Montreal, QC – June 14, 2004 – Biotech company Theratechnologies has announced plans to hire a new chief executive and has promoted several senior executives, in order to prepare for late-stage product development and commercialization.
The company’s president and current chief executive officer, Luc Tanguay, explains its priorities are shifting around three new priorities. The priorities are recruiting the industry experience it is currently missing in late-stage business activities and product commercialization, putting more resources behind business development and partnership activities, and integrating research, clinical development and pharmaceutical development activities move products more efficiently through the pipeline.
Mr. Tanguay will continue in his current role until the CEO is in place. Thereafter, he will assume the role of senior executive vice president and chief financial officer.
Thierry Abribat, PhD, previously vice president and chief scientific ,officer will become executive vice president, business development. In his new role, Dr Abribat will be responsible for leadership and coordination of all product-partnering activities, an area of crucial importance at this stage of the company’s development.
Luc Vachon, PhD, previously vice president, drug development will add research activities to his responsibilities in his new role as executive vice president, research and development. In integrating the two activities he will work closely with Krishna Peri PhD formerly director, discovery, who becomes vice president, research and Pierre Perazzelli, vice president pharmaceutical development.
At the same time, the company announced that it has selected HIV-associated lipodystrophy as the first indication to be fully pursued in late-stage development with ThGRF, its growth hormone releasing factor analogue. It says it will proceed with the implementation of all requirements relative to this development, including interactions with regulatory authorities, with the goal of initiating a Phase III program later this year.