Oncorena AB, a Sweden-absed company that develops a new and potentially ground-breaking treatment for patients with advanced kidney cancer, announced on Monday that it has named Professor Borje Haraldsson as its new CEO.

Haraldsson is to succeed Dr Lars Grundemar, who will leave the company.

The company said that professor Haraldsson, one of the founders of Oncorena, has played a crucial role in the development of the company's drug candidate orellanine and is considered a world leader in clinical and experimental renal research. He has been serving as chief scientific officer and part of the firm's management team. He has held a management position at Novartis in Basel, Switzerland.