• Göran Forsberg, CEO, steps down
• Damian Marron, Board Director, to assume role of Interim CEO
• Recruitment process for new permanent CEO underway

Cantargia (Cantargia AB; Nasdaq Stockholm: CANTA) today announced changes to its management.

Cantargia is entering into an exciting new phase on its journey towards bringing safe and efficacious medicines to patients with cancer and inflammatory disease, based on its deep knowledge of IL1RAP biology and its portfolio of proprietary IL1RAP antibodies.

The Board of Directors, in discussion with CEO, Göran Forsberg, has decided to initiate a search for a new CEO to lead Cantargia into the next phase of development and value creation. Göran Forsberg will be stepping down with immediate effect and will assist with the transition. During the recruitment process, Board Director, Damian Marron, a veteran four-time CEO, will assume the role of Interim CEO, supported by Chairman, Magnus Persson and the Board.

The Board wishes to recognize and to thank Göran Forsberg for successfully building Cantargia from a concept stage to a company with two promising drug candidates in clinical trials, and for his visionary leadership.

The Board expresses its gratitude to Damian Marron for lending the company his vast experience in leadership, financing and dealmaking.

“I have cherished the productive work relationship over several years with Göran” says Chairman of the Board of Directors, Magnus Persson, and further “I and the Board are looking forward to work with Damian in bringing Cantargia to the next stage as we look to appoint our new, permanent CEO”.

“I am hugely excited by the prospects for Cantargia, and I will use all my experience to look to accelerate the creation of value from our programs and platform. We have a number of potential opportunities in front of us, which will be my principal focus in the next weeks and months,” said Damian Marron, Interim Chief Executive Officer. “I want to thank Göran for his dedication and leadership of Cantargia, without which the company would not be where it is today.”.

“It has been a pleasure and a privilege to lead Cantargia from a private, research stage company to become the publicly listed, clinical stage company with two highly promising programs that Cantargia is today” said Göran Forsberg. “I am grateful to all my colleagues without whom this would not have been possible. I look forward to continuing to see Cantargia grow in the months and years to come.”.

For further information, please contact
Magnus Persson, Chairman
E-mail: info@cantargia.com

About Damian Marron

Damian Marron is an accomplished Board Chair, Non-Executive Director and former serial CEO with a successful track record of leadership and value creation in public and private biotech companies, including two companies acquired and one IPO. Damian has a strong track record of public and VC financing (~€250 million raised), deal making, strategic and portfolio planning and company development. He possesses an extensive network of contacts globally from big pharma through to biotech companies and with investors, banks and analysts. Damian has a BSc Hons in Pharmacology and spent the first ten years of his career in big pharma clinical development. He is Chair of the Board of Circio Holdings ASA and Nicox SA and independent non-executive Board member of Onya Therapeutics Ltd and Head of Biopharma for Treehill Partners, a global pureplay healthcare advisory boutique.

About Cantargia
Cantargia AB (publ), reg. no. 556791-6019, is a biotechnology company that develops antibody-based treatments for life-threatening diseases and has established a platform based on the protein IL1RAP, involved in a number of cancer forms and inflammatory diseases. Cantargia’s oncology program, the antibody nadunolimab (CAN04), is being studied clinically, primarily in combination with chemotherapy with a focus on pancreatic cancer, non-small cell lung cancer and triple-negative breast cancer. Positive data for the combinations indicate stronger efficacy than would be expected from chemotherapy alone. Cantargia’s second development program, the antibody CAN10, blocks signaling via IL1RAP in a different manner than nadunolimab and addresses treatment of serious autoimmune/inflammatory diseases, with initial focus on hidradenitis suppurativa and systemic sclerosis.
 
Cantargia is listed on Nasdaq Stockholm (ticker: CANTA). More information about Cantargia is available at www.cantargia.com.