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Zelluna ASA Remuneration Information 2024
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Remuneration Information
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Ultimovacs ASA - Remuneration Report2023
Remuneration report 2023
Background
The board of Ultimovacs shall prepare a remuneration report describing how the Company complies with its own guidelines for remuneration to senior executives. The report covers remuneration to senior executives defined as the company's management team. The report has been prepared in accordance with the Public Limited Liability Companies Act § 6-16b and associated regulations as well as the European Commission's template for a report on remuneration.
Purpose and general remuneration principles
These guidelines constitute a framework for which remuneration to the executive management may be decided during the period for which the guidelines are in force. The Company is a biotech company developing novel immunotherapies against cancer. Consequently, the Company competes for senior management talent within the international pharmaceutical industry. These guidelines attempt to ensure the Company's competitiveness as an employer within the industry.
The Company's remuneration principles shall be designed to ensure responsible and sustainable remuneration decisions that support the Company's business strategy, long-term interests, and sustainable business practices. To this end, salaries and other employment terms shall enable the Company to retain, develop and recruit skilled senior executives with relevant experience and competence. The remuneration shall be on market terms, competitive, and reflect the performance and responsibilities of individual senior executives.
The remuneration guidelines apply to the executive management team of the Company. For the purposes of these guidelines, the executive management team includes the CEO and certain other executives who, from time to time, are members of the management and directly report to the CEO. The management team consists of 10 people.
Ultimovacs' guidelines for remuneration to senior executives are available on the company's website, www.ultimovacs.com. The auditor's confirmation of the company's compliance with the guidelines is available in this report.
Compliance with the guidelines
The complete remuneration for 2023 has been in accordance with the guidelines approved by the General Assembly in 2023.
The base management salary is regarded as competitive in order to attract and retain the most attractive managers. The salary level is in our view not of a size that could harm the Company's reputation, or significantly above the norm for employees with similar background and in similar positions in comparable companies. The salary level should, however, ensure that the Company can attract and retain executive employees with the desired expertise and experience.
With the exception of an Employee invention compensation to one member of the Management team, there has been no variable remuneration, bonuses or severance payments in 2023.
There were no outstanding loans or guarantees made to related parties, the Board of Directors, the Management Team or any other employees as of 31 December 2022 or as of 31 December 2023.
Information on shareholder vote
In relation to the management remuneration guidelines program presented at the General Assembly in 2023, the Company received input from one of its shareholders that the share option program should be capped at a maximum profit level for the individual participants. The shareholder therefore voted against the proposed remuneration guidelines and the related authorization to the board to issue shares related to the option program. The board of directors has considered such input, but concluded that the current structure of the option program aligns with the Company's approved strategy and purpose of the option program.
Management remuneration
Below is an overview of the remuneration received by the Management team in 2022 and 2023. 'Salary' comprise fixed salary including holiday pay. 'Benefits in kind' comprise telephone and insurance for all employees. In addition, the CEO, CFO, CMO, CTO and CBO have either company cars or receive a cash car allowance. The Company also covers the costs of an apartment in Norway for the CEO up to a certain amount.
'Share option' is the IFRS cost in relation to the share option plan for all options not exercised. Please refer to the next page for more information regarding the allocated and outstanding share options. With the exception of options, the Management team does not have any other regular variable pay or other variable benefits.
Pension costs are in line with the Remuneration guidelines. CEO and Management in the Norwegian entity participate in a defined contribution pension plan with the same terms as all other employees in the Norwegian entity.
The Chief Business Officer, who is employed in the Swedish entity, is entitled to a defined contribution pension plan where the annual accrual is currently 20% of the annual salary. The Head of Regulatory and QA, who is also employed in the Swedish entity, has a pension accrual of 25% of the annual salary.
