bayer's global oncology franchise forNexavar(®). Priorto this, Mr Pucci held positions of increasing responsibility with EliLillybetween 1992 and 2001, culminating with his appointment as ManagingDirector,Eli Lilly Sweden AB. Mr Pucci is Non-executive Director on the Board ofDyax,Inc.

Mr Pucci holds an MBA from the University of Chicago and is a graduateof theUniversita Degli Studi Di Napoli in Naples, Italy. Mr Pucci is anItaliancitizen and resides in Boston, MA, USA.

Mr Pucci holds no shares and no options in Algeta ASA and he has not workedas aconsultant for the Company.

Stein Holst Annexstad, Algeta's Chairman, said: "We are very pleased towelcomeHilde and Paolo to the Algeta Board. Between them, they have awealth ofexperience in the global pharma industry and particularly in theclinical andcommercial development of innovative targeted cancer therapies. We lookforwardto the valuable contributions they will make to the furthergrowth anddevelopment of Algeta. We would also like to thank Ingrid Wiik and JoeAnderson,who stepped down from the Board at the AGM, for their efforts and inputovertheir respective periods with the Company."

About Algeta

Algeta is a company focused on developing novel targeted therapies forpatientswith cancer based on its alpha-pharmaceutical platform. TheCompany isheadquartered in Oslo, Norway, and has a US subsidiary, Algeta US, LLC,based inCambridge, MA performing commercial marketing operations in the US.Algeta islisted on the Oslo Stock Exchange (ALGETA.OL). For more informationpleasevisit www.algeta.com.

Press release:

http://hugin.info/134655/R/1692548/556075.pdf

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Source: Algeta ASA via Thomson Reuters ONE

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