Board of Directors

(From left: Joe Anderson, Ingrid Wiik, Per Samuelsson, Stein Annexstad, John Berriman, Shahzad Malik*, Hilde Steineger and Inga Loen*) *With reference to Algeta's Annual General Meeting 2010: these has been replaced by Kapil Dhingra and Judith Hemberger.

Stein Holst Annexstad

(Born 1944), Non-executive Chairman, BA, Managing Director Holstein AS, Asker, Norway
Mr. Annexstad was a co-founder of Norges Investor AS, an Oslo-based investment and private equity firm and has senior industry experience, both at executive and Board levels. He was the former Managing Director of Nycomed AS (subsequently merged with Amersham) and is also the former deputy CEO of Hafslund Nycomed AS (the parent company of Nycomed, following an acquisition). Nycomed became a world leader in medical imaging, and was a huge success for its investors. He is also a former executive of Dyno Industrier AS (fine chemicals) and head of AS ISCO Group, an executive search and corporate advisory group. Mr. Annexstad holds a BA in commerce from the Norwegian School of Economics (1969). He holds several board positions in early stage companies, mainly in the life science sector. Mr. Annexstad joined the Board of Algeta in October 2000. His business address is Holstein AS, P.b. 200, NO-1372 Asker.

As of 31 December 2009, Mr. Annexstad holds 54,067 shares, and 3,223 stock options in Algeta.

John Edward Berriman

(Born 1948), Deputy Chairman, BA, MBA.
Mr. Berriman is the Chairman of Heptares Therapeutics Ltd and Pronota nv and a member of the Board of Directors of NASDAQ-listed MicroMet Inc. Previously he was a director of Abingworth Management Ltd, an international healthcare venture capital firm, at which he was involved in founding, financing and serving as a director of several biotechnology companies in Europe and the USA – many of which obtained listings on public stock exchanges. Prior to that, Mr. Berriman spent 14 years with Celltech Group plc and was a member of its Board when it listed on the London Stock Exchange in 1994. He has a degree in Chemical Engineering from the University of Cambridge and an MBA from the London Business School. Mr. Berriman joined the Board of Algeta in 2004. His business address is The Corporation Trust Center, 1209 Orange Street, City of Wilmington, County of New Castle, Delaware, USA.

As of 31 December 2009, Mr. Berriman holds 41,120 shares, and 60,000 stock options in Algeta.

Kapil Dhingra

(Born 1959), Director, M.B., B.S, Managing Member of KAPital Consulting, LLC.
Dr. Kapil Dhingra is the Managing Member of KAPital Consulting, LLC, a consulting company dedicated to assisting biotechnology, pharmaceutical and diagnostic companies realize the full potential of clinical and commercial advances in oncology. He currently serves on the Board of Directors of Micromet inc (a NASDAQ listed company), Coferon Inc (a privately held biotechnology company), SARC (Sarcoma Alliance for Research Through Collaboration). He is also a member of the External Scientific Advisory Council of Institut Gustave Roussy and a member of the New Drug Advisory Committee of the EORTC. He has nearly 25 years experience in oncology, clinical, translational research and drug development. From 1999 to June 2008, Dr. Dhingra worked in positions of increasing responsibility at Hoffman-La Roche, most recently serving as Vice President, Head, Oncology Disease Biology Leadership Team, and Head, Oncology Clinical Development. Prior to Hoffmann-La Roche, from 1996 to 1999, Dr. Dhingra worked as a Clinical and Senior Clinical Research Physician with Eli Lilly and Company. and from 1989 to 1996, a Clinical Instructor, Assistant Professor of Medicine ( tenure-track) at the University of Texas M.D. Anderson Cancer Center. Throughout his industry career, he maintained an active faculty appointment, initially at Indiana University School of Medicine from 1997 to 1999 as Clinical Associate Professor, and, more recently, at Memorial Sloan Kettering Cancer Center in New York from 2000 to 2008. Dr. Dhingra holds an M.B., B.S. degree (equivalent to a US M.D. degree) from the All India Institute of Medical Services, and has performed postgraduate work the All India Institute of Medical Services, the Lincoln Medical and Mental Health Center (New York Medical College), Bronx, NY and Emory University School of Medicine, Atlanta, GA. His business address is: KAPital Consulting LLC, 8 Baldwin Dew Court, Sparta, NJ 07871, USA

As of 26 April 2010, Dr. Dhingra holds no shares, and no stock options in Algeta.

Per Anders Göte Samuelsson

(Born 1961), Director, Partner, HealthCap, Stockholm, Sweden
Prior to joining Odlander Fredrikson / HealthCap in 2000, Mr. Samuelsson gained over 15 years of investment banking experience, mainly with Aros Securities in Sweden. In his most recent position with Aros Securities, as a Director in the firm's corporate finance department, he specialised in the areas of Merger Transactions, Initial Public Offerings and Equity Incentive Programs. Prior to this Mr. Samuelsson was head of Research, also at Aros Securities. Mr. Samuelsson received his M.Sc. in Engineering from the Institute of Technology in Linköping. Mr. Samuelsson joined the Board of Algeta on 29 September 2005. His business address is HealthCap, Odlander, Fredrikson & Co AB, Strandvägen 5B, SE-114 51 Stockholm, Sweden.

As of 31 December 2009, Mr.Samuelsson holds no shares, and no stock options in Algeta.

