hVIVO has announced that Richard Cotton will be appointed as interim CFO from 30 September.

His appointment comes as the purpose-built, full-service international clinical development partner’s current CFO, Stephen Pinkerton, informed the board of his intention to retire after 10 years at the company.

Cotton is an experienced financial leader, having previously served as CFO of several life sciences companies, including the FTSE 100 company Dechra Pharmaceuticals, and medical device and drug formulation firm Consort Medical.

hVIVO’s board said it is in the final stages of its process to select a new CFO and expects to make a further announcement in due course.

His appointment comes as the firm reported that its contracted order book more than doubled between 31 December to 30 June, totalling £65m, while its revenue dropped by 32% to £16.3m, reflecting the second-half weighting guided at the start of the year.

Yamin ‘Mo’ Khan, CEO at hVIVO, stated: "I would like to thank Stephen for his exceptional commitment and contribution to hVIVO over the past decade. During that time, he has played an important role in hVIVO's evolution, including supporting the acquisitions of CRS and Cryostore, strengthening the Group's financial foundations and helping position the business for its next phase of growth. On behalf of the Board and everyone at hVIVO, I thank him for his service and wish him every success for the future."

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