Vicore announces the appointment of Ahmed Mousa as CEO

Vicore announces the appointment of Ahmed Mousa as CEO

• New CEO to drive growth strategy to maximise potential of C21 as transformative treatment for idiopathic pulmonary fibrosis via the upcoming Phase 2b trial
• Experienced executive with a multi-disciplinary background and successful business development track record
• Appointment serves as the foundation for building Vicore’s US presence

Stockholm, July 13, 2023 – Vicore Pharma Holding AB (publ) (“Vicore” or the “Company”) today announced that the Board of Directors has resolved to appoint Ahmed Mousa as new CEO of the Company with start in September 2023. This follows the July 5^th announcement that Carl-Johan Dalsgaard plans to retire as CEO of the Company.

Ahmed Mousa is an experienced biotechnology executive with deep expertise in business and corporate development across several therapeutic areas, including respiratory disease. He joins Vicore from Pieris Pharmaceuticals where he served as Chief Business Officer. During his time at Pieris, Ahmed executed strategic partnerships yielding over USD 400 million in upfront, milestone, and co-development program investment, and over USD 6 billion in milestone potential with leading biopharmaceutical companies including AstraZeneca, Genentech, Seagen and Servier. He also played a leading role in growing Pieris from less than 30 employees in 2016 to approximately 150 in 2022 and in the advancement of multiple therapeutic programs from concept to clinical studies. Ahmed is a US citizen and resides in Boston, Massachusetts.

Jacob Gunterberg, Chairman of the Board of Directors, Vicore, said: “Ahmed’s experience in growing companies and his track record of executing large strategic partnerships will be invaluable as Vicore moves into its next stage of growth. We are impressed with the breadth of Ahmed’s background combined with his understanding of the respiratory space. This is an exciting time for the company as we look to maximise the value of C21 as a potentially transformative therapy for patients suffering from idiopathic pulmonary fibrosis. The appointment of Ahmed will also be an important step in establishing a US presence for Vicore.”

Ahmed Mousa, incoming Chief Executive Officer of Vicore, said: “This is a pivotal moment for Vicore as the company seeks to advance C21 to late-stage development and broaden its geographic footprint. The excellent data generated from the Phase 2a AIR trial illustrate the potential of C21 and angiotensin II type 2 receptor agonism to stabilize or even reverse lung function decline, addressing a huge unmet need for patients suffering from idiopathic pulmonary fibrosis. I am impressed by the progress made by Vicore and look forward to working with such a stellar team to advance C21 and the broader pipeline.”

Prior to joining Pieris, Ahmed was an attorney with the law firm Covington & Burling, where he represented pharmaceutical and biotech companies in a range of matters. He was previously a law clerk at the US Court of Appeals for the Third Circuit and an IP associate at the law firm Kirkland & Ellis.  Ahmed obtained undergraduate degrees in molecular biology and government from Cornell University and a Master’s degree in biotechnology from John Hopkins University with research experience focused in oncology, angiogenesis, and—notably—angiotensin II biology. He obtained a Juris Doctor degree from Georgetown Law with honors, where he was the Editor-in-Chief of the Georgetown Journal of International Law.

For further information, please contact:

Jacob Gunterberg, Chairman of Vicore

jacob.gunterberg@vicorepharma.com