GOTHENBURG, Sweden, Nov. 28, 2022 /PRNewswire/ -- Isofol Medical AB (publ) (Nasdaq Stockholm: ISOFOL), announced today that Chief Executive Officer Dr. Ulf Jungnelius M.D. and Isofol's Board of Directors have agreed that Ulf will step down as CEO of Isofol on June 1, 2023. Isofol's Board of Directors will take a decision regarding a new CEO once the company's future has been determined.

The information in the press release is intended for investors.

Dr. Ulf Jungnelius M.D. and Isofol have agreed that Ulf will leave his position as CEO of Isofol Medical on June 1, 2023. Until then he will be fully focused in leading Isofol as it completes the closure of the AGENT and to assess possible future paths forward for the Company.

"As CEO, Ulf brought a valuable know-how and ability to oversee a large phase III clinical trial in oncology. We would like to thank Ulf for his hard work and dedication in taking the AGENT study to conclusive although disappointing results," said Jan Törnell, Chairman of Isofol Board of Directors.

"Drug development is always a high-risk enterprise, but competent teams and dedicated shareholders are needed to make progress in fighting cancer. I would like to thank Isofol's shareholders, staff and board for their trust and confidence in allowing me to lead Isofol's effective and decisive completed phase III study," said Ulf Jungnelius.

For further information, please contact

Jan Törnell, chairman of the board
E-mail: jan.tornell@innoext.se

Isofol Medical AB (publ)
Jarl Ulf Jungnelius, M.D., CEO
E-mail: jungnelius@isofolmedical.com
Telephone: +46 709-16 89 55

This is information that Isofol Medical AB is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact person set out above, at 17:55 CET on November 28, 2022.

About Isofol Medical AB (publ)

Isofol Medical AB (publ) is a clinical-stage biotechnology company that is developing and improving the current standard treatment for patients suffering from cancer by increasing treatment efficacy through the use of cytostatics. Isofol is focused on developing a drug for first-line treatment of advanced colorectal cancer (mCRC) and is trying to improve the current clinical practice by realizing the full strength of 5-FU with the addition of arfolitixorin. Isofol has an exclusive global licensing agreement with Merck & Cie in Schaffhausen, Germany to develop and commercialize arfolitixorin in oncology. Isofol Medical AB (publ) is traded on Nasdaq Stockholm.

www.isofolmedical.com

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SOURCE Isofol Medical AB (publ)