MORRISVILLE – Anthony DiTono is retiring as CEO of Tenax Therapeutics and will be replaced by Christopher Giordanao, a former senior executive at life science giant Iqvia.

The company (once known as oxygen Bioterapeutics) announced the change Wednesday. It also disclosed plans to raise $10 million through a sale of stock to a single, unidentified life science investor.

Tenax (Nasdaq: TENX) focuses on cardiovascular and pulmonary diseases.

“We thank Tony for his dedicated service and many contributions to Tenax and wish him the best in his well-deserved retirement from executive management. While we will miss Tony’s services and involvement in our Company, this transition will not affect Tenax’s focus or direction,” said Tenax Chair Gerald Proehl.

“We are looking forward to having Chris contribute his extensive experience with bringing pharmaceutical products to market as Tenax’s new leader, and to continuing to enhance shareholder value through the development and approval of our products for use by patients suffering from cardiovascular and pulmonologic diseases, which is further supported by the financing we are announcing today,” he added.

Giordano, 47, has more than 20 years of experience in clinical research. He was most recently president of Iqvia Biotech and Iqvia MedTech(formerly known as Novella Clinical).