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Collegium Pharmaceutical promotes COO to CEO

Collegium Pharmaceutical Inc. said Joseph Ciaffoni will be promoted to CEO and will join the board, effective July 1.

Ciaffoni, who will succeed Michael Heffernan as CEO, has been serving as the company's executive vice president and COO since joining the company in May 2017.

Meanwhile, Heffernan will continue to serve as board chairman and continue to advise on Collegium's strategic initiatives following the succession.

Canton, Mass.-based Collegium Pharmaceutical is a specialty pharmaceutical company that develops and commercializes various products for pain.