Dive Brief:
- Jeff Farrow is set to take the financial helm of Irvine, Calif.-based biopharmaceutical company Tarsus Pharmaceuticals, effective immediately, the company announced Monday. He will also be in charge of chief strategy officer duties.
- The incoming CFO is replacing Leo Greenstein who has served the company as finance chief since 2020. Greenstein is moving on to “pursue other professional interests,” according to the company statement.
- Farrow joins Tarsus with over two decades of experience in biotech. Most recently, he was CFO of Global Blood Therapeutics, Inc., where he played an integral part in the leadership team that secured regulatory approval and successfully commercialized the medication Oxbryta for the treatment of sickle cell disease, the release said.
Dive Insight:
Before his time at Global Blood Therapeutics, Farrow held other CFO roles at ZS Pharma and Hyperion Therapeutics, Inc., where he provided strategic and financial leadership for product development, according to his LinkedIn profile.
Farrow’s focus in his new role will be in creating an entire new category of eyecare, specifically with product development to help patients suffering from Demodex blepharitis — a common lid margin disease resulting in eyelid margin inflammation and redness.
Farrow’s proven track record in “supporting companies as they evolve into successful commercial enterprises – will help position us to transform into a leading eye care company,” said CEO and Chairman Bobak Azamian, M.D., Ph.D in the statement.
Many biotech companies have faced headwinds in recent months with pressure to continue to raise funding for expensive research projects, despite the macroeconomic environment and unfavorable conditions.
The biopharmaceutical company on March 13 reported a net loss for 2022 of $62.1 million, compared to $13.8 million in 2021, according to a filing with the Securities and Exchange Commission.