The CBO and Head of Regulatory and QA, who are employed in Ultimovacs AB, receive their remuneration in SEK (Swedish Kroner). The amounts in the tables below are translated to NOK by using the average SEK/NOK rate for the respective year. The share option remuneration is in NOK.
| MANAGEMENT REMUNERATION 2023 (NOK 1 000) |
BASE SALARY* |
BENEFITS IN KIND |
VARIABLE REMUNER. |
SHARE OPTIONS |
PENSION COST |
TOTAL REMUNER ATION |
|---|---|---|---|---|---|---|
| Carlos de Sousa (CEO) | 4 843 | 542 | - | 995 | 124 | 6 503 |
| Hans Vassgård Eid (CFO) | 2 768 | 262 | - | 1 251 | 124 | 4 404 |
| Jens Egil Torbjørn Bjørheim (CMO) | 2 678 | 238 | - | 1 251 | 124 | 4 290 |
| Audun Tornes (CTO) | 1 635 | 262 | 51 | 848 | 124 | 2 925 |
| Gudrun Trøite (Head of Project Coordin.) | 1 635 | 18 | - | 721 | 124 | 2 498 |
| Ingunn Hagen Westgaard (Head of R&D) | 1 635 | 26 | - | 785 | 124 | 2 570 |
| Øivind Foss (Head of Clinical Operations) | 1 658 | 18 | - | 911 | 124 | 2 711 |
| Ton Berkien (CBO) | 2 585 | 205 | - | 1 138 | 500 | 4 429 |
| Anne Worsøe (Head of IR and Comm.) | 1 692 | 17 | - | 474 | 124 | 2 307 |
| Orla Mc Callion (Head of Reg. and QA) | 1 358 | 5 | - | 670 | 340 | 2 373 |
| Total remuneration | 22 488 | 1 594 | 51 | 9 044 | 1 828 | 35 009 |
| MANAGEMENT REMUNERATION 2022 (NOK 1 000) |
BASE SALARY* |
BENEFITS IN KIND |
VARIABLE REMUNER. |
SHARE OPTIONS |
PENSION COST |
TOTAL REMUNER ATION |
|---|---|---|---|---|---|---|
| Carlos de Sousa (CEO) | 4 638 | 501 | - | 2 892 | 101 | 8 131 |
| Hans Vassgård Eid (CFO) | 2 641 | 254 | - | 1 990 | 101 | 4 985 |
| Jens Egil Torbjørn Bjørheim (CMO) | 2 557 | 194 | - | 1 926 | 101 | 4 777 |
| Audun Tornes (CTO) | 1 562 | 189 | - | 1 221 | 101 | 3 073 |
| Gudrun Trøite (Head of Project Coordin.) | 1 561 | 12 | - | 1 101 | 101 | 2 774 |
| Ingunn Hagen Westgaard (Head of R&D) | 1 562 | 20 | - | 1 161 | 101 | 2 843 |
| Øivind Foss (Head of Clinical Operations) | 1 582 | 12 | - | 1281 | 101 | 2 975 |
| Ton Berkien (CBO) | 2 351 | 177 | - | 1 181 | 455 | 4 165 |
| Anne Worsøe (Head of IR and Comm.) | 1 494 | 11 | - | 270 | 101 | 1 876 |
| Orla Mc Callion (Head of Reg. and QA) | 1 235 | 0 | - | 456 | 309 | 2 000 |
| Total remuneration | 21 183 | 1 370 | - | 13 477 | 1 568 | 37 599 |
* Base salary in the table also includes payment of vacation pay which was accumulated from the previous year
Please note that the 'total remuneration' in the table above includes share option remuneration that are based on theoretical values on the options and the vested percentage of the options during the year. This value does not reflect current market value of the vested/unvested options, and/or actual cash remuneration to the employee, only the pro rata share of booked IFRS costs in the financial statement for each individual. The NOK/%-change in total remuneration in the table is therefore in most cases higher than the actual change in cash remuneration received during the year for each respective employee with option holdings.
n.a.: if the employee has not been employed two full consecutive years.
