December 4, 2009 (FinancialWire) — LifeCycle Pharma A/S (Copenhagen: LCP) has promoted Dr. William J.Polvino new president and CEO. Dr. Polvino has most recently served as chief operating officer of LCP.

Prior to joining LCP, he was CEO at Helsinn Therapeutics US, Inc. (a private company); president and CEO of Sapphire Therapeutics; CEO at Helsinn Therapeutics US, Inc. He joined the life science industry in 1991 and held various positions of increasing responsibility within clinical research, drug development, and senior positions at Merck, Wyeth, Theravance and Sapphire Therapeutics.

LCP also revealed that the board of directors has decided to issue 350,000 warrants to Dr. Polvino. Each warrant entitles the holder to subscribe one share of nominal DKK 1 in LCP against cash contribution equal to the closing price of LCP’s shares at the NASDAQ OMX Copenhagen on December 1, 2009. By application of the Black-Scholes formula, the market value of the warrant program can be calculated as DKK 2.35 per warrant assuming an exercise price of DKK 5.65 equal to the closing price of the company’s share at the NASDAQ OMX Copenhagen on December 1, 2009, based on an interest rate of 2.44% and a volatility of the company’s shares set to 48%.

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