Press release

Oncopeptides Announce New Chairman of the Board

April 19, 2010

STOCKHOLM, April 19, 2010 – Oncopeptides AB, today announced that Alan Hulme was elected Chairman of the Board at the statutory annual meeting. Mr Hulme has over 30 years experience in the life science business and wide experience in many sectors and geographic locations.

Alan Hulme has been involved in the development of many businesses within the life sciences sector – covering biotechnology, diagnostics and medical devices – and, operating from his base in London, has been engaged in a range of international corporate development activities with venture backed companies in the sector.

“We are fortunate to have Alan as the Chairman of the Board and I look forward to his contribution to the development of the company” says Dr Jack Spira CEO of Oncopeptides AB,

Conny Bogentoft, CEO of Karolinska Development adds “Alan’s vast experience in business development will be of great value to the Company as it now enters into later development phases. This will help Oncopeptides fulfill its goals, which will further strengthen the Karolinska Development portfolio.”

“With personal experience of working with Alan Hulme, I am sure his appointment will promote the international visualization in building the assets of the Company”, says Jonas Brambeck, Investment Manager, Industrifonden.

About Oncopeptides AB
Oncopeptides is a privately held company developing pharmaceuticals to treat cancer. The Company has proprietary technology based on creating pro-drugs with increased efficacy of already known compounds. The lead substance, called J1, is presently in a phase IIa clinical trial. Oncopeptides is owned by Karolinska Development, Industrifonden, and founders.

About Karolinska Development AB
Karolinska Development manages one of the largest portfolios of life science companies in Europe. Using a unique, highly cost efficient business model, the management team guides the commercialization of world-class life science innovations, helping to shape the next generation pharmaceutical industry. Since 2003, Karolinska Development has built a portfolio of some 40 companies; among the Company’s projects 12 compounds are undergoing clinical trials. The portfolio also includes a total of 21 potential first in class products.