Chairman Assumes Interim Leadership Responsibility
PRINCETON, N.J., April 10 /PRNewswire-FirstCall/ -- Pharmacopeia (Nasdaq: PCOP), an innovator in the discovery and development of novel small molecule therapeutics, today announced that Leslie J. Browne, Ph.D., has resigned as President and Chief Executive Officer and a member of the Board of Directors in order to pursue other interests. His resignation was effective April 9, 2008.
Joseph A. Mollica, Ph.D., Chairman of the Board, will assume day-to-day leadership responsibilities on an interim basis until a successor is appointed. A search will be undertaken to identify a successor.
Dr. Mollica stated, "We appreciate the contributions Les has made to the progress of the company since 2004 and wish him well. Pharmacopeia will build on its efforts in the development of pharmaceutical products for its own account and for its partners while maintaining a sound financial footing." Dr. Mollica added, "In the latter regard, the company will refocus its efforts in discovery and development to capture an optimum return. The company will be continuously evaluating its portfolio and scope of activities to maximize shareholder value."
Pharmacopeia is a clinical development stage biopharmaceutical company
dedicated to discovering and developing novel small molecule therapeutics
to address significant medical needs. The company has a broad portfolio of
clinical and preclinical candidates under development internally or by
partners including seven clinical compounds in Phase 2 or Phase 1
development addressing multiple indications including hypertension,
diabetic nephropathy, muscle wasting, inflammation and respiratory disease.
|SOURCE Pharmacopeia, Inc.|
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