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news.Memory Pharmaceuticals has appointed Vaughn Kailian as interim president and CEO. Mr. Kailian has previously served as a managing director of MPM BioVentures IV since 2005.
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In support of Mr. Kailian’s appointment, four of the vompany’s largest shareholders, MPM Capital, Great Point Partners, Oxford Biosciences and Venrock, have agreed to a six-month lock-up agreement. Jim Sulat, who has served as the company’s president and CEO since 2005, has decided to step down from this position for personal family reasons and will serve as the company’s chief financial officer on a part-time basis.
Jonathan Fleming, chairman of the board of directors, Memory Pharmaceuticals, said: “Vaughn and the board will now commence the recruiting process for a permanent CEO to lead the company into the next phase of its development.”