Bergen, Norway, July 5th, 2023 – Cytovation ASA, a clinical stage immune-oncology company focused on the development of its first-in-class targeted tumor membrane immunotherapy CyPep-1, announces the appointment of Olav Hellebø to its Board of Directors. 

Mr. Hellebø brings extensive international leadership experience, both in the US and Europe, across major pharmaceutical and biotechnology companies. Previously, he was Chief Executive Officer at ReNeuron, the UK-listed biotechnology company and, prior to this, Clavis Pharma, a Norwegian oncology company. 

Before joining Clavis, Mr. Hellebø headed up the global immunology franchise at UCB Pharma and before that was head of UK commercial operations at Novartis. He also held a number of senior commercial roles at Schering-Plough, including leading its US commercial operations in the areas of oncology, cardiovascular and hepatitis-C representing annual sales in excess of $2 billion. He holds an MBA from the IESE Business School, Barcelona, and a Bachelor of Business Administration from Hofstra University in the US. 

Olav currently serves on the Board of Antev, a UK-based private biotechnology company with a focus on prostate cancer. 

Stein Christian Mohn, Chairman at Cytovation said: “We are very pleased to welcome Olav to our Board of Directors. We believe that his extensive and broad-ranging experience in the industry will prove invaluable for the advancement of CyPep-1 and the continuing growth of the company as we continue to make excellent progress in our ongoing clinical program both in Europe and the US.” 

Olav Hellebø, added: “CyPep-1 has great potential as an innovative treatment for solid tumors where there is significant unmet medical need despite recent advances in cancer treatment. I look forward to working with the talented team at Cytovation to help bring this unique therapy to patients.” 

*** 

About Cytovation 

Cytovation ASA is a privately held, clinical stage immune-oncology company focused on the development of CyPep-1, a first-in-class immunotherapy targeting the cell membrane of tumor cells. 

CyPep-1 has a unique mechanism of action, specifically eliminating cancer cells by targeting the plasma membrane, releasing neo-antigens and inhibiting the WNT/B-catenin pathway. This dual mode of action promotes an inflammatory microenvironment and induces a tumor-specific immune response by in situ vaccination. 

The company is a spin-off from the University of Bergen (Norway), the city where it is headquartered. For more information, please visit www.cytovation.com. 

Contact Information 

Cytovation 

Federico Grego, Chief Operating Officer: contact@cytovation.com 

MEDiSTRAVA Consulting 

Frazer Hall / Mark Swallow / Evelyn McCormack: cytovation@medistrava.com