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Dr. Harfstrand and Mr. Buscaglia will complete Nitec's management team.They will work alongside the company's co-founders Jochen Mattis, ExecutiveVP of Marketing and Sales and Dr. Achim Schaffler, Executive VP of R&D andTechnical operations.
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"I am extremely pleased that Anders has joined the Nitec Pharma team"said Dr. Karl Nagler, Member of Nitec's board of directors and Principal atAtlas Venture. "He has tremendous worldwide operational experience andimpressive expertise in sales, marketing and business development. WithAnders joining Nitec's management Board, we expect continued strongperformance from Nitec going forward."
Dr. Harfstrand added, "I look forward to working with Nitec's experiencedteam to make Lodotra (R) a great success in treating rheumatoid arthritis. Weintend to establish Nitec as a reliable partner for patients, physicians andinvestors by developing leading products and delivering innovative andcost-effective solutions for chronic inflammatory diseases and pain."
Commenting on Mr. Buscaglia's appointment, Jochen Mattis stated, "Andreawill be a great asset to our management team. During his career, he has beeninvolved in numerous financial transactions, including several IPOs, givinghim the experience to give strategic input and direction to our business. Weare convinced that Andrea`s expertise will support Nitec during this excitingphase in the company's development."
Dr. Harfstrand brings to Nitec Pharma almost 20 years of senior levelpharmaceutical experience. Most recently he was Senior Executive VicePresident at Serono, and previously held several executive positions inPfizer and Pharmacia. He has an outstanding track record in building Salesand Marketing teams in the areas of Metabolic Diseases, Ophthalmology,Neurology and Reproductive Health. During his career, Dr Harfstrand has beenresponsible for the development of pharmaceutical brands in many globalmarkets, including Europe, USA and Japan. He graduated with a degree inmedicine from the Karolinska Institutet in 1983, and gained a PhD inneuropharmacology in 1987.
Mr. Buscaglia joins Nitec Pharma from Merck Serono, where he was VicePresident Corporate Finance and Business Development for seven years. AtSerono he was actively involved in the July 2000 $2bn equity offering and NewYork Stock Exchange listing, Investor Relations activities, as well as inidentification, valuation, and execution of M&A and licensing transactions.Between 1992 and 2000, Mr. Buscaglia was an investment banker withS.G.Warburg (now UBS), Deutsche Bank and Citigroup. During this eight yearperiod he participated in multiple M&A and Equity Capital Marketstransactions, including Initial Public Offerings, Secondary Offerings andPublic Tender Offers. Between 1988 and 1992 he was an auditor with ArthurAndersen & Co. Mr. Buscaglia graduated from the Bocconi University in Milanin 1987 with a degree in Business Administration and qualified as a CertifiedPublic Accountant in 1988.
About Nitec Pharma AG:
Nitec Pharma is a biopharmaceutical company specialized in thedevelopment and commercialization of optimized medicines for the treatment ofchronic inflammatory diseases and pain. Nitec is headquartered in Reinach,Switzerland, with a subsidiary in Mannheim, Germany. The Company's mostadvanced product is Lodotra (R), a circadian cytokine modulator for thetreatment of rheumatoid arthritis (RA). Nitec was original
