Recently formed anti-infective drug development company Biota Pharmaceuticals Inc. (BOTA) named Russell H. Plumb as its new chief executive officer.
"Biota's move to the United States marks the beginning of a transformative period for the company," Mr. Plumb said in a statement. "With two drugs on the market and a robust pipeline anchored by laninamivir, Biota represents a truly unique opportunity and I'm excited to play a role in maximizing the company's potential."
Mr. Plumb previously served as president, chief executive and chief financial officer of Inhibitex Inc., which in 2012 was acquired by Bristol-Myers Squibb Co. (BMY). He will also join the Biota's board.
Biota was recently created by a merger of Australian influenza antivirals developer Biota Holdings Ltd. with U.S. vaccines maker Nabi Biopharmaceuticals. The deal was backed by shareholders of both companies last month. Peter Cook, who resigned as the Chief Executive Officer of Biota Holdings upon the completion of deal, serves as a director of the new company.
Biota also named Joseph M. Patti as its new executive vice president of corporate development and strategy.
Shares closed Wednesday at $4.41 and were inactive in recent premarket trading.
BTA Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
