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New leadership for Halozyme

Enzyme therapy developer Halozyme has appointed Gregory I Frost to serve as its new president and CEO, replacing Jonathan E Lim

Halozyme Therapeutics, the San Diego-based enzyme therapy developer that in October realigned its research priorities and cut its workforce by 25 per cent, has appointed Gregory I Frost to serve as its new president and CEO, effective immediately. He will replace Jonathan E Lim, who has resigned from the position as well as from his place on the board of directors "to pursue other opportunities."

Lim has led the company since 2003, while Frost has until now served as vice president, chief scientific officer.

In addition, H Michael Shepard, who recently joined the company as vice president of discovery research, has been promoted to chief scientific officer, while Robert J Little has resigned as vice president and chief commercial officer effective immediately.

Halozyme Therapeutics, whose partners include Roche and Baxter, is focused on researching the extracellular matrix for the endocrinology, oncology, dermatology and drug delivery markets. In October, the company said it would decreasing its research efforts on new drugs and cut 25 per cent of its workforce in order to concentrate its resources on "core proprietary programmes through key clinical inflection points in 2011 and 2012" and focus on the Baxter and Roche alliances.

However, the company said at the time that implementation of the strategy is not expected to impact previous net cash burn guidance and reiterated its guidance of $40m to $45m of net cash burn for 2010.

6th December 2010

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