Kjell was the CEO of Cyxone from when the company was founded in 2015 until 2019. He has thus good knowledge of Cyxone's projects, which facilitates a seamless change of management.

Kjell holds a PhD in medical science, has held management positions in AstraZeneca R&D including project inlicensing from biotech. Since 2001 he has worked in biotech and with corporate financing in Europe and North America.

"I and the board that took office in May 2023 have been strengthened in our view that there is considerable value in the company's two lead projects, and we are looking forward to realizing this with Kjell Stenberg at the helm and in close cooperation with our advisor Annika Espander (Asperion). I would also like to thank Carl-Magnus Högerkorp for his contributions to Cyxone since 2021", says Michael Oredsson, chairman of the board of Cyxone.

"I am very pleased to be given the opportunity to lead the development of the company's two drug candidates together with the Cyxone team. It is a privilege to be able to contribute to realizing the high potential value of the company's two projects, rabeximod and T20K. I will with high priority continue the development of rabeximod and its new salt formulation with initial priority on patients who don't respond well to biological disease modifying drugs, so called bioDMARDs. In parallel, we will also develop a clear plan for how to best optimize the value of our exciting T20K project in MS. Both projects are very interesting, and I see great possibilities to create great value for our shareholders in a cost-effective way", says Kjell Stenberg.

Contact

Michael Oredsson, Chairman of the Board
Tel: +32 477026144
Email: michaeloredsson@gmail.com

This information is information that Cyxone AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above on 22 April 2024.

About Cyxone

Cyxone AB (publ) (Nasdaq First North Growth Market: CYXO) develops disease modifying therapies for diseases such as rheumatoid arthritis and multiple sclerosis. Rabeximod is a Phase 2 candidate drug being evaluated for the management of rheumatoid arthritis. T20K is a Phase 1 candidate drug for treatment of multiple sclerosis. Certified Adviser is FNCA Sweden AB. For more information, please visit www.cyxone.com