The company has announced that further to the decisions to discontinue the PARADIGME study, restructure the company and appoint Carnegie Investment Bank to explore strategic options, the senior leadership team will be consolidated, and the current CEO Erik Skullerud will transition out of his role.
Nordic Nanovector’s Chief Financial Officer Malene Brondberg will assume the combined position of CFO and interim CEO while the company continues to work with Carnegie to explore strategic options.
Staff reductions at all levels of the company
The Board has initiated this strategic exercise with the aim of optimizing shareholder value, following the slow recruitment and subsequent disappointing data from the PARADIGME clinical trial, while in parallel recognizing the need to conserve resources during the process, it states in a press release.
“It is important that we make the changes needed to restructure our business in the difficult circumstances we now face following the disappointing results from Betalutin in third line FL. As a result, we have now implemented staff reductions at all levels of the company to minimize costs. While difficult, we believe this is the most responsible course of action given the interests of our stakeholders,” says Chairman, Jan H. Egberts.
Photo of Erik Skullerud: Nordic Nanovector