BioAmber Inc. has announced that Jean-Francois Huc has resigned as President and CEO and Fabrice Orecchioni, the company’s COO, has been named President, effective immediately.
In his role as COO over the past four years, Fabrice has overseen the construction, start-up and operation of the manufacturing plant in Sarnia and the management of the Mitsui JV. Fabrice has also been extensively involved in the negotiations with CJ CheilJedang for the proposed China JV.
Mr. Huc, who stepped down for personal reasons, will remain a member of the board of directors and will also assume an advisory role with the management team to help ensure a smooth transition.
The agreement, signed last month, includes an upfront payment of $1bn and $400m in regulatory milestone payments. The acquisition introduces AIO-001, a long-acting anti-thymic stromal lymphopoietin (TSLP) monoclonal antibody, into GSK’s pipeline.
Vertex Pharmaceuticals and CRISPR Therapeutics have scored another regulatory approval for Casgevy (exagamglogene autotemcel) after the European Commission granted conditional marketing authorisation to the gene therapy.
US biopharmaceutical company Gilead Sciences is to acquire CymaBay Therapeutics for $4.3 billion. Gilead offered to purchase all outstanding shares of CymaBay for $32.50 per share in cash. CymaBay, based in the US near San Francisco, California, has developed the investigational drug seladelpar, which is currently in clinical Phase 3.