LONDON (Alliance News) - Faron Pharmaceuticals Ltd on Tuesday said it appointed a new medical director, in a move to strengthen its executive team as the company looks to expand its clinical activities.
The AIM-listed company named Matti Karvonen as its new medical director. Karvonen, who has a background in clinical neurology, will be responsible for overseeing Faron's drug development strategy.
Faron said Karvonen has experience with international pharmaceutical organisations, including Roche, Biogen Idec and Novartis.
Chief Executive Officer Markku Jalkanen said the appointment comes as Faron expends its clinical activities.
"Our lead drug candidate Traumakine, for the treatment of Acute Respiratory Distress Syndrome is now in a pan-European Phase III INTEREST trial, while clinical development for Clevegen, our novel cancer immunotherapy drug candidate is under active planning. Dr Karvonen's experience in taking drugs through development programmes will provide an invaluable insight into the needs of both ARDS and cancer patients," Jalkanen said in a statement.
Karvonen will play a "central role" in expanding the clinical programmes of Traumakine and Clevegen, Faron said.
Shares in Faron were untraded Tuesday morning, having closed at 257.50 pence Friday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Faron Pharma (FARN)