Cortendo AB Announces Management Appointments

Västra Frölunda, Sweden – Cortendo AB (stock listing/ticker) today announced the appointments of H. Joseph Reiser, Ph.D., as President and Chief Executive Officer, and Theodore R. Koziol, Ph.D., as Chief Operating Officer.

“Cortendo has evolved into a visible and competitive company in the field of metabolic disorders and we are very pleased to have such highly experienced executives join our team,” commented Eigil S. Spetalen, Chairman, Cortendo A/B.  “We look forward to their leadership and impact in expanding the Company’s strategy and to in-license new programs in synergistic areas to provide future growth and diversification.”

Dr. Reiser has more than 30 years of pharmaceutical and biotech experience in both public and private companies. Dr. Reiser served as President and Chief Executive Officer and a member of the board of CureDM Inc., a privately held biopharmaceutical company focused on the discovery and development of new therapies that ameliorate or reverse diabetes. He was President and Chief Executive Officer and member of the board of Locus Pharmaceuticals, a small molecule-oriented oncology company until 2008. From 1998 to 2002, Dr. Reiser served as President, Chief Executive Officer and member of the board of Cytogen Corporation; a NASDAQ-traded public product based oncology company. Prior to joining Cytogen, Dr. Reiser was Corporate Vice President and General Manager, Pharmaceuticals and a member of the board of directors for Berlex Laboratories, Inc., the U.S. subsidiary of Schering AG. During his 17-year tenure at Berlex, Dr. Reiser held numerous senior leadership positions, including serving as the first President of Schering Berlin’s Venture Corporation. Dr. Reiser served on numerous Boards and as Chairman of the New Jersey Biotechnology Council from 2001 to 2002.  Dr. Reiser is also currently a member of the board and executive committee of the Pennsylvania Biotech Association and continuous as a consultant and member of the board of CureDM.   Dr. Reiser received his Ph.D. in Physiology from Indiana University School of Medicine, where he also earned his Masters and Bachelor of Science degrees.

Prior to joining Cortendo, Dr. Koziol co-founded and remains the President of BioPancreate, Inc., a biopharmaceutical company founded in 2010.   Until, the recent acquisition by Pfizer, Dr. Koziol served over a time span of 15 years in a number of senior positions at Wyeth Pharmaceuticals, including Vice President of Licensing & Business Development  where he was responsible for business development world-wide, outside of US.  Prior to Wyeth, Dr. Koziol worked at Berlex Laboratories, the U.S. Subsidiary of Schering AG  (now Bayer) from September 1977 to September 1994 in a number of business and scientific positions including Head, New Business & Technology Development, Office of Technology (1992-1994) and Head, Drug Metabolism & Pharmacokinetics (1989-1992).  Dr. Koziol received his Ph.D. in Chemistry from Seton Hall University and his B.A. in Chemistry from Drew University.

About Cortendo

Founded in 1996, Cortendo is a publicly traded, European based biopharmaceutical company that has pioneered cortisol inhibition as a treatment for Metabolic Syndrome (MES).  Lead drug candidate COR003, the 2S,4R-enantiomer of ketoconazole, is expected to enter Phase IIb clinical investigations for type 2 diabetes by the first quarter of 2012.  In parallel, Cortendo has plans to implement a broader pipeline expansion program existing of novel treatment approaches in diabetes and more near-term, revenue based opportunities.  Backed by a highly experienced leadership team, the Company’s expanded strategy will also include partnering discussions targeting the in-license of new programs in synergistic areas to provide future company growth and diversification.  For more information, please visit Cortendo’s website at www.cortendo.com.

Cortendo Forward-looking Statements

This press release contains forward-looking statements concerning Cortendo that involve a number of risks and uncertainties. All statements other than statements of historical facts included in this press release, including, without limitation, statements regarding the Company’s future financial position, strategy, anticipated investments, costs and results, plans, projects to enhance efficiency, outcomes of products development, future capital expenditures, liquidity requirements and objectives of management for future operations, may be deemed to be forward‐looking statements. These forward‐looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements or industry results to be materially different from those contemplated, projected, forecasted, estimated or budgeted, whether expressed or implied, by these forward‐looking statements. Given these risks and uncertainties, investors should not place any undue reliance on forward‐looking statements as a prediction of actual results. None of these forward‐looking statements constitutes a guarantee of the future occurrence of such facts and data or of actual results.  These statements are based on data, assumptions and estimates that the Company believes are reasonable. The forward‐looking statements contained in this document are made only as of the date hereof. The Company expressly disclaims any obligation or undertaking to release publicly any updates of any forward-looking statements contained in this press release to reflect any change in its actual results, assumptions, expectations or any change in events, factors, conditions or circumstances on which any forward‐looking statement contained in this press release is based.