Board of Directors has appointed its former executive vice preisdent Claus Bo Svendsen, as Chief Executive Officer, as it plans to pursue important objectives related to the the Settlement and License Agreement with Biogen.
To remind, Forward Pharma received $1.25 billion due to the January settlement with Biogen’s subsidiaries.
Svendsen will succeed Peder M. Andersen, who the head of the company since 2012. Andersen will retain his role as Chief Operating Officer and serve until September 1, 2017, Forward said.
Florian Schönharting, Chairman of the Board, said: “Claus’ dedication and strong work ethic make him ideally suited to lead the company as we pursue our opportunities in connection with the Settlement and License Agreement with Biogen.”
Forward Pharma said it plans to wind up its remaining research and development efforts and pursue an organizational realignment to reduce personnel and operating expenses by mid-year 2017.