Trygg Pharma appoints Terje Bakken as CEO

April 4, 2011 11:01

Trygg Pharma Holding AS announced that its Board of Directors has appointed Terje Bakken (50) as CEO. Bakken comes from the position as SVP Head of Supply and Trade in Yara ASA. He has served in various management roles in Norsk Hydro/Yara since 1994, and he has been a member of Yara's executive management team since 2004, reports with reference to Aker Biomarine.

Terje Bakken replaces Aaron Kramer, who headed the development activities that led to Trygg Pharma for more than two years as EVP Pharmaceuticals of Aker BioMarine. Kramer has been the CEO of Trygg Pharma since its inception, including the transitional period since the establishment of the joint venture between Aker BioMarine and Lindsay Goldberg in November 2010. Kramer will continue to serve as CEO of the company's U.S. subsidiary, Trygg Pharma, Inc., as well as the EVP of Pharmaceuticals and Business Development of the group.

Egil Bodd, Chairman of the Board, stated, "We are delighted to welcome Terje Bakken to our team.

Terje has a track record of world class leadership and entrepreneurship from Yara and brings more than 20 years of experience from industrial marketing and sales, including important concept developments and solutions within the nitrogen industry. I look forward to see him provide his leadership when Trygg Pharma now pursues its vision of becoming the world's premier omega‐3 company. Aaron Kramer, who has done a tremendous job in heading the company from the United States during the interim phase, will continue as a key member of Trygg Pharma's executive management."

About Trygg Pharma

Trygg Pharma is a Norwegian‐based 50/50 joint venture between Aker BioMarine ASA and Lindsay Goldberg LLC. Trygg Pharma is a leading manufacturer of marine‐based omega‐3 EPA/DHA concentrates for nutraceutical and pharmaceutical applications. EPAX, a subsidiary of Trygg Pharma, is a long‐standing leader in marine‐based omega‐3 EPA/DHA fatty acid concentrates for nutraceutical manufacturers and marketers, with a focus on the high concentrate segment. Trygg Pharma is completing a clinical Phase III study on an omega‐3 based drug candidate for hypertriglyceridemia.

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