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BioPorto appoints new CEO and CFO, makes board changes

Published: 08:45 20 Oct 2021 EDT

BioPorto - BioPorto appoints new CEO and CFO, makes board changes
Outgoing CEO Peter Mørch Eriksen will remain at BioPorto in a full-time advisory role until January 2022 and seek election to the board

BioPorto (OTC:THOXF, NASDAQ COPENHAG:BIOPO) A/S has announced the appointment of Anthony Pare as its new CEO, along with a new CFO.

The company said Pare, a US citizen, will join it directly from T2 Biosystems (NASDAQ:TTOO), a Nasdaq-listed in vitro diagnostics company where he served as chief commercial officer and presided over several successful product launches. He will start at BioPorto by mid-November 2021.

Prior to T2 Biosystems, Pare served as chief commercial officer at Hemanext (US), and in various commercial and business development leadership roles at Haemonetics (US), which specializes in blood processing and diagnostic technologies. 

READ: BioPorto sees ‘satisfying growth’ in 2Q, driven by strong sales of antibodies and research use sales of its flagship NGAL Test

“I am extremely pleased with the appointment of Tony as BioPorto’s new CEO. For 24 years, he has been leading product development, commercialization, marketing and operations improvements in leading medtech and diagnostic companies,” said Christopher Lindop, BioPorto’s board vice chairman, in a statement.

“During this time, he has delivered impressive results, driving business value, increasing product presence and growing sales, both in the US and globally. His is a very strong match with BioPorto’s commercialization plan for The NGAL Test and gRAD platform-based products.” 

Pare added: “I am very excited to take on the role of CEO of BioPorto from Peter Mørch Eriksen. BioPorto’s superior technologies have tremendous potential to fundamentally improve diagnosis and prognosis to benefit patients, physicians and healthcare systems. I look forward to leading BioPorto as our US and Denmark-based team works to realize the full value of the company’s pipeline.”

As previously announced, outgoing CEO Mørch Eriksen will remain at BioPorto in a full-time advisory role until January 2022. Furthermore, the board and key shareholders have asked and he has accepted to stand for election to the board. BioPorto will convene an Extraordinary General Meeting (EGM) for this purpose.

In parallel, after eight years of service, BioPorto said Board Chairman Thomas Magnussen has decided to resign as of the date of the EGM. Lindop, who joined BioPorto’s board in 2019, will succeed him.

New CFO

Meanwhile, separately, BioPorto announced the appointment of Neil Goldman, CPA, as its new executive vice president and CFO.

The company said Goldman, a US citizen, joins BioPorto from Chembio Diagnostics (NASDAQ:CEMI) Inc, a global developer and manufacturer of point-of-care tests for infectious disease. At Chembio, he served as executive vice president and CFO, during which he successfully helped to boost revenue, increased institutional shareholder base, interfaced with capital markets, and closed two foreign acquisitions.

“Neil brings three decades of valuable experience. He has forged strong relations with investors and global capital markets, raised capital reliably and successfully, optimized business operations, and expanded business through organic growth and strategic partnerships,” said Lindop.

Goldman added: “I am thrilled to join BioPorto at a pivotal point where the company is seeking regulatory approval in key markets and preparing its products and platforms for global commercialization. I believe BioPorto has a bright future and am eager to play a central role in realizing its full potential.”

Goldman plans to join BioPorto by mid-November 2021.

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

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