Annexin Pharmaceuticals develops the drug candidate ANXV, which is a recombinant (synthetic) variant of Annexin A5, a natural protein. The candidate is being evaluated in a clinical proof-of-concept phase II study in the serious eye disease retinal vein occlusion (RVO) in the USA and in addition in an imaging study in the same indication in the Netherlands.
ANXV has shown potential in a number of indications in preclinical studies, not least in cancer. At the turn of the year, Annexin announced that the company has chosen the cancer area as the next focus for the candidate. Read more here.
New CFO strengthens Annexin's management
In parallel with the study work with the phase II study and the targeted investments in the cancer area, Annex has also made changes to its management. On March 21, the company announced that it had recruited Susanne Andersson as the new Chief Financial Officer, CFO starting April 11. Susanne takes over after Henrik Palm, who is retiring.
Susanne has solid experience in finance, financing and IR and has held the role of CFO in a number of listed companies such as Sedana Medical, ChromoGenics and Pricer.
CFO tells more
BioStock spoke with Susanne Anderssons in connection with her taking up her new position.
Susanne, tell us a little about your background and what led you into a career in finance?
– I grew up in an entrepreneurial family and have always been interested in strategy, financial analysis, people and culture. It has always been energizing to analyze and convert numbers into words while also anchoring it to what is happening in the outside world.
How will your experiences be used in the role as CFO at Annexin Pharmaceuticals?
– During my career, I have largely worked in listed companies and thus hope to be able to contribute experience in strategy, financial analysis and communication in the form of public investor presentations and capital raising.
Do you see any specific financial trends in the biotech industry, and how do you stay up to date on these trends to base your decision-making on?
– It has been a challenging few years for a number of life science companies during the corona pandemic, which has made it difficult to recruit patients to clinical studies, leading to delayed study results and thereby increasing costs. The currently weak krona has also made it difficult for Swedish development companies with clinical studies abroad.
– I read industry magazines, various business reports and general information to keep myself as updated as possible before making decisions.
What are the biggest opportunities and challenges as CFO at a smaller company like Annexin?
– The advantage of a smaller company is that we can be quick with effective decisions as the composition of the few employees are experts in their respective fields. The challenge may be to reach out internationally to future potential investors and stakeholders.
Finally, what are you most looking forward to in your new role?
– What attracted me to Annexin Pharmaceuticals is the drug candidate ANXV, which also has potential in cancer, as well as the expert competence that the dedicated employees and board of directors within the company possess. This will be an exciting journey!