GALASHIELS pharmaceutical firm ProStrakan has appointed the son of the business’ co-founder as its new chief executive.
Dr Tom Stratford will take over on September 1 from Dr Wilson Totten, who quit last year.
Dr Stratford’s father Harry started ProStrakan in 1995, before retiring as chairman two years later.
The 40-year-old said: “I am very proud to have been given this opportunity to take ProStrakan to the next stage in its development.
“It is undoubtedly a very exciting time for everyone involved in the business across Europe and in the US.
“My ambition for the business is to build on ProStrakan’s proven successes in licensing, late stage development, registration and commercialisation of products and to continue to grow the business profitably.”
ProStrakan was taken over by Japanese company Kyowa Hakko Kirin (KHK) in a £292million deal in April. Dr Yuzuru Matsuda, chief executive and president of KHK, said: “I am confident that Tom’s strong leadership skills and wealth of business experience in this industry will enable ProStrakan to further develop its business in Europe and the United States.
“I look forward to further growth of ProStrakan as a member of the KHK group and, as an important business partner for KHK, I underline our support for ProStrakan in the next stage in its development.”
Peter Allen, who will step down as acting chief executive to revert to the role of chairman, said the ProStrakan board was unanimous in its support for Dr Stratford as the company’s new chief executive.
“Tom’s rounded experience, his excellent relationship-building skills and his exciting vision for the business going forward combine to ensure that he is an excellent leader for the business,” said Mr Allen.
“This appointment ensures continuity for ProStrakan and underlines KHK’s previously stated intention for the business to be run as a stand-alone unit within the KHK group.”