Foventa Therapeutics, a biotechnology company focused on novel therapies for retinal vascular diseases, announced on Wednesday that it has further strengthened its management team with the appointments of Dr Zaiba Malik as chief medical officer (CMO) and Julia Jones as chief financial officer (CFO).

They will assist recently appointed CEO Olav Hellebø in securing Series A funding to take lead asset FOV407 into a Phase IIb trial.

FOV407 is being developed as a topical eye drop for non-proliferative diabetic retinopathy (NPDR), a common complication of diabetes that can lead to irreversible vision loss. Foventa said the new team believes that FOV407 can become the first topical therapy for diabetic retinopathy.

Both Malik and Jones bring decades of biotech industry experience to Foventa. Malik has worked for over 20 years in clinical ophthalmology and ophthalmic drug development across industry and academia, most recently as global medical director and therapeutic area lead for Ophthalmology at Medpace. She received her medical degree from the University of Miami School of Medicine and completed her ophthalmology residency at Henry Ford Hospital in Michigan. She continues to see patients in clinical practice and participate in humanitarian ophthalmology, bringing a unique perspective on the impact of advances such as FOV407 in eye care.

Having qualified as a chartered accountant with PWC, Jones has bult up a strong track of supporting biotech companies in both the US and Europe from start up through to exit, assisting in securing and then the management of circa GBP1.5 billion of Venture Capital funds. Notable clients to date include Benuvia Operations Inc, PepGen Inc, MiroBio Ltd, Amphista Therapeutics Ltd, and Congenica Ltd.