Hilde Hermansen Steineger

(Born 1966), Director, PhD, VP Business Development, Pronova BioPharma ASA, Oslo
Ms. Steineger is VP Business Development at Pronova BioPharma ASA (listed on Oslo Stock Exchange), a global leader in the research, development and manufacture of marine-originated omega-3 derived pharmaceutical products. Previously, Ms Steineger was a VP Investor Relations and Communications at Pronova BioPharma. Before she joined Pronova BioPhrama, she was Senior Associate with Neomed Management, an international investment firm focusing on the healthcare and life science industry, at which she has a variety of responsibilities for the firm's investments in the Nordic area. From 2004 to 2006, she worked as an independent advisor focusing on start-ups within the Life Science/Health Care sector, and before that, she was an Equity Analyst in Kreditkassen (now part of Nordea Securities) based in Oslo and Copenhagen (2001-2004). Ms. Steineger began her professional career at Nycomed Pharma, where she worked in the area of clinical research and international marketing from 1999 to 2001. Ms Steineger is a member of the Board of Directors at Clavis Pharma ASA, Weifa AS and Padtech AS and has previously been on the Board of Biotec Pharmacon ASA (2005- 2007). She holds a BSc and a PhD in Medical Biochemistry from the University of Oslo.

As of 1 December 2009, Ms. Steineger holds no shares, and 1,611 stock options in Algeta.

Ingrid Wiik

(Born 1945), Director, M.Pharm, M.Sc (Bipharamcy), MBA, former President and CEO, Alpharma Inc.
Ms. Wiik has spent more than 30 years in the pharmaceutical industry, both in R&D and general management, and has extensive leadership and international experience. Most recently, she was President and CEO of Alpharma Inc. (listed on NYSE), a position she held from January 2000 until June 2006. Prior to this, Ms. Wiik was Vice President and President of the International Pharmaceuticals Division at Alpharma (1994-1999). She currently holds several Board positions: Coloplast AS (Denmark), Human Care (Sweden), Norske Skog ASA and Biotec Pharmacon ASA (Norway); and was previously on the Boards of Statoil ASA and Alpharma. Ms. Wiik holds a Master of Pharmacy degree from the University of Oslo, a MSc degree (Biopharmacy) from University of London and a MBA from the Norwegian School of Management.

As of 1 December 2009, Ms. Wiik holds 5,594 shares, and 1,611 stock options in Algeta.

Judith Hemberger

(Born 1947), Director, Ph.D., former Venture Partner at Nomura Phase4 Ventures and Interim CEO of Zosano Pharma, Inc.
Dr. Hemberger is an experienced biotech industry executive with more than 30 years’ of global pharmaceutical and biotech industry experience. Dr. Hemberger was a co-founder, Executive Vice President and Chief Operating Officer of Pharmion Corporation since its inception in 2000 until 2006. Prior to that, she served as Senior Vice President of Business Development at AVAX Technologies, Inc., a vaccine technology company. From 1979 to 1998, Dr. Hemberger worked in various capacities at Marion Laboratories, a pharmaceutical company, and its successor companies Marion Merrell Dow and Hoechst Marion Roussel, where she led a number of strategic functions including Professional Education, Global Regulatory Affairs, Global Medical Affairs and Commercial Development. Her final role at Hoechst Marion Roussel was Senior Vice President of Global Drug Regulatory Affairs. More recently, Dr. Hemberger was a Venture Partner at Nomura Phase4 Ventures (2006-2009) and Interim CEO of Zosano Pharma, Inc. She currently serves on the board of directors of VasoGenix Pharmaceuticals, Inc. and Chroma Therapeutics, and has previous board experience with Marion Merrell Dow, NexStar Pharmaceuticals, Cell Pathways, Schein, Pharmion, PRA International, Perrigo, Renovis, Myogen, Zosano Pharma, Novacea, Health Shares, Zymogenetics, and Atani. Dr. Hemberger received a B.S. in biology and chemistry from Mount St. Scholastica College (St. Benedictine College), a Ph.D. in Pharmacology from the University of Missouri-Kansas City and an M.B.A. from Rockhurst College.

As of 23 April 2010, Dr. Hemberger holds no shares, and 806 stock options in Algeta.

Joseph Anderson

(Born 1959), Director, PhD, Partner, Abingworth LLP, London, UK
Dr. Anderson is a Partner at Abingworth, an international investment group dedicated to the life sciences and healthcare sectors, where he manages all aspects of the group’s investments in public equities. He leads private investments in public equities in the US and Europe, manages open-market portfolios and advises Abingworth’s venture-financed companies that are now public. He has more than 20 years experience as a Fund Manager and Analyst in the pharmaceutical and bioscience sectors. Dr. Anderson joined Abingworth in 2004 from First State Investments in London, part of the Commonwealth Bank of Australia, where he was Head of Global Healthcare Equities and Portfolio Manager. Prior to this, he was Pharmaceuticals Analyst at investment bank, Dresdner Kleinwort Benson. Previously, Dr. Anderson established and was Head of the Strategy Unit at the Wellcome Trust, one of the world’s largest medical foundations. He has a PhD in Biochemistry. Dr. Anderson joined the Board of Algeta 5 March 2009. His business address is: Abingworth LLP, 38 Jermyn Street, London, SW1Y 6DN, UKAs of 5 March 2009, Mr. Anderson holds no shares, and no stock options in Algeta.

As of 5 March 2009, Mr. Anderson holds no shares, and 1,611 stock options in Algeta.