Lipum strengthens the board with commercial expertise
Lipum has chosen to strengthen the Board of Directors with Åsa Magnusson, who has more than 30 years of experience in the pharmaceutical industry and expertise in commercialisation. BioStock reached out to Åsa to find out more about her background and what she hopes to bring to Lipum’s board.
Lipum is developing a biological drug candidate, SOL-116, with the goal of offering a more effective and safer treatment for chronic inflammatory diseases. The company is in the final stage of the clinical phase I study with SOL-116, which evaluates the drug candidate’s safety and pharmacokinetics in both healthy volunteers and patients with rheumatoid arthritis (RA).
Progress in phase I study
Recently, Lipum announced that the multi-dose part of the study is completed. Interim data show that SOL-116 remains safe, without any serious side effects, and has desirable and predictable pharmacokinetics. When the phase I study is completed and the final results have been reported, the next step in the clinical development awaits; a phase II study to evaluate the efficacy on patients with RA.
Sharpens the commercial strategy with new board member
As the clinical development of SOL-116 advances, Lipum is strengthening its Board of Directors in preparation for the upcoming stages. At the Annual General Meeting in late May, Åsa Magnusson was elected as new board member. Åsa brings extensive experience in international commercialisation within the life science industry, having worked with both publicly listed and privately owned biotech and pharma companies.
In Åsa’s current role as Chief Engagement and Commercial Officer at Vicore Pharma, she utilizes her expertise and network to develop and implement the company’s go-to-market strategy. She has previously been Nordics General Manager at Arvelle and held commercial roles at Alexion and Actelion.
– She has a proven track record of leading cross-functional teams at Arvelle, Alexion and Actelion, preparing for and launching high value medicines by securing market access to specialist and orphan drugs in competitive markets, Lipum writes on its website.
Åsa Magnusson regarding her background
BioStock reached out to Åsa Magnusson to learn more about her experiences and expectations in her new role as a board member of Lipum.
What attracted you to join Lipum’s Board of Directors?
– First and foremost, I believe in the fundamental scientific discovery behind SOL-116 and its potential to address the significant unmet medical need in chronic inflammatory diseases. As I got to know the other members of the board and the company, I became even more interested in learning more and understanding how I could contribute and add value.
Which aspects of your background and experience do you think could be particularly valuable for Lipum?
– My experience in preparing for and executing drug launches. During that work, I often wished that certain details had been considered much earlier in the clinical development process, details that are important for commercial success. I find these insights practically useful now in my work at Vicore Pharma, where we are preparing for a phase IIb study. Being a commercial force on the board could be particularly valuable in Lipum’s current development stage.
Do you have any initial thoughts on how Lipum’s market and commercialisation strategy for SOL-116 could be optimized?
– Continuing and strengthening the work led by CEO Ola Sandborgh in creating a business plan for SOL-116. The company needs to be able to describe how the product will be positioned in a competitive market and how to get there. My ambition is to both support and challenge Ola in this important work.
»The company needs to be able to describe how the product will be positioned in a competitive market and how to get there. My ambition is to both support and challenge Ola in this important work.«
You were connected to Lipum through SelectionF, which bridges the gap between competent women and boards. How have they helped you to strengthen your skills and find the right board assignment?
– Through SelectionF, I have access to their professional and structured process and network. With the ambition to increase the number of highly qualified women in the boardroom, they organize workshops where participants work on their CVs to clarify how their skills can add value in board work. For me, it was largely about identifying the type of company that would be suitable for a first professional board assignment. The educational and networking sessions organized by SelectionF are great opportunities to stay updated and energized to continue adding value as a board member.
What do you think will be important for Lipum moving forward?
– Short-term value creation: completing the phase I study with SOL-116 so that the continued clinical development with a proof-of-concept study can start as planned. In a longer-term: presenting the business plan for SOL-116.
The content of BioStock’s news and analyses is independent but the work of BioStock is to a certain degree financed by life science companies. The above article concerns a company from which BioStock has received financing.
