Faron Pharmaceuticals Limited (AIM:FARN) told investors it has hired Dr Petri Bono as its new Chief Medical Officer (CMO), and he will join later this month.
Dr Bono, who starts the role on 15 August, was previously CMO at Terveystalo, Finland's largest private healthcare service provider, and before that, he held various leadership roles at Helsinki University Hospital.
He brings to the role extensive experience in oncology and immunology, Faron noted, with the new director recognized for contributions to numerous oncology trials from Phase 1 to 3.
Investors welcomed the appointment, with the London-listed share price rising nearly 6% to 158.91p in Tuesday's deals.
Dr Bono has published over 100 peer-reviewed papers, with his research focused on molecular and immunological oncology, making him well-suited and a good fit for Faron's immuno-oncology programs.
“I am eager to develop further Faron's novel and innovative immunotherapy program, and make bexmarilimab a cornerstone of future cancer care," he said in a statement.
Dr Bono added: "Bexmarilimab is an exceptional asset.
“It is an industry-leading agent in macrophage re-programming and has wide applicability in the treatment of a variety of cancers.
“Macrophages remain a key source of treatment resistance in tumours and in many instances, bexmarilimab has shown it can induce responses and overcome this resistance.”
Faron chief executive Dr Markku Jalkanen, meanwhile, added: "We are delighted to have such an experienced and proactive oncologist join us as the new CMO.
"This especially strengthens us in respect to our upcoming expansion plans into solid tumours, as we benefit from the experience and broader shoulders of a partner for late-stage development in haematology, maximizing our expertise and development capabilities in both solid tumours and haematological malignancies using our internal know-how and strategic partnerships to generate broader value for both patients and investors."
Dr Birge Berns, the company’s acting CMO seconded from tranScrip, will continue her role in developing bexmarilimab, Faron noted and is expected to continue to play a vital role in the company's talks with the FDA and ongoing development and regulatory strategy.