| TOTAL REMUNERATION TO THE MANAGEMENT TEAM INCLUDING IFRS OPTION COSTS (NOK 1 000) |
2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|
| Carlos de Sousa (CEO from 1 June 2020) | Total NOK | 6 503 | 8 131 | 7 822 | 5 443 | - |
| Change NOK | -1 628 | 309 | 2 379 | - | - | |
| Change % | -20.0 % | 3.9 % | n.a. | - | - | |
| Øyvind Arnesen (CEO until 30 April 2020) | Total NOK | - | - | 1 997 | 3 278 | 3 046 |
| Change NOK | - | - | -1 281 | 232 | 347 | |
| Change % | 0.0 % | 0.0 % | n.a. | 7.6 % | 12.9 % | |
| Hans Vassgård Eid (CFO) | Total | 4 404 | 4 985 | 3 929 | 3 296 | 2 747 |
| Change NOK | -581 | 1 056 | 633 | 549 | 362 | |
| Change % | -11.7 % | 26.9 % | 19.2 % | 20.0 % | 15.2 % | |
| Jens Egil Torbjørn Bjørheim (CMO) | Total | 4 290 | 4 777 | 3 738 | 2 696 | 2 249 |
| Change NOK | -487 | 1 040 | 1 041 | 447 | 282 | |
| Change % | -10.2 % | 27.8 % | 38.6 % | 19.9 % | 14.3 % | |
| Audun Tornes (Chief Technology Officer) | Total | 2 925 | 3 073 | 2 398 | 2 120 | 1 815 |
| Change NOK | -147 | 675 | 278 | 305 | 164 | |
| Change % | -4.8 % | 28.1 % | 13.1 % | 16.8 % | 9.9 % | |
| Gudrun Trøite (Head of Project Coordin.) | Total | 2 498 | 2 774 | 2 231 | 1 865 | 1 504 |
| Change NOK | -276 | 543 | 366 | 361 | 249 | |
| Change % | -9.9 % | 24.3 % | 19.6 % | 24.0 % | 19.8 % | |
| Ingunn Hagen Westgaard (Head of R&D) | Total | 2 570 | 2 843 | 2 244 | 1 836 | 1 527 |
| Change NOK | -273 | 598 | 408 | 309 | 230 | |
| Change % | -9.6 % | 26.7 % | 22.2 % | 20.3 % | 17.7 % | |
| Øivind Foss (Head of Clinical Operations) | Total | 2 711 | 2 975 | 2 259 | 1 959 | 1 657 |
| Change NOK | -264 | 716 | 300 | 302 | 188 | |
| Change % | -8.9 % | 31.7 % | 15.3 % | 18.2 % | 12.8 % | |
| Ton Berkien (Chief Business Officer) | Total | 4 429 | 4 165 | 3 539 | 267 | - |
| Change NOK | 264 | 626 | 3 272 | - | - | |
| Change % | 6.3 % | 17.7 % | n.a. | - | - | |
| Anne Worsøe (Head of IR and Comm.) | Total | 2 307 | 1 876 | 426 | - | - |
| Change NOK | 431 | 1 450 | - | - | - | |
| Change % | 22.9 % | n.a. | - | - | - | |
| Orla Mc Callion (Head of Reg. and QA) | Total | 2 373 | 2 000 | 407 | - | - |
| Change NOK | 373 | 1 593 | - | - | - | |
| Change % | 18.6 % | n.a. | - | - | - | |
| Profit (loss) after tax | (189 239) | (167 792) | (164 722) | (120 552) | (61 166) | |
| FTEs in company | 25.0 | 23.2 | 21.3 | 18.8 | 16.5 | |
| FTEs in company excluding Management | 15.0 | 13.2 | 12.8 | 11.2 | 8.9 | |
| Average total remuneration per FTE excl. Management | 1 607 | 1 659 | 1 227 | 1 394 | 1 323 |
| REMUNERATION TO THE MANAGEMENT TEAM (NUMBER OF OPTIONS) |
AWARD PLAN | AWARD DATE | VESTING DATE |
STRIKE PRICE (NOK) |
OPENING BALANCE |
AWARDED DURING THE YEAR |
VESTED DURING THE YEAR |
EXERCISED DURING THE YEAR |
CLOSING BALANCE |
|---|---|---|---|---|---|---|---|---|---|
| Carlos de Sousa | Plan 2020 | 25.05.2020 | 1y/2y/3y | 39.15 | 362 185 | 120 728 | - | ||
| (CEO) | Plan 2021 | 16.04.2021 | 1y/2y/3y | 61.99 | 53 850 | 13 463 | - | 425 535 | |
| Plan 2023 | 21.04.2023 | 1y/2y/3y | 128.61 | 9 500 | - | - | |||
| Hans Vassgård Eid | Plan 2019 | 03.06.2019 | 1y/2y/3y | 31.25 | 62 500 | Fully vested | - | ||
| (CFO) | Plan 2020 | 25.05.2020 | 1y/2y/3y | 39.15 | 56 000 | 28 000 | - | ||
| Plan 2021 | 16.04.2021 | 1y/2y/3y | 61.99 | 59 000 | 14 750 | - | 234 000 | ||
