Orexo appoints Fredrik Järrsten as new CFO
Orexo AB announces the appointment of Fredrik Järrsten as the new Chief Financial Officer (CFO), effective by early September 2022. He succeeds Joseph DeFeo, who has served for four years and will assist during the transition. Järrsten brings extensive experience from several life science companies, enhancing Orexo's capabilities for further development and expansion, particularly in digital therapeutics. The company reported total net sales of SEK 565 million in 2021, focusing on improving pharmaceuticals for substance use disorders.
- Appointment of Fredrik Järrsten as CFO strengthens Orexo's management team.
- Järrsten's extensive experience in life sciences and corporate development aligns with Orexo's growth strategy.
- Transition period may lead to temporary disruptions as Järrsten assumes the CFO role.
UPPSALA, Sweden, March 11, 2022 /PRNewswire/ -- Orexo AB (publ.), (STO:ORX) (OTCQX:ORXOY), announces today that the company has appointed Fredrik Järrsten as new Chief Financial Officer (CFO) and a member of the management team, starting at latest in early September, 2022. Fredrik Järrsten will succeed Joseph DeFeo.
Fredrik Järrsten has a long and successful career as CFO of several Swedish life science companies, most recently Oasmia Pharmaceutical AB and Karolinska Development AB. Fredrik Järrsten also has an extensive experience from corporate development such as business development and M&A, both as an executive, investor and advisor. With this experience, Orexo strengthens the capability to further develop the company and expand the commercial operations. Fredrik Järrsten will be located at Orexo's corporate head quarter in Uppsala, Sweden.
Nikolaj Sorensen, CEO & President of Orexo AB, said: "I am pleased to appoint Fredrik Järrsten as our new CFO. With an expanded business, including a broader pipeline and a new business area within digital therapeutics, Orexo will benefit from a CFO with extensive experience from the Swedish capital markets and from working with corporate development. I also want to thank Joe DeFeo for his contribution to Orexo during his four years as CFO. Joe has made a significant effort to improve the integration between the Swedish and US operations as well as securing a solid financial platform for the company."
Joe DeFeo will maintain his position as CFO until September, 2022, and continue to support the company during the transition to Fredrik Järrsten.
For further information, please contact:
Orexo AB (publ.)
Nikolaj Sørensen, President and CEO | Lena Wange, IR & Communications Director | ||
Tel: +46 (0)18 780 88 00 | Tel: +46 (0)18 780 88 00 | ||
E-mail: ir@orexo.com | E-mail: ir@orexo.com |
About Orexo
Orexo develops improved pharmaceuticals and digital therapies addressing unmet needs within the growing space of substance use disorders and mental health. The products are commercialized by Orexo in the US or via partners worldwide. The main market today is the American market for buprenorphine/naloxone products, where Orexo commercializes its lead product ZUBSOLV® for treatment of opioid use disorder. Total net sales for 2021 amounted to SEK 565 million and the number of employees was 121. Orexo is listed on the Nasdaq Stockholm Mid Cap (ORX) and is available as ADRs on OTCQX (ORXOY) in the US. The company is headquartered in Uppsala, Sweden, where research and development activities are performed.
For more information about Orexo please visit, www.orexo.com. You can also follow Orexo on Twitter, @orexoabpubl, LinkedIn and YouTube.
The information was submitted for publication at 8.00 CET on March 11, 2022.
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https://news.cision.com/orexo/r/orexo-appoints-fredrik-jarrsten-as-new-cfo,c3522923
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SOURCE Orexo
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