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news.Archemix, a US-based biotechnology company, has appointed Kenneth Bate as its new president and CEO. Mr Bate is a biotech executive with more than two decades of leadership experience in the industry.
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As part of the management transition plan, Archemix also announced that the current president and interim CEO Duncan Higgons has accepted a position with another private biotechnology company and will be departing the company.
Mr Bate joins Archemix from NitroMed where he served as president and CEO. Previously, he held positions as executive vice president, head of commercial operations and CFO of Millennium Pharmaceuticals and as vice president of sales and marketing and CFO at Biogen (now Biogen Idec).
Currently a director of Cubist Pharmaceuticals and Aveo Pharmaceuticals, Mr Bate is a graduate of Williams College and The Wharton School of the University of Pennsylvania, where he earned an MBA.
Peter Barrett, partner at Atlas Venture and the lead director of the Archemix board of directors, said: “Ken’s proven track record of achievement as a life sciences executive in a variety of roles and as an advisor to the industry makes him an ideal leader for Archemix. We look forward to continued execution of the Archemix business strategy under Ken’s leadership.”