A small company with Triangle roots that is seeking to develop an experimental hormone treatment for Alzheimer's has replaced most of its board of directors and executive management team.
Curaxis Pharmaceutical, which previously was known as Voyager Pharmaceutical, revamped its leadership team "to better position the company for its next phase of growth and development," it wrote in a press release.
Timothy Wright will take over as chairman and interim CEO. Wright previously held management positions at Covidien, Elan and DuPont Merck.
"We thank the departing Board and management for their efforts on behalf of the Company and its shareholders, and are very excited to develop Curaxis' Alzheimer's disease drug candidate and other pipeline candidates," Wright said in a prepared statement.
The management reshuffling follows other recent strategic moves, including renaming the company, lining up $25 million from a Connecticut investment firm and merging with a shell corporation to become a publicly traded company.