CombinatoRx Names New CEO

Cambridge, MA-based CombinatoRx (NASDAQ: [[ticker:CRXX]]) said today it has named Mark Corrigan as its new CEO, following the merger with NeuroMed Pharmaceuticals. Corrigan, 52, is the former executive vice president of R&D at Sepracor and a director of CombinatoRx. He will be paid an annual base salary of $450,000, may get a bonus worth half his base salary, and could get restricted stock units worth as much as 3 percent of the company’s market capitalization if CombinatoRx’s lead pain drug wins FDA approval by October 1, according to a regulatory filing. Robert Forrester, the former chief operating officer, is leaving the company, while NeuroMed’s former CEO, Christopher Gallen, will stay as executive vice president of R&D.

Author: Luke Timmerman

Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT. View all posts by Luke Timmerman