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news.Denmark-based LifeCycle Pharma has appointed Jim New as its new president and CEO. Furthermore, Hans Teisen has decided to resign as the executive vice president and CFO of the company in order to take a position as partner and CFO of PricewaterhouseCoopers effective December 1, 2008.
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Dr New was co-founder and CEO of Abrika Pharmaceuticals, a specialty pharma company focused on the development of controlled-release generic drugs. Before that, Dr New worked for over 20 years with Novartis, Pfizer, GlaxoSmithKline, and Bristol-Myers Squibb.
Mr Teisen will assist LifeCycle Pharma on ad hoc basis during the transition to the new CEO and CFO.
Claus Braestrup, chairman of the board of directors of LifeCycle Pharma (LCP), said: “We are proud that it has been possible for LCP to attract an international management capacity such as Dr Jim New as the president and CEO for our organization. LCP has a late-stage product pipeline with two product candidates approaching clinical Phase III, LCP-Tacro and LCP-AtorFen, and Dr Jim New’s experience and track record matches the needs of LCP.”