| Plan 2022 | 21.04.2022 | 1y/2y/3y | 83.46 | 47 000 | 11 750 | - | |||
| Plan 2023 | 21.04.2023 | 1y/2y/3y | 128.61 | 9 500 | - | - | |||
| Jens Egil Torbjørn Bjørheim | Plan 2019 | 03.06.2019 | 1y/2y/3y | 31.25 | 53 000 | Fully vested | - | ||
| (Chief Medical Officer) | Plan 2020 | 25.05.2020 | 1y/2y/3y | 39.15 | 56 000 | 28 000 | - | ||
| Plan 2021 | 16.04.2021 | 1y/2y/3y | 61.99 | 59 000 | 14 750 | - | 224 500 | ||
| Plan 2022 | 21.04.2022 | 1y/2y/3y | 83.46 | 47 000 | 11 750 | - | |||
| Plan 2023 | 21.04.2023 | 1y/2y/3y | 128.61 | 9 500 | - | - | |||
| Audun Tornes | Plan 2019 | 03.06.2019 | 1y/2y/3y | 31.25 | 38 000 | Fully vested | - | ||
| (Chief Technology Officer) | Plan 2020 | 25.05.2020 | 1y/2y/3y | 39.15 | 34 500 | 17 250 | - | ||
| Plan 2021 | 16.04.2021 | 1y/2y/3y | 61.99 | 35 000 | 8 750 | - | 147 000 | ||
| Plan 2022 | 21.04.2022 | 1y/2y/3y | 83.46 | 30 000 | 7 500 | - | |||
| Plan 2023 | 21.04.2023 | 1y/2y/3y | 128.61 | 9 500 | - | - | |||
| Gudrun Trøite | Plan 2019 | 03.06.2019 | 1y/2y/3y | 31.25 | 7 314 | Fully vested | - | ||
| (Head of Project Coordination) | Plan 2020 | 25.05.2020 | 1y/2y/3y | 39.15 | 34 500 | 17 250 | - | ||
| Plan 2021 | 16.04.2021 | 1y/2y/3y | 61.99 | 35 000 | 8 750 | - | 106 314 | ||
| Plan 2022 | 21.04.2022 | 1y/2y/3y | 83.46 | 20 000 | 5 000 | - | |||
| Plan 2023 | 21.04.2023 | 1y/2y/3y | 128.61 | 9 500 | - | - | |||
| Ingunn Hagen Westgaard | Plan 2019 | 03.06.2019 | 1y/2y/3y | 31.25 | 16 895 | Fully vested | - | ||
| (Head of R&D) | Plan 2020 | 25.05.2020 | 1y/2y/3y | 39.15 | 34 500 | 17 250 | - | ||
| Plan 2021 | 16.04.2021 | 1y/2y/3y | 61.99 | 35 000 | 8 750 | - | 120 895 | ||
| Plan 2022 | 21.04.2022 | 1y/2y/3y | 83.46 | 25 000 | 6 250 | - | |||
| Plan 2023 | 21.04.2023 | 1y/2y/3y | 128.61 | 9 500 | - | - |
| REMUNERATION TO THE MANAGEMENT TEAM (NUMBER OF OPTIONS) |
AWARD PLAN | AWARD DATE | VESTING DATE |
STRIKE PRICE (NOK) |
OPENING BALANCE |
AWARDED DURING THE YEAR |
VESTED DURING THE YEAR |
EXERCISED DURING THE YEAR |
CLOSING BALANCE |
|---|---|---|---|---|---|---|---|---|---|
| Øivind Foss | Plan 2019 | 03.06.2019 | 1y/2y/3y | 31.25 | - | - | - | ||
| (Head of Clinical Operations) | Plan 2020 | 25.05.2020 | 1y/2y/3y | 39.15 | 34 500 | 17 250 | - | ||
| Plan 2021 | 16.04.2021 | 1y/2y/3y | 61.99 | 35 000 | 8 750 | - | 114 000 | ||
| Plan 2022 | 21.04.2022 | 1y/2y/3y | 83.46 | 35 000 | 8 750 | - | |||
| Plan 2023 | 21.04.2023 | 1y/2y/3y | 128.61 | 9 500 | - | - | |||
| Ton Berkien | Plan 2021 | 16.04.2021 | 1y/2y/3y | 61.99 | 59 000 | 14 750 | - | ||
| (Chief Business Officer) | Plan 2022 | 21.04.2022 | 1y/2y/3y | 83.46 | 47 000 | 11 750 | - | 115 500 | |
| Plan 2023 | 21.04.2023 | 1y/2y/3y | 128.61 | 9 500 | - | - | |||
| Anne Worsøe | Plan 2022 | 21.04.2022 | 1y/2y/3y | 83.46 | 22 500 | 5 626 | - | ||
| (Head of IR and Comm.) | Plan 2023 | 21.04.2023 | 1y/2y/3y | 128.61 | 9 500 | - | - | 32 000 | |
| Orla Mc Callion | Plan 2022 | 21.04.2022 | 1y/2y/3y | 83.46 | 38 000 | 9 500 | - | ||
| (Head of Regulatory and QA) | Plan 2023 | 21.04.2022 | 1y/2y/3y | 128.61 | 9 500 | - | - | 47 500 |
Performance period: permanent employment prior to award date
Vesting date: a vesting schedule of 25%/25%/50% after 1/2/3 years applies generally, but a vesting schedule of 33%/33%/33% after 1/2/3 years applies specifically for options granted to Carlos de Sousa (CEO) in 2020.
