Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.MacroChem has announced that on April 18, 2008 it acquired Virium Pharmaceuticals. In this acquisition MacroChem issued approximately 23 million shares of common stock to Virium shareholders.
Subscribe to our email newsletter
In connection with the acquisition, James Pachence, Virium’s president and CEO has been appointed CEO of the combined company and David Luci has been named president & chief business officer.
In accordance with the terms of the agreement, John Zabriskie, Michael Davis, Peter Martin and Paul Echenberg have resigned from the company’s board of directors. Dr Pachence and Mr Luci have been added to the board. In his capacity as president and chief business officer, Mr Luci will assume the responsibilities of COO, and continue his responsibilities as CFO and general counsel.
Robert DeLuccia, the combined company’s chairman, said: “This is a bold and proactive strategic move for MacroChem as the combined company will benefit from Virium’s pipeline of product candidates which target certain niche cancer indications and have already been tested in Phase I/II clinical trials.”