New CFO for Diurnal
Richard Bungay has been named as the new chief financial officer (CFO) of Diurnal; he has succeeded former CFO Ian Ardill who left the company on the 13 January “to pursue other business opportunities”.
Diurnal is a pharmaceutical firm specialising in the treatment of chronic endocrine (hormonal) ailments. Coming to the company with over 20 years experience in R&D, Bungay has worked across a number of biotech and pharma companies, most recently rare disease specialist Mereo BioPharma where he served as CFO and was instrumental in raising over £90 million through private placements.
Bungay excels in financing, investor relations and business development environments and has also held roles as CFO and later CEO at Chroma Therapeutics and director of Corporate Communications and Strategic Planning at Celltech Group until its acquisition by UCB in 2014.
“We warmly welcome Richard Bungay to the Company and the Board,” remarked Peter Allen, non-executive chairman of Diurnal. “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. We wish him well for the future,” he added.