Immtech reorganizes, cuts exec spots

New York-based Immtech Pharmaceuticals is reorganizing its R&D operations to focus its resources on "business opportunitites" based on its discovery program and library of compounds. "Immtech is in discussions with potential joint venture partners regarding co-development of Immtech's proprietary compounds," said CEO Eric Sorkin in a statement. "The company's organizational structure will continue to evolve so that we can be best positioned to succeed in this dynamic environment."

The changes leave one exec without a job. Carol Ann Olson, formerly senior vice president for pharmaceuticals development and chief medical officer, will no longer hold that position, though the company said she will continue to work with Immtech in a consulting role for pharmaceutical development.

- here's Immtech's release

Related Articles:
Immtech announce Phase III analysis (2007)
Immtech gets on Chinese fast track (2007)