Orexo appoints Edward Kim, M.D., as new Chief Medical Officer

Rhea-AI Summary

Orexo AB (OTCQX: ORXOY) has appointed Dr. Edward (Ed) Kim as the new Chief Medical Officer, succeeding Dr. Michael Sumner. Ed Kim, who has a strong background in psychiatry and over 16 years in the pharmaceutical industry, will lead US Medical Affairs and enhance collaboration with Orexo’s Swedish team. His focus will be on innovative treatments for substance use disorders and mental health. This leadership change highlights Orexo’s commitment to developing effective solutions in a critical therapeutic area.

Positive

• Appointment of Ed Kim is expected to enhance strategic direction in drug development for substance use disorders.
• Ed Kim brings extensive industry experience which may strengthen Orexo's market position.

Negative

• None.

UPPSALA, Sweden, Oct. 26, 2022 /PRNewswire/ -- Orexo AB (publ.), (STO:ORX) (OTCQX:ORXOY), today welcomes Edward (Ed) Kim, M.D., as new Chief Medical Officer (CMO). Ed Kim will succeed Michael Sumner, M.D., who has held this role since 2013. He is located at Orexo´s US subsidiary in Morristown, New Jersey.

Ed Kim´s primary responsibilities will include leading the US Medical Affairs Department concentrating on commercial products in pharmaceuticals and digital therapeutics. Additionally, he will work closely with the Swedish pharmaceutical development team to further drive innovative treatment solutions based on Orexo's amorphOX® platform, with a focus on new innovative treatments for patients suffering from substance use disorders and other mental health issues.

Ed Kim began his career with 13 years of clinical practice as a board certified psychiatrist, including several years in a senior leadership role with a large behavioral health system. He then acquired more than 16 years' experience within the pharmaceutical industry, most recently as Vice President and Head of Medical Affairs at Biohaven Pharmaceuticals. His proven track record is derived from extensive experience as a clinician, leader, and scientist across multiple senior positions within medical affairs, health economics and clinical development in psychiatry and the neuroscience therapeutic area.  

Nikolaj Sorensen, CEO & President of Orexo AB, said: "I am delighted to welcome Ed to Orexo. His experience in psychiatry and public health will bring extensive knowledge and insights to our core therapeutic area in substance use disorders and mental health. Additionally, he will contribute to broaden our network within this growing and important treatment space. I also want to thank Michael Sumner for his contributions and leadership to Orexo and in improving the lives of people who are dependent on opioids."

For further information, please contact:

Orexo AB (publ.)

Nikolaj Sørensen, President and CEO  Tel: +46 (0)18 780 88
ir@orexo.com

Lena Wange, IR & Communications Director 
Tel: +46 (0)18 780 88 00  00 
E-mail: ir@orexo.com 

About Orexo

Orexo develops improved pharmaceuticals and digital therapies addressing unmet needs within the growing space of substance use disorders and mental health. The products are commercialized by Orexo in the US or via partners worldwide. The main market today is the American market for buprenorphine/naloxone products, where Orexo commercializes its lead product ZUBSOLV® for treatment of opioid use disorder. Total net sales for 2021 amounted to SEK 565 million and the number of employees was 121. Orexo is listed on the Nasdaq Stockholm Mid Cap (ORX) and is available as ADRs on OTCQX (ORXOY) in the US. The company is headquartered in Uppsala, Sweden, where research and development activities are performed.

For more information about Orexo please visit, www.orexo.com. You can also follow Orexo on Twitter, @orexoabpubl, LinkedIn and YouTube.

The information was submitted for publication at 8.00 CET on October 26, 2022. 

The following files are available for download:

https://mb.cision.com/Main/694/3654792/1643477.pdf

Orexo Press Release Orexo appoints Edward Kim MD as new CMO_Published October 26 2022

View original content:https://www.prnewswire.com/news-releases/orexo-appoints-edward-kim-md-as-new-chief-medical-officer-301659519.html

SOURCE Orexo

FAQ

Who is the new Chief Medical Officer of Orexo?

Dr. Edward (Ed) Kim has been appointed as the new Chief Medical Officer of Orexo.

What experience does Ed Kim bring to Orexo?

Ed Kim has 13 years of clinical practice as a psychiatrist and over 16 years in the pharmaceutical industry, including a senior role at Biohaven Pharmaceuticals.

What will Ed Kim's responsibilities be at Orexo?

He will lead the US Medical Affairs Department and collaborate with the Swedish team on innovative treatments for substance use disorders and mental health.

Why did Orexo change its Chief Medical Officer?

The change is aimed at enhancing leadership and strategic direction in developing treatments for substance use disorders.

What impact is Ed Kim's appointment expected to have on Orexo?

His extensive experience may lead to improved product strategies and strengthen Orexo's presence in the mental health treatment market.