SAN DIEGO, March 31 /PRNewswire-FirstCall/ --- Orexigen(R) Therapeutics, Inc. (Nasdaq: OREX), a biopharmaceutical company focused on the treatment of obesity, today announced that its Board of Directors has appointed Michael Narachi as President and Chief Executive Officer of the Company, effective immediately. Narachi succeeds Eckard Weber M.D., Executive Chairman and Interim President and CEO.
"Michael brings nearly a quarter century of biotechnology and pharmaceutical experience in clinical development, commercialization, strategic business development and planning to Orexigen," said Eckard Weber, M.D., Executive Chairman and Interim President and CEO of Orexigen. "We are confident that his broad expertise will be instrumental as we focus on FDA approval of Contrave(R), exploring partnership opportunities and executing on broader business strategies."
As President and CEO, Narachi will see through the completion of the remaining three Phase 3 trials for Contrave (naltrexone sustained release (SR)/bupropion SR) and its NDA filing, which is on track for the first half of 2010. Narachi also will oversee the development of Empatic(TM) (zonisamide SR/bupropion SR), which is in the later stages of Phase 2 clinical development.
"I'm thrilled to join the Orexigen team and to have the opportunity to impact the treatment of obesity, a disease of epidemic proportions worldwide with a significant unmet need," said Narachi. "I believe in the Orexigen opportunity and, in particular, in the potential of this approach to help patients who suffer from obesity and its related co-morbidities."
Prior to joining Orexigen, Narachi, age 50, served as Chairman, Chief Executive Officer and President of Ren Pharmaceuticals, Inc., a private biotechnology company and Executive Chairman of the Board of Naryx Pharma,
|SOURCE Orexigen Therapeutics, Inc.|
Copyright©2009 PR Newswire.
All rights reserved