I would suggest to create a new project with the proper target in V7.40.1, and simply import all the example source files into this project. Including the startup (assembler) file(s).
You could try the same with the *.icf file (the linker config).
I did this about a dozen times, to port Eclipse-based, IAR or other STM32 projects to the Segger ES toolchain I use.
Unless your version does not support the MCU of this board.
In this case, I would recommend to update IAR WB to th latest version.
Sticking to specific compiler/toolchain version makes sense were certifications for the final product is involved, i.e. devices with safety or security related certificates. A toolchain change would require an expensive re-certification.