UPPSALA, Sweden, Feb. 21, 2002 (PRIMEZONE) -- Per Sundqvist, 35 years old, has been appointed new Chief Financial Officer at Q-Med in Sweden, where he replaces the present Chief Financial Officer Peter Hein, who is leaving Q-Med.
Peter Hein started at Q-Med in 1998 in order to build up the finance and financial control function before the listing of the company on the O- list of the Stockholm Stock Exchange in 1999.
- After more than three fantastically exciting and interesting years I am leaving Q-Med to take the next step in my life and thereby take on new challenges, says Peter Hein.
Per Sundqvist has broad experience of finance and financial control questions within the industry, where he has held senior positions at Amersham Biosciences and elsewhere. His most recent position was at Stoneridge Electronics AB, where he has been Chief Financial Officer and responsible for finance, financial control and IT, amongst other things. Per Sundqvist takes up his post at Q-Med on April 8.
- We are extremely grateful for the years that Peter has given us and respect his decision to leave the company. Per joins us with a broad platform of experience and a great deal of energy and we really look forward to our future collaboration, says Bengt Agerup, President of Q- Med.
Q-Med is a rapidly growing and profitable biotechnology/medical device company that develops, produces and markets medical implants. All products are based on the company's patented technology for the production of NASHA - Non-Animal Stabilized Hyaluronic Acid. Q-Med's operations focus on the four areas of Esthetics, Orthopedics, Uro- Gynecology, and Cell Therapy and Encapsulation. The products RESTYLANE, RESTYLANE Fine Lines and PERLANE are used for the filling out of lips and facial wrinkles and today account for the majority of sales. Development of MACROLANE for body contouring, for example breast augmentation, is ongoing. DUROLANE, Q-Med's product for the treatment of osteoarthritis of the knee joint, has been approved in Europe since May 2001. DEFLUX is a product which has been approved in Europe and the USA for the treatment of vesicoureteral reflux (malformation of the urinary bladder) in children. ZUIDEX for the treatment of stress urinary incontinence in women is estimated to be available in Europe in the middle of 2002. Since July 2000 Q-Med has owned a majority interest in the American biotechnology company Ixion Biotechnology, Inc., with research within cell therapy for diabetes. Q-Med today has almost 280 employees, with approximately 180 at the company's production facility and head office in Uppsala, 20 at Ixion and the remainder in wholly owned foreign sales companies. The Q-Med share was first listed on the O- list of the Stockholm Stock Exchange in December 1999.
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