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MENAFN Press - 13/05/2014
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(MENAFN Press) Promethera(R) Biosciences, an innovative orphan drug therapy company that develops stem cell therapies for the treatment of liver diseases, today announces that Frank Hazevoets has joined the company to lead its finance and administration team. Frank joined Promethera Biosciences SA on May 1, 2014 as chief financial officer (CFO). He will be based at the head office in Mont-Saint-Guibert, Belgium.

Frank Hazevoets is a highly experienced senior financial executive with over twenty five years international business experience. He trained at the Catholic University of Leuven (KUL) in Belgium as a commercial engineer and also obtained a masters degree in Artificial Intelligence and Cognitive Science. He has worked in leading positions in corporate finance and investment banking, strategy and business development. During his six years as CFO at Tigenix, he supported the company in its funding and growth strategy and helped them to obtain the first European marketing authorization for cell-based medicinal products in Europe.

"We are delighted that Frank is joining Promethera Biosciences as CFO," said Eric Halioua, chief executive officer. "He is going to play a key role in assisting our future development. Frank Hazevoets has the experience and expertise to strengthen the management team and to prepare the next strategic options at Promethera Biosciences. He will build the finance department to further support the future growth of Promethera(R)."

"I am really looking forward to working with the experienced team at Promethera and to sharing my expertise with them," said Frank Hazevoets, chief financial officer of Promethera Biosciences. "This company has the potential to become one of the leading orphan drug companies in the world. Many patients will benefit from their lead in developing and commercializing innovative cell and orphan therapy products based on proprietary technologies."

About Promethera Biosciences:

Promethera Biosciences is a pharmaceutical company that develops innovative therapies for the treatment of orphan liver diseases. It is currently developing two products based on human liver progenitor cells:

Promethera(R) HepaStem is a cell therapy product based on the use of allogeneic stem cells isolated from healthy adult human livers (Heterologous Human Adult Liver Progenitor Cells, HHALPC). These cells can be used to treat a wide variety of liver diseases, from rare inborn metabolic diseases (which can be classified as 'orphan diseases' and mainly affecting children), to acquired deficiencies affecting adults, such as acute-on chronic liver diseases or liver fibrosis. HepaStem is currently tested in phase I/II clinical trial in Europe and Israel for the treatment of two orphan indications.

Promethera(R) H2Screen and H3Screen is a non-therapeutic in vitro product, based on a recently discovered and patented liver progenitor cell type, isolated from healthy adult human livers. This novel biotechnology tool is designed for early preclinical pharmaco-toxicological evaluation of drug candidates and new chemical entities.

Promethera Biosciences is a spin-off of the Universite Catholique de Louvain (UCL), founded in 2009. The company emerged from the lab of Professor Etienne Sokal, a leading expert in pediatric liver disease and cell. Promethera Biosciences is located in Mont-Saint-Guibert (Belgium).

Since its creation in 2009, Promethera Biosciences has raised EUR 34 million in two financial rounds, in capital, grants and loans from the Walloon Region. The main investors are Vesalius Biocapital, Mitsui Global Investment, BI Venture Fund, Shire and SRIW.

Promethera Biosciences has 47 employees led by an experienced management team.

For more information, please visit http://www.promethera.com

About Promethera(R)



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