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(Alliance News) - Faron Pharmaceuticals Ltd on Monday said it appointed a new interim chief financial officer to replace the outgoing James O'Brien.
The Turku, Finland-based clinical-stage biopharmaceutical company, focused on treating cancers via immunotherapies, said Yrjo Wichmann will take over the role immediately, having previously served as Faron's CFO from 2014 to 2019.
Wichmann was most recently senior vice president in Financing & IR at Faron, with the company describing him as an "accomplished biotech and financial executive with over 20 years' experience in financing and investment banking".
Prior to his roles at Faron, Wichmann held a number of senior positions within the life sciences and biotechnology sector at IP Finland Oy, Biohit Oyj, CapMan Oyj, FibroGen Europe Oyj and D Carnegies & Co AB.
"As a former CFO of this company and, most recently, our senior vice president, Financing & IR, Yrjo is well positioned to take up the role of interim CFO whilst we look for a permanent replacement." said Chief Executive Officer Markku Jalkanen.
"On behalf of the board, I would like to thank Jim for his service to Faron. His contributions, during very challenging market conditions, have been considerable and very much appreciated, and we wish him all the best in his next role."
Incoming Interim CFO Wichmann said: "As we continue to progress our ambitious program for bexmarilimab, my priority is to advance a financing plan that will secure our cash runway and enable the rapid development of this important, novel immunotherapy, which has enormous potential for patients and shareholders. I look forward to working with Markku, the board and incoming CEO Juho Jalkanen to deliver on our next milestones."
Shares in Faron were up 2.4% to EUR1.47 each in Helsinki on Monday afternoon, but fell 3.0% to 123.67 pence each in London.
By Greg Rosenvinge, Alliance News senior reporter
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