Cantargia AB announced the appointment of Dr. Hilde Steineger as Chief Executive Officer, effective September 1, 2025. The Swedish biotechnology company selected the experienced biotech executive to lead its IL1RAP-targeted antibody therapy programs as it advances two clinical candidates and builds on its strategic partnership with Otsuka Pharmaceuticals.
Dr. Steineger brings a proven track record in biotechnology leadership, having served as Co-Founder and Chief Operating Officer of NorthSea Therapeutics since 2017, where she helped raise $155M in Series A-C financing for the late-stage biopharmaceutical company with three clinical candidates. She also led Staten Biotechnology as CEO since 2017, orchestrating a $480M licensing deal with Novo Nordisk.
"I am thrilled to join Cantargia at this exciting stage of its development. The company's focus on innovative antibody-based therapies targeting IL1RAP and its strategic partnership with Otsuka represent significant opportunities to advance impactful treatments," said Dr. Steineger.
Clinical Pipeline and Strategic Focus
Cantargia has established a platform based on the protein IL1RAP, which is involved in multiple cancer forms and inflammatory diseases. The company's lead oncology program features nadunolimab (CAN04), an antibody being studied clinically primarily in combination with chemotherapy, focusing on pancreatic cancer, non-small cell lung cancer, and triple-negative breast cancer. According to the company, positive data for these combinations indicate stronger efficacy than would be expected from chemotherapy alone.
The company's second development program, CAN10, blocks IL1RAP signaling through a different mechanism than nadunolimab and targets serious autoimmune and inflammatory diseases. Cantargia has entered an agreement with Otsuka Pharmaceuticals for the acquisition of the CAN10 program.
Leadership Transition and Strategic Direction
Dr. Magnus Persson, Chairman of the Board of Directors, emphasized the strategic timing of the appointment: "Her appointment is a natural development for Cantargia as a maturing company with two product candidates in clinical trials and having recently transacted with an international pharmaceutical company. We are very confident that Hilde will be an inspiring and highly effective leader as we build on our deal with Otsuka to create value for all our stakeholders."
Damian Marron, who served as Interim CEO since February 2025, will continue as a Non-Executive Director and resume his role as Chair of the Remuneration Committee. "It has been a privilege and a pleasure to have had the opportunity to lead Cantargia over the last seven months. It is very satisfying that we have been able to sign our transformative transaction with Otsuka and lay the foundations for the next steps in Cantargia's journey," Marron stated.
Executive Background and Expertise
Dr. Steineger's career spans multiple aspects of biotechnology development and finance. Before her roles at NorthSea Therapeutics and Staten Biotechnology, she served as Head of Strategic Innovation Management in the Nutrition and Health Division of BASF. Her experience includes roles as a financial analyst covering life science stocks, venture capitalist at a life science venture fund, and Head of Business Development at Pronova BioPharma.
She has served on multiple boards of directors, including Algeta ASA, Nordic Nanovector, and Strongbridge Biopharma plc, which was listed on Nasdaq. Dr. Steineger holds a PhD in medical biochemistry and an M.Sc. in molecular biology/biotechnology from the University of Oslo.
The leadership change positions Cantargia to advance its IL1RAP-targeted therapy platform while leveraging its partnership with Otsuka Pharmaceuticals to develop treatments for both oncology and autoimmune indications.
