Avacta Therapeutics Appoints Mats Blom to Board as Audit Committee Chair
News related to:Avacta Therapeutics · 2 min read
Avacta Therapeutics, a clinical-stage biopharmaceutical company developing innovative cancer therapies, has appointed Mats Blom to its Board of Directors, effective immediately. Blom will also serve as the Chair of the Audit Committee, bringing extensive financial expertise and experience in the biotechnology and life sciences sectors to the company.
Blom's appointment comes as Avacta's CEO, Christina Coughlin, expressed enthusiasm about his addition to the board.
The pre|CISION® platform is a tumor-activated oncology delivery system that Avacta Therapeutics is developing. It uses a tumor-specific protease (Fibroblast Activation Protein or FAP) to concentrate highly potent payloads in the tumor microenvironment while sparing normal tissues. The lead clinical program is faridoxorubicin (AVA6000), a Gen One FAP-enabled pre|CISION® version of doxorubicin that delivers the payload directly in the tumor with limited peripheral blood exposure.
Blom's background includes serving as Chief Financial Officer at several life sciences companies, including Zealand Pharma A/S, where he oversaw the company's listing on Nasdaq and its initial public offering on Nasdaq OMX Copenhagen. He has also held CFO positions at Active Biotech and Anoto Group, both listed on European exchanges, and private companies NorthSea Therapeutics USA Inc, Modus Therapeutics, and Swedish Orphan International.
In addition to his new role at Avacta, Blom currently serves as Chairman of the Board of Egetis Therapeutics AB and Board member at Hansa Biopharma AB, both listed on the Nasdaq Stockholm exchange. He is also a Board member at privately held Pephexia Therapeutics ApS and was previously a Board member at Nasdaq-listed Altamira Therapeutics.
Paul Fry, who has been a member of the Avacta Board for the past seven years, has indicated his intention to step down from the Board effective September 30, 2026. Fry's departure will allow for an orderly transfer of his responsibilities to Blom.
Coughlin also extended her gratitude to Fry for his commitment to the company over the past seven years.
Avacta Therapeutics is focused on bringing innovative cancer therapies to patients and creating long-term value for shareholders. The company's pre|CISION® platform holds significant promise for patients with cancer, and Blom's leadership and experience are expected to further enhance the company's governance and strategic direction.