NEWS

Contera Pharma, subsidiary of Bukwang, elected specialists in global CNS area

- CEO : Thomas N. Sager , the former development expert of lundbeck

- Head of BD : Anders Brandt Elvang, the former BD executive of lundbeck

- Chief Science Office : Kenneth Vielsted Christensen



Contera Pharma, subsidiary of Bukwang, announced that it elected Thomas N. Sager as CEO and other key executives.


Thomas N. Sager entered lundbeck which is a specialized company in CNS. He started in the drug discovery department and was the Vice President and Head of Business Development & Licensing before joining Contera Pharma.


Contera Pharma also elected prof. Anders Brandt Elvang who was a former Senior Director, Business development & strategy of lundbeck as a Head of BD, and prof. Kenneth Vielsted Christensen who was a former Research Program Director of Servier(France) as a Chief Science Office.


The company has several programs in its development pipelines, including the lead program, JM-010, which is currently under development for treating dyskinesia in Parkinson’s Disease. It already raised 51 billion KRW in Series B financing round to go public on the KOSDAQ. Proceed from the financing will be used to accelerate the currently ongoing US and EU phase 2 clinical studies in Parkinson’s disease dyskinesia. In addition, it will also be used to accelerate the preparation for Contera listing in the KOSDAQ market.


Since last year series A financing, Denmark has been designated as a qualified country for listing and the listing requirements have now been established. In addition, Contera has also established a Korean Branch Office and core R&D personnels including porf. Kwon Min Chang have also been recruited and strengthened to fastly progress the clinical development activities and to prepare the listing.


Bukwang’s representative said “Contera is a company with significant competitive and technological advantage. It is currently having ongoing phase 2 clinical study not only in the EU but also in the US. In addition, the preparation for the Contera listing has been very positive and on a right track so far. All of these factors play an important key role in the success of current recruiting.”


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