Diurnal appoints Richard Bungay as CFO
Specialty pharmaceutical company Diurnal Group announced the appointment of Richard Bungay as chief financial officer, effective 16 January.
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The AIM-traded firm said Bungay succeeds Ian Ardill who gave notice of his resignation to pursue other business opportunities.
Ardill will leave Diurnal on 13 January, and will be available to support an orderly handover.
Diurnal said Bungay has over 20 years of experience in corporate roles within research and development-focused companies within the biotechnology and pharmaceutical sector, including as CFO of both public and private companies, with a particular focus on financing, investor relations and business development.
Most recently, he has been CFO and chief operating officer of Mereo BioPharma Group, a biopharmaceutical company focused on rare and specialty diseases.
During his time at Mereo, Bungay was a key member of the executive team raising funds totalling over £90m, through a private placement at the launch of Mereo in July 2015 and a subsequent private placing and introduction of its shares on AIM in June 2016.
“We warmly welcome Richard Bungay to the company and the board,” said chairman Peter Allen.
“Richard's extensive experience of the biotechnology and pharmaceutical sector, including his recent experience in another public company focused on rare and specialty diseases, will be invaluable as Diurnal strides towards realising its ambition of becoming a world leading endocrinology specialty pharma company.
“The board would like to thank Ian for his contribution and hard work during this formative time for Diurnal.”