Industry Veteran Russell L. Skibsted Named CFO Of Processa Pharmaceuticals

Processa Pharmaceuticals, Inc. (Nasdaq: PCSA), a company dedicated to advancing innovative chemotherapeutic treatments with enhanced effectiveness and safety profiles, has named Russell L. Skibsted as its new Chief Financial Officer (CFO). This appointment is effective immediately. Mr. Skibsted takes over from James Stanker, who is retiring but will continue to provide advisory support during the transition.

George Ng, Chief Executive Officer, said in a statement, “We are delighted to welcome Russell to Processa’s executive team. His proven record in finance and capital markets combined with a deep understanding of the complexities inherent in the life sciences make him an ideal fit for Processa. With three decades of highly relevant experience, Russell is a seasoned executive and will be a tremendous asset to the Company as we advance our pipeline through the clinic. I would like to thank Jim for his six years of trusted financial acumen and leadership contribution to the executive team. We look forward to continuing to work with Jim as he supports Processa through this transition period.

Mr. Skibsted brings nearly three decades of pharmaceutical industry experience to Processa Pharmaceuticals, Inc. (Nasdaq: PCSA). His expertise spans financial management, global business development, capital markets, investor relations, and operations. He has a track record of working with both public and private life sciences companies across various stages of development.

Most recently, he served as Senior Vice President and CFO at Alimera Sciences, a publicly traded global ophthalmic pharmaceuticals company currently being acquired by ANI Pharmaceuticals. Prior to this, he held roles as Executive Vice President, CFO, and Chief Business Officer at Rockwell Medical, a public company recognized as the second largest supplier of hemodialysis concentrates in the U.S.

Earlier, Mr. Skibsted was CFO at BioTime, now known as Lineage Cell Therapeutics. During his tenure, he also served as CFO for several of BioTime’s public and private subsidiaries, including Agex Therapeutics, OncoCyte Corporation, and Asterias Biotherapeutics. Before BioTime, he held CFO or Chief Business Officer roles at multiple public and private life science companies, including Aeolus Pharmaceuticals, Spectrum Pharmaceuticals, and Hana Biosciences.

Mr. Skibsted's early career includes serving as Portfolio Management Partner and CFO at Asset Management Company, a prestigious Silicon Valley venture capital firm, and as Vice President at GE Capital Services Structured Finance Group. He holds a BA in economics from Claremont McKenna College and an MBA from Stanford Graduate School of Business.