MolMed strengthens top management team with the appointment of Germano Carganico as General Manager

MolMed strengthens top management team with the appointment of Germano Carganico as General Manager


Milan (Italy), 24 November 2010 - MolMed S.p.A. (Milan:MLM) is pleased to announce the strengthening of its top management with the appointment of Germano Carganico as General Manager. Effective January 1, 2011, Germano Carganico will join the Chairman and CEO Claudio Bordignon and the current General Manager Marina Del Bue, with the specific objective of coordinating the final development stages and registration of MolMed's most advanced investigational therapeutics, as well as their market launch.


Claudio Bordignon commented: "We are proud of the opportunity to have such a high profile professional joining us. Germano Carganico brings a broad pharmaceutical industry experience, especially in regulatory affairs. He managed late stage product development through to regulatory approval for several new drugs. His appointment also confirms that MolMed is highly confident of the value and potential of its investigational drugs, now in advanced clinical development. It also highlights that we are determined to act according to the most appropriate timing towards the prospective market launch, either on our own or with partners".

Germano Carganico commented: "I'm very pleased of this appointment to the MolMed management team in a crucial and exciting moment for the Company's life. To be involved in the final phase of development of highly innovative projects with great therapeutic potential, such as NGR-hTNF and TK, represents for me a significant opportunity and an extraordinary challenge, which I take on with great enthusiasm".

Germano Carganico is currently General Manager of Fondazione Toscana Life Sciences. He previously held a number of responsibility positions, notably as Preclinical Development Director at Menarini Pharmaceutical Industries Group in Florence, where he also became Corporate Director Research & Development, which included responsibility for Global Regulatory Affairs. During his career he also gained significant experience in the market launch of pharmaceutical products. From 2003 to 2005 he was Chief Business Officer at Axxam Srl. He also contributed to the establishment of Regulatory Pharma Net Srl and of Pharma Quality Europe Srl.

To date, Germano Carganico does not hold any MolMed shares.

This press release is written in compliance with public disclosure obligations established by CONSOB (Italian securities & exchange commission) resolution no. 11971 of 14.5.1999 as subsequently amended.

About MolMed MolMed S.p.A. is a biotechnology company focused on research, development and clinical validation of novel anticancer therapies. MolMed's pipeline includes two novel therapeutics in clinical development: TK, a cell-based therapy enabling bone marrow transplants from partially compatible donors, in Phase III for high-risk leukaemias, and NGR-hTNF, a novel vascular targeting agent (VTA), in Phase III for malignant pleural mesothelioma and in Phase II in five more types of solid tumours: colorectal, small-cell lung, non-small-cell lung, liver and ovarian cancer. MolMed is headquartered at the San Raffaele Biomedical Science Park in Milan, Italy. The company's shares (Milan:MLM) are listed on the Milan Stock Exchange (Standard segment, class I) of the MTA managed by Borsa Italiana.

For further information, please contact:

Holger Neecke Director Business Development & Investor Relations MolMed S.p.A. phone: +39 02 21277.205 fax: +39 02 21277.325 e-mail: [email protected]<>

Elena Lungagnani Communication Manager MolMed S.p.A. phone: +39 02 21277.207 fax: +39 02 21277.325 e-mail: [email protected]<>

DISCLAIMER This press release may contain certain forward-looking statements. Although the company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, including scientific, business, economic and financial factors, which could cause actual results to differ materially from those anticipated in the forward-looking statements. The company assumes no responsibility to update forward-looking statements or adapt them to future events or developments. This document does not constitute an offer or invitation to subscribe or purchase any securities of MolMed S.p.A.