End of holding period: 7 years from grant date for all options
Option exercise: Option exercise periods were half yearly in 2020 and 2021, and quarterly from 2022. No members of the Management team exercised options in 2023. During 2022, Øivind Foss exercised 38,000 options, Ingunn Westgaard 21,105 options and Gudrun Trøite 30,686 options. No other members of the current management team has exercised options any other year.
Remuneration of the Board of Directors
In accordance with the remuneration policy, the Board of Directors was remunerated with fixed fees. Members of the audit committee received an additional fee, kNOK 35 for the committee leader, and kNOK 20 for other members. The fees are summarized in the table below.
Aitana Peire and Haakon Stenrød were elected as new board members in November 2020, thus the reduced fee received for 2020 (paid in 2021). Håkan Englund was deputy board member until the Annual General Meeting in 2022, when he resigned from the board. Aitana Peire resigned as board member in Desember 2023.
Jònas Einarsson has been the Chair since 2018. Leiv Askvig has been the head of the Audit Committee since 2019. Kristin L.A. Wilhelmsen was a member of the Audit Committee from 2019 to 2020, and was replaced by Haakon Stenrød as a member from 2020.
Note that the table below shows the accumulated board remuneration for each respective year, which will be paid the following year.
| REMUNERATION TO THE BOARD OF DIRECTORS (NOK 1 000) |
2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|
| Jónas Einarsson (Chairman of the Board) | Total NOK | 450 | 400 | 400 | 400 | 400 |
| Change NOK | 50 | - | - | - | 125 | |
| Change % | 13 % | 0 % | 0 % | 0 % | 45 % | |
| Ketil Fjerdingen (Board member) | Total NOK | 250 | 200 | 200 | 200 | 200 |
| Change NOK | 50 | - | - | - | 63 | |
| Change % | 25 % | 0 % | 0 % | 0 % | 45 % | |
| Leiv Askvig (Board member) | Total | 320 | 235 | 235 | 235 | 235 |
| Change NOK | 85 | - | - | - | 98 | |
| Change % | 36 % | 0 % | 0 % | 0 % | 71 % | |
| Henrik Schüssler (Board member) | Total | 250 | 200 | 200 | 200 | 200 |
| Change NOK | 50 | - | - | - | 63 | |
| Change % | 25 % | 0 % | 0 % | 0 % | 45 % | |
| Kristin L.A. Wilhelmsen (Board member) | Total | - | - | - | 220 | 220 |
| Change NOK | - | - | - | - | 83 | |
| Change % | - | - | - | 0 % | 60 % | |
| Kari Grønås (Board member) | Total | 250 | 200 | 200 | 200 | 200 |
| Change NOK | 50 | - | - | - | 200 | |
| Change % | 25 % | 0 % | 0 % | 0 % | n.a. | |
| Eva S. Dugstad (Board member) | Total | 250 | 200 | 200 | 200 | 200 |
| Change NOK | 50 | - | - | - | 200 | |
| Change % | 25 % | 0 % | 0 % | 0 % | n.a. | |
| Håkan Englund (Deputy Board Member) | Total | - | - | 200 | 200 | 200 |
| Change NOK | - | - | - | - | 200 | |
| Change % | - | - | 0 % | 0 % | n.a. | |
| Aitana Peire (Board Member until 13.12.23) | Total | 170 | 200 | 200 | 30 | - |
| Change NOK | -30 | - | 170 | 30 | - | |
| Change % | -15 % | 0 % | n.a. | n.a. | - | |
| Haakon Stenrød (Board Member) | Total | 290 | 220 | 220 | 30 | - |
| Change NOK | 70 | - | 190 | 30 | - | |
| Change % | 32 % | 0% | n.a. | n.a. | - | |
| Total remuneration | 2 230 | 1 855 | 2 055 | 1 915 | 1 855 |
Board of Directors' statement on the remuneration report
It is the view of the Board of Directors that remuneration of the Board of Directors and of the Management Team for the financial year 2023 has been conducted in alignment with Ultimovacs' remuneration policy as approved by the general assembly on 20 April 2023 and according to the requirements in the Norwegian Companies Act § 6-16 b.
