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Orexigen Therapeutics Founder Resigns From Board

Executive Summary

Obesity specialist Orexigen Therapeutics Inc. has announced that its co-founder and former chair, Eckard Weber, has stepped down from the board of directors. Weber, who co-founded the company with Michael Cowley in 2002, was chair from 2002 until earlier this year, and also served as interim president and CEO between November 2008 and March 2009. Weber is also a partner at Domain Associates, LLC., a venture capital firm which owns approximately 11.3 million shares of Orexigen common stock.

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