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news.Sutro Biopharma, formerly known as Fundamental Applied Biology and a developer of next-generation protein therapeutics, has appointed William Newell as its new CEO. Daniel Gold, the company's previous CEO, has been appointed as president and COO.
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Mr Newell has been a senior executive within the biotechnology industry for more than 10 years. He served as the president of Aerovance, a clinical stage biotechnology company developing therapeutics for respiratory and dermatologic diseases. He was also the chief business officer of QLT, a publicly traded biotechnology company that develops and commercializes ocular therapeutics.
Sutro Biopharma also recently relocated its corporate headquarters and R&D operations from Menlo Park to an expanded facility in South San Francisco, California. The new research facility includes both laboratory space and a pilot scale facility to support the company’s R&D programs.
David Mack, Sutro board member and a director at Alta Partners, said: “With Sutro’s robust technical progress and ambitious 2009 goals, the board felt the timing was right to bring aboard a proven business leader.
“Bill Newell is a talented biotechnology executive with experience leading both venture-backed companies and established publicly traded firms. The strong combination of skills and experience that he brings in business development, legal and finance will serve Sutro Biopharma well as the company enters its next phase of development and growth.”