Active Biotech in Brief

About

We develop innovative medicines for diseases with significant medical needs, such as blood cancer and inflammatory eye diseases. Our project portfolio includes both small, orally and topically active immunomodulatory molecules, as well as antibody-based immunotherapy.

Active Biotech is based in Lund, Sweden, and was founded in 1998 as a spin-off from Pharmacia & Upjohn. The company’s share is listed and traded on Nasdaq Stockholm Small Cap. We have core expertise in cancer and inflammatory diseases, as well as a skilled team with extensive experience in drug development across the entire clinical development chain.

The project portfolio consists of:

  • Tasquinimod, which is being developed for the treatment of hematological cancers, is in clinical Phase Ib/IIa development for the treatment of myelofibrosis.
  • Laquinimod, which is being developed for the treatment of inflammatory eye diseases, has an eye drop formulation that has been documented as safe and shown to enable distribution of laquinimod to the posterior parts of the eye in a recently completed clinical Phase I programme.
  • Naptumomab estafenatox (Naptumomab), licensed to NeoTX Therapeutics Ltd., is in clinical development for the treatment of solid tumours. A Phase Ib/II programme in selected solid tumours is ongoing.

Management

Management

Active Biotech management team consists of Helen Tuvesson, President & CEO, Hans Kolam, Chief Financial Officer and Erik Vahtola, Chief Medical Officer.

  • Helén Tuvesson

    President & CEO

    President & CEO since 2017

    Born: 1962

    Shareholding in the Company: 2,586,001 shares

    Employed by the company since 1998. Helén Tuvesson has a PhD in cell and molecular biology in medical science from Lund University. Helén has more than 25 years of experience in leading drug development in senior positions within preclinical and clinical development at Pharmacia and Active Biotech, including as Chief Scientific Officer for 6 years at Active Biotech. In this role, Helén was responsible for the operational research activities within the company as well as the company’s project portfolio in late stage clinical development in neurodegenerative diseases and cancer indications.

    Other assignments:

    Helén is a board member of Mendus AB (formerly Immunicum AB)

  • Hans Kolam

    Chief Financial Officer

    Chief Financial Officer since 2000

    Born: 1951

    Shareholding in the Company: 1,847,406 shares (of which 63,636 shares via related parties)

    Employed by the company since 2000. Hans Kolam has a BSc in Business Administration from Uppsala University. Hans has more than 40 years of experience from the pharmaceutical industry with leading financial positions during the years 1979-2000 at Pharmacia. Hans also has extensive experience from investor relations and business development.

  • Erik Vahtola

    Chief Medical Officer

    Chief Medical Officer since 2022

    Born: 1976

    Shareholding in the Company: 969,061 shares

    Employed by the company since January, 2022. Erik is a Medical Doctor (MD) with experience from working as a specializing physician in oncology at the Helsinki University Central Hospital, Finland, and he holds a PhD in pharmacology and an MSc in cell biology from Åbo Akademi University, Finland. Erik has more than 10 years of experience altogether from regulatory authority and pharma industry positions within clinical development and medical affairs. Before joining Active Biotech, he has worked at Bayer Pharmaceuticals, Orion Corporation and Roche Pharma, Finland.

The Board

Board of Directors

The Board of Directors manages the company on behalf of the Shareholders.

  • Michael Shalmi

    Chairman of the Board

    Chairman since 2019

    Born: 1965

    Shareholding in the Company: 44,145,603 shares

    Education: Physician from University of Copenhagen and obtained his MBA following studies at Scandinavian International Management Institute in Copenhagen, Denmark.

    Other assignments:

    CEO and owner of Aligned Clinical & Management Services, Shalmi Consulting ApS, Shalmi Invest ApS and Shalmi Holding ApS. CEO of P/S Momentum Energy Jutlandia, K/S Momentum Energy Jutlandia Development, K/S Momentum Energy Hanstholm, Momentum Energy Karrebæk Holding, Momentum Energy Karrebæk ApS and Momentum Energy Selandia ApS. Chairman of the board of Momentum Gruppen A/S, Momentum Energy Holding A/S and Curexsys GmbH. Board member of Momentum Energy Group A/S. Chairman of the Board, Curexsys GmbH, Germany.

    Previous assignments (last five years):

    Board member of Evotec AG and Managing Director and Head of Principal Investments of Novo Holdings A/S.

  • Aleksandar Danilovski

    Board Member

    Board member since 2020

    Born: 1974

    Shareholding in the Company: 1,571,538 shares

    Education: Ph.D. in Chemistry (summa cum laude) from Cambridge University, United Kingdom and University of Zagreb, Croatia.

    Other assignments:

    Founder and Managing Partner in DALISCO d.o.o., Member of Advisory Board in Serovia Specialty Pharma Ltd., Member of Advisory Board in OneSource Specialty Pharma Ltd., Member of Scientific Advisory Board (SAB) in Bugworks Research Inc., Member of Scientific Advisory Board (SAB) in Centauri Therapeutics Ltd., Member of Scientific Advisory Board (SAB) of Belupo d.d.

    Previous assignments (last five years):

    Member of the Scientific Selection Board (SSB) of Novo Holdings REPAIR Impact Fund, Member of Board of Directors of Pharmaero ApS, Chief Scientific Officer (CSO) at Xellia Pharmaceuticals, Head of European R&D for Barr Laboratories Inc. and Member of Management Bord of PLIVA Pharmaceuticals d.d.

  • Peter Thelin

    Board Member

    Board member since 2011

    Born: 1956

    Shareholding in the Company: 414,299,915 shares (privately and through companies)

    Education: Graduate of Stockholm School of Economics

    Other assignments:

    Chairman of the board of Brummer Investor Relations AB. Board member of B & P Fund services Aktiebolag, Brummer & Partners AB, Brummer Multi-Strategy AB, ELC Fastigheter AB, East Bay AB, Sjunda Gård AB, Sjuenda Holding AB, Sjunda Jordbruk AB, Sjunda Persbo Holding AB and S:ta Ragnhildgymnasiet AB.

    Previous assignments (last five years):

    CEO of Carve Capital AB, Chairman of the board of directors of Jemtia AB, SRE Högfors AB and Acrux Entreprenad AB and Board member of CPB Energy AB, Valot Invest Sweden AB, Henvålens Fjällgård AB, Psoriasis + Creams Sweden AB and Järna Mejeri AB.

Corporate Governance

The Annual General Meeting is Active Biotech’s highest decision-making body. At the Annual General Meeting, which is held not more than six months after the close of the fiscal year, the annual accounts for the preceding year are approved, the Board of Directors is elected, auditors are elected when necessary and statutory matters are addressed. Between General Meetings, the Board of Directors is the company’s highest decision-making body.

To Corporate Governance

Goals and Strategy

Our strategy guides us in our daily work.

Business Concept

Active Biotech’s business concept is to utilize knowledge of the immune system to develop pharmaceuticals in therapeutic areas in which an unmet medical need can be addressed to generate an attractive shareholders return.

Goal

Active Biotech’s goal is to develop efficacious and safe treatment for indications with high medical need within hematological cancers and inflammatory eye disorders.

Business Strategy

The key components of the company’s business strategy are to:

  • Leverage the extensive knowledge and previously generated documentation of our wholly owned clinical assets to develop novel treatments
  • Advance clinical development through partnership with leading scientific institutions for a cost-effective and value-growth development
  • Secure rights to data for regulatory and commercial useLimit internal costs and overheads by use of external expertise within targeted disease areas
  • Protect know-how through an active patent strategy
  • Create financial sustainability through commercial partnerships with support from existing and new shareholders