London-listedannounced to investors the appointment of Leo Toole to the role of Chief Financial Officer on Thursday.
Leo was previously Interim Chief Financial Officer of Open Orphan and Finance Director of the group's division following the merger with hVIVO which was completed in January 2020.
As noted in the Admission Document of Open Orphan, the Company was undertaking an active search for a CFO to join the Board -- following the half year period end in July 2019, the Company appointed Leo as Interim CFO.
Leo brings over 20 years’ experience in senior finance roles in pharmaceuticals, medical technology and FMCG sectors.
In particular, he has held senior finance positions at Procter and Gamble, ResMed and Sublimity Therapeutics and has worked extensively in the venture capital space across both the UK and Ireland.
Shares in Open Orphan were trading flat at 5.95p during Thursday trading.
The company intends to appoint Leo as CFO as soon as possible, subject to the satisfactory completion of regulatory due diligence checks.
Commenting on the appointment, Trevor Phillips, CEO of Open Orphan said, “Leo brings relevant industry experience and public market experience to the Company and we look forward to him joining the PLC board upon the completion of his regulatory due diligence checks.”
“Leo has worked with Open Orphan for the past year and is therefore well placed to assist with the rapid integration of hVIVO, deliver on our synergies programme and target profitability in the near term,” said Cathal Friel, Executive Chairman of Open Orphan.
He added, “We feel he is an important addition the executive team as we target the rapidly growing CRO pharmaceutical services sector.”
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