Swiss biotechnology company Serono has reshuffled its senior management, appointing depute chief executive Jacques Theurillat as head of strategic corporate development, with the task of managing the firms acquisition and licensing activities.

Leon Bushara, who formerly held this role at Serono, has reported moved to a UK biotechnology company. Serono also said that its Europe and International business operations would be reorganised into two regions, with Roberto Gradnik acting as the senior executive vice president, Europe, and Anders Harfstrand, taking the equivalent role for International.

The appointments emphasise the importance of axcqisitions and icensing to Serono as it tries to reduce its reliance on multiple sclerosis drug Rebif (interferon beta-1a). Last month the company ordered an increase in share capital to fund acquisitions, after abandoning an earlier plan to find a buyer for the business.

Serono said at the time it could fund a transaction up to the value of $10 billion using shares and raising cash.