May 15, 2018
Lytix Biopharma announces changes in the board of directors

Due to changes in the ownership structure of Lytix Biopharma, and the conversion into a private limited liability company, the board proposed that a new board of directors was elected at the extraordinary general meeting April 24th 2018. The new board consists of the following:

* Espen Johnsen (chairman)
* Gert W. Munthe
* Debasish F. Roychowdhury
* Bernt Endrerud

The newcomers in the board are Espen Johnsen and Bernt Endrerud.

Mr. Johnsen is a serial entrepreneur and has a long track record of building successful businesses.  He has broad experience in turning around ailing businesses operating in fast changing and competitive environment, he is actively managing several successful investment portfolios and holds several board positions. Johnsen joined Lytix Biopharma as a shareholder already in 2004 and has followed the company closely.

Mr. Endrerud is an active innovator and investor. He has established and led several successful businesses and has more than 30 years of experience as a business owner and developer. Endrerud is the owner of Care Holding AS, which is one of the main shareholders of Lytix Biopharma.

Commenting om his appointment as Chairman, Espen Johnsen said: Lytix is now entering another exciting phase as we are going to bring the company from science to business. I look forward to using my expertise in restructuring of companies to ensure a successful future for Lytix, as well as working together with the board, management and the rest of the team in the time to come. We have already made significant cost reductions, raised more capital and our focus now is to create a laser-sharp strategy and have speed in implementing this.