Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) announced that Al Moghaddam will be taking up the newly created role of chief development officer and, as a result will be stepping down from the company's board of directors.
The Canadian pharmaceutical company said that as CDO, Moghaddam will lead the design and implementation of strategies to identify and negotiate with financial parties to strengthen its capital structure.
He will work with Valeo’s senior management team to plan, review, and revise its development programs and support the company’s growth through building industry relationships and identifying product and M&A opportunities.
Moghaddam brings more than 25 years of global experience in life sciences, having held leadership positions within pharma, medical device, med tech and consumer markets, Valeo highlighted.
"In the short period of time Mr Moghaddam spent on the Valeo board of directors, he played an active role in our recently announced restructuring of our respiratory business unit", Valeo CEO Steve Saviuk commented.
"Al has a solid track record of delivering results and creating value, we look forward to his expertise as our chief development officer.”
Moghaddam expressed his excitement over joining Valeo at a “transformative time in its corporate development.”
“I look forward to working together with the rest of the leadership team, to ensure Valeo has a strong capital structure from which it can successfully pursue its ambitious growth prospects and continue adding to its leading product portfolio of innovative drugs,” he said.