Edison Investment Research - Bergenbio ASA (BGBIO) BerGenBio - Martin Olin succeeds Richard Godfrey as CEO

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Edison Investment Research

Sean Conroy

BerGenBio - Martin Olin succeeds Richard Godfrey as CEO

BerGenBio (BGBIO) has announced the appointment of a new chief executive officer (CEO), Martin Olin, with effect from 8 September 2021. Martin Olin has more than two decades of executive experience in the pharmaceutical and biotechnology industry and previously served as CEO of Symphogen, a clinical-stage biotech developing monoclonal antibody based treatments for a variety of cancers, prior to its acquisition by Servier in 2020. While the timing of this announcement does come as a surprise, we do not expect any disruptions to the current business strategy which the board has always been supportive of. Our valuation of BGBIO is unchanged at NOK4.91bn or NOK 55.8/share.

24/08/2021 2 EN

Underlying

Bergenbio ASA

BerGenBio is a clinical stage biopharmaceutical company focused on developing innovative drugs for aggressive, drug resistant cancers. Co.'s lead product, BGB324, is a selective, potent and orally available small molecule AXL inhibitor. It is in Phase II clinical development, as a single agent and in combination with marketed immuno-oncology drugs, in three cancer indications with potential: Acute myeloid leukaemia; Advanced non-small-cell lung cancer and Triple negative breast cancer. Co. is also developing a diversified pre-clinical pipeline of selective AXL inhibitors, including biologics and small molecules.

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NO0010650013 Oslo Bors Norway

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Sean Conroy

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BerGenBio - Martin Olin succeeds Richard Godfrey as CEO

BerGenBio (No_rec, TP: NOK) - Decision to end BGBC016 trial – recommendation and target price withdrawn

BerGenBio (Sell, TP: NOK5.00) - Decision to end BGBC016 trial

BerGenBio (Sell, TP: NOK5.00) - Q2 report

Manx Financial Group - Termination of coverage

musicMagpie - Termination of coverage

Topps Tiles - Accelerating growth through Q125

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