UPPSALA, SWEDEN – LIDDS AB (publ) today announces that the Board of Directors has appointed the drug delivery company's CFO Jenni Björnulfson as the new CEO. She succeeds Matthew Lindon, who has been acting CEO of LIDDS since July 2023, and who is scheduled to leave the company at the end of the year. Jenni Björnulfson will take up the position as CEO on December 1, 2023.
"It is a good solution for LIDDS that Jenni takes over as CEO, given that the company is now entering a new phase where we, among other things, are evaluating various strategic options going forward and continue to review our costs. Matt will remain as Chief Scientific Officer (CSO) until the end of the year and assist Jenni as needed," said Pontus Ottosson, Chairman of the Board of LIDDS.
Matthew Lindon has held the role of CSO of LIDDS since March 2022. In July 2023, he was appointed acting CEO after former CEO Anders Månsson announced that he was leaving his position. Jenni Björnulfson will continue in the role of CFO in parallel with her new position.
"I look forward to taking on the role as CEO of LIDDS and will work actively to find constructive solutions for the company. Like many other smaller biotech companies, we have felt the straining market situation. Following the cost reductions initiated in June, we have created room to continue to seek the best long-term solution for LIDDS and LIDDS’ shareholders", said Jenni Björnulfson, CFO and incoming CEO.
Jenni Björnulfson (born 1971) has been CFO of LIDDS AB since 2021. Jenni has a solid background in finance and from the biotech sector, including being CFO of Promore Pharma and Cinclus Pharma. Jenni has also been an equity analyst at ABG Sundal Collier and worked with corporate finance at Alfred Berg and Handelsbanken. Jenni holds a master's degree in economics from the Stockholm School of Economics and has also studied at Karolinska Institutet.