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Gastrotech Pharma A/ S

Gastrotech Announces the Appointment of Dr. Hans Schambye as Chief Executive Officer

Copenhagen, Denmark (ots/PRNewswire)

Gastrotech Pharma A/S
announced today that Dr. Hans T. Schambye has been appointed as its
Chief Executive Officer. He replaces Professor Claes Post who will
continue to serve the company as a member of Gastrotech's Board of
Directors and Senior Vice President. Dr. Post will focus entirely on
identification and evaluation of product in-licensing opportunities -
a key aspect of Gastrotech's business.
Professor Olle Isaksson, Chairman of the Board of Directors of
Gastrotech Pharma A/S says: "Hans has done a great job managing our
Project Portfolio and efficiently advancing our important clinical
programs to the next stages of development. Furthermore, he has
applied his comprehensive understanding of biotech strategy as a
member of the Gastrotech management team. I look forward to working
with Hans in his new role."
"Gastrotech is a very promising company, with an advanced clinical
stage product pipeline and its partnership with Eli Lilly", says
Gastrotech board member Florian Schönharting of Nordic Biotech, an
early stage biotech venture fund. "Hans has brought significant
experience to the Company and has been instrumental in its rapid
transformation from an early stage start-up to a biotech company with
two programs in clinical Phase II. Hans' promotion strengthens the
Company and prepares it for future development."
Dr. Schambye, who has served as Gastrotech's Senior Vice President
of Research and Development since March 2004, has substantial
experience in managing biotech companies. Before joining Gastrotech,
Dr. Schambye served as Director of Biology and Pharmacology and Head
of Portfolio Management at Maxygen, a US biotech company. In 1999,
Dr. Schambye co-founded ProFound Pharma A/S, a Danish biotech
company, which was acquired by Maxygen in 2000. Previously, Dr.
Schambye was a project manager at Novo Nordisk and a Postdoctoral
fellow at Stanford University. He has also worked as a hospital
doctor mainly within gastroenterology. Dr. Schambye holds an MD from
Odense University and a PhD in Medical Sciences from Copenhagen
University.
About Gastrotech Pharma A/S
Gastrotech Pharma A/S is a clinical stage biotech company focused
on development of innovative new therapeutics for significant unmet
medical needs. Gastrotech's therapeutics are based on naturally
occurring peptide hormones, which have a much more attractive
risk-reward profile than traditional small-molecule based compounds.
Gastrotech has two programs in clinical development: GTP-010 for
Irritable Bowel Syndrome, which is developed in partnership with Eli
Lilly & Co., and GTP-200 for the treatment of cachexia and other
catabolic syndromes.
More information is available at www.gastrotechpharma.com.

Contact:

For further information contact: Dr. Hans T. Schambye, CEO,
Gastrotech Pharma A/S, at +45-33-44-42-42