Biotechnology company Phio Pharmaceuticals Corp (Nasdaq:PHIO) said on Friday that its board of directors has named Gerrit Dispersyn Dr Med. Sc., as its new chief executive officer.

Effective 1 March 2019, Dr Dispersyn will succeed the company's outgoing chief executive officer Geert Cauwenbergh, Dr. Med. Sc., who will be available to support the transition and will remain as a member of the board of directors.

Currently, Dr Dispersyn serves as the board member, president and chief operating officer of the company that was spun-off from its parent company in April 2012.

Most recently, Dr Dispersyn was employed as the chief development officer of the company, a position he has held since April 2017.