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Acusphere Inc. (ACUS) Announces Change in Management


12/16/2009 10:02:19 AM

TEWKSBURY, Mass.--(BUSINESS WIRE)--Acusphere, Inc. (ACUS.PK) today announced that co-founder and CEO, Sherri C. Oberg, will assume a new role as Executive Chair, working 20% of her time. Ms. Oberg will retain the title of President but effective December 16, 2009, she will resign as Chief Executive Officer. Commensurate with her new responsibilities, her salary will be reduced to 20% of its current level. Acusphere’s current focus is to work with the FDA to design the new clinical trial required for U.S. regulatory approval of the Company’s lead product candidate, ImagifyTM (Perflubutane Polymer Microspheres) for Injectable Suspension, a cardiovascular drug for the detection of coronary artery disease, and to work with regulatory agencies in Europe to determine what additional work must be completed before filing the Marketing Authorization Application (“MAA”) to support Imagify in that market. Since most of this work is presently underway utilizing third parties, Ms. Oberg recommended changing her role as a cost-saving measure for the Company.

Read at BioSpace.com


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