Immunovia initiates search for a new CFO to support commercialization in the USA

Rhea-AI Summary

Immunovia (IMMNOV: Nasdaq Stockholm), a pancreatic cancer diagnostics company, announced it is searching for a new Chief Financial Officer as it prepares to commercialize its test in the USA in the second half of 2025. The company seeks a CFO with diagnostics or med tech operating experience, US industry contacts, and expertise in communicating with global capital markets.

Current CFO Karin Almqvist Liwendahl will step down at the end of Q1 2025, after contributing to streamlining the organization, lowering operating costs, and reducing cash burn over the past three years. In the interim, CEO Jeff Borcherding and the finance team will assume financial leadership responsibilities.

Immunovia focuses on developing blood-based testing for early pancreatic cancer detection. The company estimates that 1.8 million high-risk individuals in the USA could benefit from annual surveillance testing, making it the world's largest market for pancreatic cancer detection.

Positive

• Planned commercialization of pancreatic cancer test in H2 2025
• Large addressable market with 1.8 million high-risk individuals in the USA
• Successful reduction in operating costs and cash burn

Negative

• Loss of experienced CFO during critical pre-commercialization phase
• Interim gap in dedicated financial leadership until new CFO appointment

LUND, Sweden, Feb. 21, 2025 /PRNewswire/ -- Immunovia (IMMNOV: Nasdaq Stockholm), the pancreatic cancer diagnostics company, today announces that it will be hiring a new Chief Financial Officer (CFO) as its focus turns to the US market.

As Immunovia transitions to commercializing its test in the second half of 2025, the company's financial leadership needs are changing. The launch of Immunovia's pancreatic cancer test in the USA creates a need for deeper expertise and relationships in the US diagnostics market as well as global capital markets. The company is conducting a search for a CFO with diagnostics or med tech operating experience, a network of US industry contacts, and a track record of successfully communicating with capital markets across different geographies.

With this move, Karin Almqvist Liwendahl, will be stepping down as CFO of Immunovia. 

"Karin has played an important role in the transformation of Immunovia over the last three years," says Jeff Borcherding, CEO and President of Immunovia. "Karin has helped us streamline the organization, lower operating costs, and reduce our cash burn. I appreciate all she has done and wish Karin the best in her next endeavor."

Karin will continue to fulfill her responsibilities as CFO until the end of the first quarter of 2025. Immunovia has initiated the recruitment process for a successor. In the interim period, financial leadership responsibilities will be assumed by Jeff Borcherding and Immunovia finance team members.

 
For further information, please contact
Jeff Borcherding, CEO
jeff.borcherding@immunovia.com

Immunovia in brief

Immunovia AB is a diagnostic company whose mission is to increase survival rates for patients with pancreatic cancer through early detection. Immunovia is focused on the development and commercialization of simple blood-based testing to detect proteins and antibodies that indicate a high-risk individual has developed pancreatic cancer. Immunovia collaborates and engages with healthcare providers, leading experts and patient advocacy groups to make its test available to individuals at increased risk for pancreatic cancer.

USA is the world's largest market for detection of pancreatic cancer. The Company estimates that in the USA, 1.8 million individuals are at high-risk for pancreatic cancer and could benefit from annual surveillance testing. Immunovia's shares (IMMNOV) are listed on Nasdaq Stockholm.

For more information, please visit www.immunovia.com.

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https://news.cision.com/immunovia-ab/r/immunovia-initiates-search-for-a-new-cfo-to-support-commercialization-in-the-usa,c4109691

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https://mb.cision.com/Main/13121/4109691/3279550.pdf

Press release (PDF)

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SOURCE Immunovia AB

FAQ

When will Immunovia (IMMNOV) launch its pancreatic cancer test in the USA?

Immunovia plans to commercialize its pancreatic cancer test in the second half of 2025.

How large is Immunovia's potential market in the USA for pancreatic cancer testing?

Immunovia estimates 1.8 million high-risk individuals in the USA could benefit from annual surveillance testing.

When is Immunovia's current CFO Karin Almqvist Liwendahl stepping down?

Karin Almqvist Liwendahl will step down as CFO at the end of the first quarter of 2025.

Who will manage Immunovia's financial responsibilities after the current CFO leaves?

CEO Jeff Borcherding and the Immunovia finance team will assume financial leadership responsibilities in the interim period.

What type of CFO candidate is Immunovia (IMMNOV) looking for?

Immunovia is seeking a CFO with diagnostics or med tech operating experience, US industry contacts, and expertise in communicating with global capital markets.