BioCentury
ARTICLE | Company News

Adherex cancer news

July 13, 2009 7:00 AM UTC

Adherex reshuffled its management and said it will focus its remaining resources on the development of eniluracil, after restructuring and reducing headcount in April. Adherex hired shareholder Rosty Raykov as CEO and a director to replace William Peters, who resigned as CEO and chairman. The biotech also added: Robert Butts, a principal at Adherex's largest shareholder Southpoint Capital LP, as chairman; consultant Thomas Spector as CSO; and shareholder Robert Andrade as a VP and a director. Directors Donald Kufe; Michael Martin; Fred Mermelstein; Peter Morand; and Robin Norris resigned (see BioCentury, April 6).

Eniluracil, a dihydropyrimidine dehydrogenase inhibitor, was in a Phase I/II trial for hepatocellular cancer (HCC) but was suspended in November after a reprioritization of the biotech's programs. Adherex has rights to eniluracil from GlaxoSmithKline plc (LSE:GSK; NYSE:GSK, London, U.K.) (see BioCentury, Nov. 24, 2008). ...