Charles J. Casamento Joins Osteologix as Chief Executive Officer

Charles J. Casamento has joined the company as CEO, President and Director.

San Francisco, CA (PRWEB) December 2, 2004 -- Osteologix, Inc. and Osteologix A/S today announced that Charles J. Casamento has joined the company as CEO, President and Director.

Chuck Casamento has a strong track record in the pharmaceutical and biotech industries having been CEO for Interneuron and RiboGene, which later became Questcor Pharmaceuticals, both of which he took public, as well as holding executive positions in Sandoz, Roche, Johnson & Johnson, American Hospital Supply Corporation and Genzyme. Interneuron reached a peak valuation of $1.6 Billion based on a major pharmaceutical license agreement with American Home Products and the submission to FDA of a major New Drug Application which was assembled during his tenure. Mr. Casamento holds an MBA and a B.Sc. (Pharm) and is a registered pharmacist.

We are pleased to have attracted the caliber of senior management and entrepreneurial skills that Chuck Casamento represents, says chairman of the board, Klaus Eldrup-Joergensen, MD. His joining is an important addition to Osteologix and further validates the business opportunity that the company is pursuing."

Christian Hansen, PhD, co-founder and member of the board of Osteologix, and partner at Nordic Biotech, which is the principle investor in and shareholder of Osteologix, adds, From the inception, the company has focused on rapid entry into later stage development of drugs for treating diseases of bone and cartilage. Mr. Casamentos experience is expected to make a strong impact on the growth of the company, in terms of business development, financing and leadership."

I was intrigued by the lead compounds of Osteologix and the exceptional value that they can come to represent in the treatment of bone diseases, such as osteoporosis," says Chuck Casamento. With my long background in building late stage biotech companies, combined with the anticipated effectiveness of the companys future products and the large market for diseases such as osteoporosis, I feel strongly about the commercial outlook of Osteologix."

Chuck Casamento will be based in the Osteologix, Inc. offices in San Francisco, CA.

Contact Information:

Charles J. Casamento

Chief Executive Officer

(415) 955 - 2726

E-mail casamento@osteologix.com

Dian Griesel and Janet Vasquez

Investor Relations Group

(212) 825 - 3210

E-mail jvasquez@investorrelationsgroup.com (US Contact)

Klaus Eldrup Joergensen

Chairman of the Board

+45 40602087

About Osteologix A/S: (www.osteologix.com )

Osteologix is a San Francisco and Copenhagen based company, focused on the pre-clinical and clinical development of pharmaceutical products for the treatment of bone diseases such as osteoporosis. The lead compound, NBS 101, belongs to a new class of drugs for treatment of osteoporosis, and other bone and cartilage diseases. This class of drugs is expected to become a major treatment option based on substantial clinical data from multiple large studies performed on a worldwide basis.

America, Asia & Australia:

Osteologix, Inc.

425 Market Street, Suite 2230

San Francisco, CA 94105

USA

Tel: +1 (415) 955-2726

Fax: +1 (415) 955-2727

Att: Charles J. Casamento, Chief Executive Officer, ccasamento@osteologix.com

Europe & Africa:

Osteologix A/S

Fruebjergvej 3

DK-2100 Copenhagen Ø

Denmark

Tel: +45-39 17 97 30

Fax: +45-39 17 97 31

Att: Stephan Christgau, PhD, Chief Operating Officer, sc@nordicbone.dk

About Nordic Biotech: (www.nordicbiotech.com )

Nordic Biotech is a specialized biotech venture capital fund focusing primarily on the Nordic countries but also the rest of the EU. The investment focus is mainly early stage, but also spin-outs and restructurings. The team behind Nordic Biotech has extensive experience in biotech investment and has co-founded or invested in a series of biotech successes, such as Genmab A/S, Profound Pharma A/S, Biomarin, Inc., Zealand Pharma A/S and many others over the last decade. Our partners include Christian Hansen, Ph.D, co-founder of Nordic Biotech and former director at Novo Nordisk, Florian Schonharting, co-founder of Nordic Biotech and former head of health care investing at Bank Invest and Henrik Nilsson, M.D., Ph.D., senior analyst at Nordic Biotech. Nordic Biotech is affiliated with a strong advisory board consisting of global pharmaceutical research and development executives. Nordic Biotech has a very well respected investor base, including H. Lundbeck A/S, Danish Growth Fund, Biotechnology Value Fund L.P., The European Investment Fund, HBM Bioventures and Wallenberg Capital.

Nordic Biotech is the majority shareholder of Osteologix A/S.

Nordic Biotech

Østergade 5, 3.s.

DK- 1100 Copenhagen K

Denmark

Tel: +45-70 20 12 63

Fax: +45-70 20 12 64

Att: Christian Hansen, PhD, Partner, ch@nordicbiotech.com

###