Novan is expanding its management team with a new chief development officer position. The company, which went public last year, also is looking for a new chief financial officer.
The management changes come shortly after Novan recently decided to press ahead with its lead product that is intended as a treatment for acne.
Paula Brown Stafford, formerly president of clinical development at Quintiles, takes over as the chief development officer. Novan said the position was added as part of what it described as moves to “strengthen the Company’s clinical operations infrastructure and streamline the research and development group as the Company prepares to execute multiple late-stage development programs.”
Stafford retired from Quintiles in December 2015 after a 31-year career.
Taking over as interim chief financial officer is William Hodges. He recently served as CFO at Pozen Pharmaceuticals in Chapel Hill. That company recently was sold.
According to Novan, CFO Richard Peterson is “leaving to pursue other business interests.”
Stafford will be “responsible for the tactical execution of clinical trials and the establishment of statistics and data management functions,” Novan noted. She will work with Chief Medical Officer Dr. Joyce Rico as Novan gears up to seek FDA approval for its lead product known as SB204.
The multi-indication potential for each of Novan’s pipeline assets warrants an expansion of the Company’s clinical operations infrastructure, especially in light of our partnering strategy to create multiple, global development programs for our nitric oxide-releasing product candidates,” Stafford said in a statement. “I look forward to adding my experience and network of relationships to this management team as we execute on Novan’s vision.”
Novan also promoted Stanley Hollenbach to Senior Vice President of Research and Development.