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news.InSite Vision, a developer of novel ocular pharmaceutical products, has announced that Louis Drapeau, the company's vice president and CFO, has been appointed interim CEO. Kumar Chandrasekaran will step down as CEO, the company said.
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Mr Drapeau will lead the day-to-day operations of the company while retaining his current CFO responsibilities. An active CEO search has been initiated. In addition, Evan Melrose has been named chairman of the board.
Prior to joining InSite Vision, Mr Drapeau served as CFO, senior vice president of finance at Nektar Therapeutics. Mr Drapeau has received both his undergraduate degree in mechanical engineering and a MBA from Stanford University.
Previously, Dr Melrose has served as managing director at PTV Sciences, a healthcare venture capital firm. Dr Melrose has received his BA from the University of Pennsylvania, his MD from Indiana University and his MBA from the Wharton School of the University of Pennsylvania.
Mr Drapeau said: “InSite Vision is in a position to deliver new and valuable ophthalmic products to patients. I am excited about the opportunity to work closely with Evan, the board and the employees of InSite to build on what is a strong foundation in ophthalmic care.”