Blue Cell Therapeutics, a Denmark-based biotech company developing 'off-the-shelf' allogeneic stem cell therapies for diseases where angiogenesis and nerve regeneration are beneficial, announced on Thursday the appointment of Olav Hellebo as chairman of its board of directors with immediate effect.

Hellebo has worked for over 30 years in pharmaceutical companies and biotechs. The company says that he has significant fundraising experience, having raised more than USD200m during his career, and he has also struck licensing deals and research collaborations with major companies including AstraZeneca, Takeda, Fosun, and Alnylam.

Dr Soren P. Sheikh MD, PhD, Blue Cell Therapeutics' chief executive officer, said: "Olav brings a wealth of knowledge and experience that will be instrumental to Blue Cell Therapeutics as we advance. His proven leadership across diverse teams and strategic planning expertise in multiple markets will be a huge asset. We look forward to working closely with Olav and the board as we advance our lead candidate, BlueC-231, for severe erectile dysfunction into Phase 1/2a clinical trials."

Hellebo currently serves as CEO of BerGenBio ASA, a clinical-stage biopharmaceutical company developing drugs for aggressive diseases. From 2014 to 2022 he was CEO of ReNeuron Group PLC, a clinical-stage company specialising in cell therapy for ophthalmic and neurology-related diseases; and from 2010 to 2013 he headed oncology-focused biotech Clavis Pharma ASA.

Hellebo currently serves on the boards of clinical stage immuno-oncology company Cytovation ASA, and clinical stage biopharmaceutical company, Antev Ltd, which specialises in urology and oncology treatments. From 2014 to 2019 he served on the board of Calliditas Therapeutics AB.