Tyrogenex, Xcovery appoint Michael Webb CEO
This article was originally published in Scrip
Executive Summary
Tyrogenex and Xcovery, two privately held companies focused on the development of next-generation targeted therapeutics for cancer and ophthalmology, have named Michael D Webb as president and CEO of both companies. The boards of both companies appointed Mr Webb, who has been CEO of four biotechnology companies as well as chair of the MassBio industry organization. Most recently, he was president and CEO of Allegro Diagnostics, a venture-backed, molecular diagnostics company focused on lung cancer that was acquired by Veracyte in 2014. Sheridan Snyder, co-founder and former president and CEO of both companies, remains chair of the Xcovery board and a director on the Tyrogenex board. Tyrogenex and Xcovery share a common scientific legacy and management team. Xcovery is developing X-396, an anaplastic lymphoma kinase inhibitor for non-small cell lung cancer entering Phase III this year. Tyrogenex is developing X-82, an orally administered, dual VEGFR/PDGFR inhibitor for angiogenesis in oncology and wet age-related macular degeneration.