Alzinova's CEO Kristina Torfgård has informed the Board of Directors that she wishes to step down as CEO of the company. Kristina will continue to focus on completing the phase 1b clinical study and preparing Alzinova for a phase 2 study with ALZ-101 until she leaves her position on July 31, 2024. The Board of Directors will initiate the search for Kristina's successor immediately.
"It has been a fantastic journey and I am very proud of what we at Alzinova have achieved during my time as CEO. With strong data from the phase 1b study and with upcoming important milestones, I am convinced that the company has an exciting future with the goal of offering a therapeutic vaccine for Alzheimer's disease through strategic partnering. I look forward to following the company as an engaged shareholder in the future", comments Kristina Torfgård, CEO Alzinova.
Kristina has, with great commitment and success during her four and a half years as CEO of Alzinova, brought the company's vaccine candidate ALZ-101 to a phase 1b clinical study. With Kristina's leadership, ALZ-101 has completed part A1 of the clinical study with good results showing high safety and tolerability in patients, which is the primary objective of the phase 1b study. Alzinova has also, under Kristina's leadership, initiated two extension parts of the phase 1b study with the aim of obtaining valuable information for a future phase 2 study.
I would like to extend my and the boards' warm gratitude to Kristina for her valuable work during the over four years she has been at Alzinova. Under Kristina's leadership, the company has taken the development of ALZ-101 to the unique position it is today with a recently completed phase 1b study with excellent results. In parallel, the company's project portfolio has been expanded and business activities intensified. We are now well positioned to successfully develop ALZ-101 further and find commercial partners. I wish Kristina the best of luck in her new position. The Board will now initiate the recruitment of a new CEO with the aim of ensuring a smooth succession", comments Julian Aleksov, Chairman of the Board of Alzinova.
For additional information, please contact:
Chairman of the Board Julian Aleksov
e-mail: julian.aleksov@alzinova.com
About Alzinova
Alzinova AB is a Swedish clinical-stage biopharma company specializing in the treatment of Alzheimer's disease targeting toxic amyloid beta oligomers. The lead candidate, ALZ-101, is being developed as a therapeutic vaccine for the treatment of Alzheimer's. Alzinova's proprietary AßCC peptide technology enables the development of disease-modifying treatments that target the toxic amyloid beta oligomers involved in the onset and progression of the disease with high precision. Alzheimer's is one of the most common and devastating neurological diseases globally, with of the order of 40 million people afflicted today. In addition, the antibody ALZ-201 is in preclinical development, and the ambition is to expand the pipeline further. The company's Certified Adviser on Nasdaq First North Growth Market is Redeye AB. For more information about Alzinova, please visit: www.alzinova.com
