HAYWARD, Calif., April 2, 2012 /PRNewswire/ -- Intarcia Therapeutics, Inc. today announced that its Board of Directors has appointed Kurt Graves to the position of Chairman, President and Chief Executive Officer (CEO), effective immediately. Mr. Graves has been the Executive Chairman of the Board since August 2010 and Acting CEO since October 2011, bringing Intarcia more than 20 years of leadership and global experience in building and growing top-performing pharmaceutical and biotechnology companies. The Company today also announced its intention to locate its new corporate headquarters in the Boston, Massachusetts area, while keeping its early development capabilities and state-of-the-art manufacturing site in Hayward, California.
"Intarcia has proven itself an innovative and powerful force capable of creating game-changing medicines for serious diseases. The Board believes that Intarcia's full potential will be realized under the continued direct leadership and ongoing vision of Kurt Graves," said Director Bryan Roberts, Partner at Venrock. "Kurt's strategic insights across the business and his passion to bring new medicines to patients has lifted the Company to a whole new level. We believe his permanent appointment as CEO, combined with the Company's recent announcements, form a strong and promising future for the Company. In addition, our concurrent plan to locate Intarcia's headquarters in the Boston area reveals our level of commitment to this forward leadership."
Mr. Graves is credited by the Board for seeing major new opportunities early on at Intarcia and for reshaping a bold vision and strategic direction for the Company and its lead candidate for diabetes.
|SOURCE Intarcia Therapeutics, Inc.|
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