Affimed CEO Adi Hoess to step down, Andreas Harstrick appointed interim CEO
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- Immuno-oncology company Affimed (NASDAQ:AFMD) said on Monday that CEO and Director Adi Hoess will leave the company and the board, effective Jan. 15, and Andreas Harstrick has been appointed interim CEO.
- Harstrick serves as chief medical officer at the company, and will assume additional responsibility to the current role.
- Outgoing CEO Hoess had joined Affimed in October 2010, and has served on the current role since September 2011.
- The company said it has initiated a comprehensive search process to identify a successor.
- Additionally, Affimed said it will reduce its workforce by up to 50%.
- The company will dissolve its research and preclinical development departments, considering its narrowed strategic priorities.
- The company is set to direct all resources towards advancing the development of its clinical programs.
- The restructuring plan is expected to extend the company’s cash runway into H2’25.
- Source: Press Release