CLS announces proposal for changes to the Board of Directors

Lund, Sweden – Clinical Laserthermia Systems AB (publ) ("CLS" or the "Company") today announced that the Chairman of the Board of Directors Hans von Celsing and, Board member, Paolo Raffaelli, will resign from the Board of Directors at their own request. Peter Max and Peter Mantas are proposed as new members of the Board, the former of whom is also proposed as the new chairman of CLS. Furthermore, it is proposed that Lars Erik Eriksson, Sandy Brandmeier and Marika Crohns  remain  as members of the Board. The Nomination Committee supports this proposal. Notice of an Extraordinary General Meeting will be distributed shortly.

"CLS has entered its commercialization phase at full speed and it is crucial that the great commercial potential that is available is exploited in the best possible way. During the summer, discussions have been held between the Board of Directors, the Nomination Committee and representatives of various groups of shareholders on how to best realize this potential. In connection with these discussions, Paolo and I have come to the conclusion that it is time to change leadership and hand over to new set of directors for this phase. I am confident that Peter Max and Peter Mantas will take on these roles with great success and I wish them the best of luck. I would also like to thank all my colleagues as well as employees, shareholders andcustomers of CLS for the  constructive and professional collaboration over the past fourteen years. CLS is an amazing company and it has been an honor to have been part of the company's journey so far," said Hans von Celsing, outgoing Chairman of the Board of CLS.

The Board of Directors and the Nomination Committee believe that the proposed change to the Board of Directors, with the proposal to elect Peter Max and Peter Mantas, will be positive. The changes will allow for CLS to take full advantage of the commercial opportunities that lie ahead, while maintaining certain leadership continuity. Based on their international and commercial experience, the Board of Directors and the Nomination Committee's assessment is that both the proposed members are well suited to successfully contribute to the Company's further development, particulary Peter Mantas' experience from CLS's main markets, the US and neuro, and Peter Max’s long experience in growing life science SMEs. Their financing expertise will also be beneficial now that the company is focused on solving the final financing, through the exercise of warrants of series TO 7 B, in conjunction with achieving the objective of a positive operating profit in 2026.

Hans von Celsing has been a member of the board since 2010 and Chairman of the Board of Directors of CLS since 2013 and Paolo Raffaelli since 2021. Following a decision at the 2024 Annual General Meeting, there can be a maximum of five members of the CLS Board.

Information on proposed new members of the board:

Peter Max is an accomplished executive with over three decades of experience from top management positions in technology, business development, in companies like Microsoft, TDC and ZyXel as well ascorporate finance. Max currently serves as CEO and Partner at Gemstone Capital. Since 2017, he has led the firm in providing specialized capital and transaction services to companies, particularly those exploring significant growth. Max is also a long-standing partner at 1CT, where he has been instrumental in delivering international business development and strategic finance services. Previously, he has served on numerous boards, including Sophion Bioscience and Realfiction.

Peter Mantas is the co-founder and co-General Partner of Logos LP, a privately held investment fund and co-Managing Partner of Orion Legal Group LLP. Prior to this, Peter was part of the capital markets, alternative investments and tax groups at McCarthy Tetrault LLP. Currently, Peter advises venture-backed healthcare technology companies and is an advisor to the Investment Committee overseeing public and private assets of a Canadian First Nation. Peter has both an LL.B. and B.C.L. from McGill University’s Faculty of Law. Prior to studying law he obtained an Honours Baccalaureate in Commerce, from the University of Ottawa, Telfer School of Management.

Notice of an Extraordinary General Meeting will be published shortly.

 

For more information, please contact:


Dan J. Mogren, CEO, Clinical Laserthermia Systems AB (publ)

Tel: +46 – (0)705 – 90 11 40


E-mail: [email protected]

 

Hans von Celsing, COB, Clinical Laserthermia Systems AB (publ)

Tel: +44 – 7788 418 141

E-mail: [email protected]

 

 

 

About CLS

Clinical Laserthermia Systems AB (publ), develops and sells TRANBERG®|Thermal Therapy System and ClearPoint Prism Neuro Laser Therapy System with sterile disposables, for minimally invasive treatment of cancer tumors and drug-resistant epilepsy. The products are marketed and sold directly or through partners for image-guided laser ablation and are used in studies for treatment with imILT®, the company's interstitial laser thermotherapy for immune stimulating ablation with potential abscopal treatment effect. CLS is headquartered in Lund, Sweden, with subsidiaries in Germany, the United States and a marketing company in Singapore. CLS is listed on Nasdaq First North Growth Market under the symbol CLS B. Certified adviser (CA) is FNCA Sweden AB.

 

For more information about CLS, please visit the Company's website: www.clinicallaser.se