Unilife CFO leaves, interim replacement named
Richard Wieland is leaving Unilife Corp. after four years as executive vice president and CFO, and Dennis Pyers has been named interim CFO, the York County-based company announced today.
“I’ve spent the last 40 years helping medical and life science companies manage their growth and development,” Wieland said in a news release. “With Unilife now well financed through its $60 million deal with OrbiMed, and set to become the global leader for injectable drug delivery systems, it’s the right time to step aside in favor of a new CFO who can lead and support Unilife during its new phase of business growth. It has been an honor to serve the CEO, Board and shareholders of Unilife. Dennis will do an outstanding job during this transitional period and I fully support the Board’s decision to appoint him as Interim CFO.”
Pyers, a CPA, has served as chief accounting officer, vice president and controller of Unilife since July 2010.
“Since our listing on NASDAQ in 2010, Rich has helped transform Unilife into a dynamic business that is redefining the market for injectable drug delivery systems,” Alan Shortall, chairman and CEO of Unilife, said in a news release. “We thank Rich for his skill and guidance during this important period and wish him the best. I know we can count on Dennis, who has 30 years of financial experience, including 25 years as a partner and auditor at KPMG, to serve in this interim role as we search for and transition to a new CFO that will complement our future needs as a large, rapidly growing and highly innovative industry leader.”
Unilife trades its shares on the Nasdaq under the ticker symbol UNIS. The company is heavily invested in the future, with a number of long-term deals announced last year but little money coming in presently. A lawsuit recently filed by a shareholder says that over the past two fiscal years, the company brought in less than $10 million in revenue while reporting operating losses of more than $100 million.