RAMSEY, N.J. and BOCA RATON, Fla. - ADMA Biologics, Inc. (NASDAQ:ADMA), a biopharmaceutical company, announced today that Brian Lenz will transition from his role as Executive Vice President and Chief Financial Officer to a consulting position starting April 1, 2024. Lenz has been with ADMA Biologics for over a decade, contributing to the company's growth and its transition to profitability.
Adam Grossman, President and Chief Executive Officer of ADMA, will assume the role of Interim Chief Financial Officer upon Lenz's transition. The company has begun an executive search to find a full-time successor.
During his tenure, Lenz played a crucial role in ADMA's public offering, financing transactions, and the expansion of the ADMA BioCenters business unit. Lenz expressed his pride in the company's journey from a startup to a profitable entity with three FDA-approved products that serve patients with immune deficiencies.
ADMA Biologics specializes in the manufacture, marketing, and development of plasma-derived biologics for the treatment and prevention of infectious diseases. The company operates an FDA-licensed plasma fractionation facility in Boca Raton, Florida, and collects source plasma through its ADMA BioCenters subsidiary.
The company's product portfolio includes BIVIGAM for primary humoral immunodeficiency, ASCENIV for the treatment of PI, and NABI-HB, which provides immunity against hepatitis B.
The search for a new CFO is a significant step for ADMA as it continues to navigate the biopharmaceutical industry and its market challenges.
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