Avid Bioservices Announces Appointment of Daniel Hart as Chief Financial Officer
July 17 2018 - 8:05AM
-- Senior Executive with Extensive Financial
Leadership Experience Further Strengthens Management Team; Company
Also Adds Senior Director of Business Development for Western
Region to Support Client Acquisition Efforts --
Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated
contract development and manufacturing organization (CDMO) working
to improve patient lives by providing high quality development and
manufacturing services to biotechnology and pharmaceutical
companies, today announced the appointment of Daniel Hart as chief
financial officer (CFO). Mr. Hart is a highly accomplished
financial professional with two decades of experience in senior
level positions with public and private companies spanning such
areas as financial stewardship, accounting, and fundraising
strategy, among others. In his role as CFO, he will be
responsible for overseeing and managing all of Avid’s accounting
and finance responsibilities.
Mr. Hart most recently served as CFO of ENO
Holdings, Inc., a family of companies focused on the residential
real estate market with offerings spanning brokerage, franchisor,
property management, title and escrow services. While with
ENO Holdings, he helped optimize the group’s accounting and finance
department with a focus on establishing repeatable processes in the
areas of financial statements, operating plans, cash forecasts and
organization budgets. Prior to that position, Mr. Hart served
as senior vice president, CFO and assistant secretary at SM&A,
a $100 million private equity owned management consulting firm that
was previously a Nasdaq-listed company. During his time at
SM&A, which included several financial leadership positions of
increasing responsibility, he was responsible for overseeing
financial stewardship and played a central role in various
financial transactions and corporate acquisitions. Mr. Hart
also previously served as corporate controller for Biolase
Technology, Inc., a Nasdaq-listed medical device manufacturer,
helping the company complete a $52 million secondary offering and
multiple corporate acquisitions. He earned a bachelor of
science degree in accounting from California Polytechnic State
University, San Luis Obispo.
In addition, Avid also announced the appointment
of Michael Faughnan as the company’s senior director of business
development for the western region. Mr. Faughnan has more
than 18 years of relevant biotechnology industry experience,
including tenures with CDMO industry leaders such as WuXi
Biologics, Abzena, Lonza Biologics, Eden Biodesign and Cytovance
Biologics. He most recently was senior director of business
development at WuXi Biologics, where he oversaw the west coast
sales team which established record sales figures under his
leadership. At Avid, Mr. Faughnan will play a key role in the
company’s new customer acquisition efforts on the west coast of the
US and Canada, while supporting all its existing clients in the
western half of the US.
“With Dan joining our team, we have added a
talented and experienced individual with all the critical skills
required for stewarding the financial activities of a growing
public company. As we continue to aggressively focus our
efforts on growing and diversifying our client base, Dan’s
expertise in executing financial strategies that positively impact
bottom-line results will prove valuable,” said Roger Lias, Ph.D.,
Avid’s president and chief executive officer. “We are also pleased
to bring Mike on board to oversee our business development efforts
in the western portion of the country and Canada He will team
with Sandra Carbonneau, our recently appointed director of business
development for the east coast, to drive our comprehensive,
nationwide new business acquisition effort.”
About Avid Bioservices,
Inc.Avid Bioservices is a dedicated contract development
and manufacturing organization (CDMO) focused on development and
cGMP manufacturing of biopharmaceutical products derived from
mammalian cell culture. The company provides a comprehensive
range of process development, high quality cGMP clinical and
commercial manufacturing services for the biotechnology and
biopharmaceutical industries. With 25 years of experience
producing monoclonal antibodies and recombinant proteins in batch,
fed-batch and perfusion modes, Avid's services include cGMP
clinical and commercial product manufacturing, purification, bulk
packaging, stability testing and regulatory strategy, submission
and support. The company also provides a variety of process
development activities, including cell line development and
optimization, cell culture and feed optimization, analytical
methods development and product characterization.
www.avidbio.com
Contacts:
Stephanie Diaz (Investors)
Vida Strategic Partners
415-675-7401
sdiaz@vidasp.com
Tim Brons (Media)
Vida Strategic Partners
415-675-7402
tbrons@vidasp.com
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