Cellectricon AB Names New CEO

Cellectricon AB Names New CEO

4/29/2008

GOTHENBURG, Sweden, April 29 -- Cellectricon, a leading provider of screening solutions for drug discovery, announced today that its board of directors has appointed Jonas Ohlsson as the company's Chief Executive Officer. Mr. Ohlsson brings a solid and highly relevant track record to Cellectricon as the company now enters a phase of rapid expansion. During 2008-2009 Cellectricon will launch two large-scale screening systems: revolutionizing pre-clinical pharmaceutical development.

Jonas Ohlsson, former CEO at Mentice AB, has extensive experience of the biotech industry and has held executive positions at PE Applied Biosystems, Kovalent AB and AstraZeneca. Significantly, Mr. Ohlsson previously guided Mentice through a similar growth period to the one that Cellectricon now enters.

Dr. Mattias Karlsson, former acting CEO of Cellectricon, has been appointed Chief Technical Officer (CTO). Dr. Karlsson will, in this new role, focus on managing the introduction of Cellectricon's new and enabling screening systems.

Cellectricon's Chairman Axel Broms said: "The board is convinced that these appointments will secure the continued successful development of Cellectricon and strengthen the capacity as the Company is rapidly increasing its global businesses. It is with great joy we welcome Jonas Ohlsson to Cellectricon."

Jonas Ohlsson added: "Cellectricon is a remarkable company with strong customer validation and well-earned reputation for providing groundbreaking products to the pharmaceutical and biotechnology industries. I'm thrilled with the opportunity to drive its continued rapid development and expansion as the company is rolling out two screening systems developed in close collaboration with the pharmaceutical industry."

About Cellectricon

Cellectricon AB, a Swedish biotech company, successfully provides groundbreaking products to the pharmaceutical and biotechnology industries. Cellectricon's products address critical bottlenecks in the drug discovery process and have been adopted by top-reference customers, including nine of the top ten pharmaceutical companies. In 2007 the company increased its revenue by almost 50%. In April 2008 Cellectricon launched the first of their large-scale screening systems, Cellaxess®HT, developed in close collaboration with one of the world's largest pharmaceutical companies. Cellaxess®HT is the only system on the market that, enables the large-scale delivery of genetic material to a broad range of difficult to transfect cell types, and that is tailor made for high throughput RNAi screening. Cellectricon's forthcoming products address a market that is estimated to be $1.4 US billion by 2010.

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