The report will be presented for an advisory vote at the Annual General Meeting planned for 18 April 2024.
Board of Directors and CEO of Ultimovacs ASA
Oslo, 20 March 2024
Jónas Einarsson Kari Grønås Eva S. Dugstad Chairman of the Board Board member Board member
Henrik Schüssler Ketil Fjerdingen Leiv Askvig
Sign Sign
Haakon Stenrød Carlos de Sousa Board member CEO
Sign Sign Sign
Board member Board member Board member
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INDEPENDENT AUDITOR'S ASSURANCE REPORT ON REPORT ON SALARY AND OTHER REMUNERATION TO DIRECTORS
To the Annual Shareholders' Meeting of Ultimovacs ASA
Opinion
We have performed an assurance engagement to obtain reasonable assurance that Ultimovacs ASA's report on salary and other remuneration to directors (the remuneration report) for the financial year ended 31 December 2023 has been prepared in accordance with section 6-16 b of the Norwegian Public Limited Liability Companies Act and the accompanying regulation.
In our opinion, the remuneration report has been prepared, in all material respects, in accordance with section 6-16 b of the Norwegian Public Limited Liability Companies Act and the accompanying regulation.
Board of directors' responsibilities
The board of directors is responsible for the preparation of the remuneration report and that it contains the information required in section 6-16 b of the Norwegian Public Limited Liability Companies Act and the accompanying regulation and for such internal control as the board of directors determines is necessary for the preparation of a remuneration report that is free from material misstatements, whether due to fraud or error.
Our independence and quality control
We are independent of the company as required by laws and regulations and the International Ethics Standards Board for Accountants' Code of International Ethics for Professional Accountants (including International Independence Standards) (IESBA Code), and we have fulfilled our other ethical responsibilities in accordance with these requirements. The firm applies International Standard on Quality Management, which requires the firm to design, implement and operate a system of quality management including policies or procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.
Auditor's responsibilities
Our responsibility is to express an opinion on whether the remuneration report contains the information required in section 6-16 b of the Norwegian Public Limited Liability Companies Act and the accompanying regulation and that the information in the remuneration report is free from material misstatements. We conducted our work in accordance with the International Standard for Assurance Engagements (ISAE) 3000 – "Assurance engagements other than audits or reviews of historical financial information".
We obtained an understanding of the remuneration policy approved by the general meeting. Our procedures included obtaining an understanding of the internal control relevant to the preparation of the remuneration report in order to design procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control. Further we performed procedures to ensure completeness and accuracy of the information provided in the remuneration report, including whether it contains the information required by the law and accompanying regulation. We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
2
Oslo, 20 March 2024 ERNST & YOUNG AS
The auditor's report is signed electronically
Erik Søreng State Authorised Public Accountant (Norway)
Independent auditor's assurance report on report on salary and other remuneration to directors - Ultimovacs ASA 2023
A member firm of Ernst & Young Global Limited
Ultimovacs ASA
Ullernchausséen 64 0379 Oslo Norway
E-mail: [email protected]
Telephone: + 47 413 80 080
Ultimovacs AB
Dag Hammarskjölds Väg 30 752 37 Uppsala Sweden
www.ultimovacs.com
Our mission is to extend and improve the life of patients by directing the immune system against the core of cancer.
We will provide universally accessible solutions.