Julian Adams, renowned for inventing bortezomib (Velcade), a drug that revolutionized multiple myeloma treatment years ago, is retiring from his role as president of research and development at Cambridge, MA-based Infinity Pharmaceuticals (NASDAQ: [[ticker:INFI]]).
Adams (pictured above, right) has worked at Infinity since 2003 and will step down this week amid a sweeping restructuring at the company, which closed down its research operations after an experimental cancer drug, duvelisib, came up short in clinical testing last year. Infinity subsequently lost a partnership with AbbVie (NYSE: [[ticker:ABBV]]) on duvelisib before striking a new, far less lucrative deal on the drug with Verastem (NASDAQ: [[ticker:VSTM]]). Infinity’s only other asset is IPI-549, another cancer drug in Phase 1 testing for solid tumors.
“It has been a pleasure to have been a part of Infinity and an honor to have led the R&D organization. I am proud of what my Infinity colleagues—current and former—accomplished in taking on the challenges of drug discovery and development in oncology,” Adams said in a prepared statement.
Separately, Infinity named its current chief financial officer Lawrence Bloch president, reporting to CEO Adelene Perkins (pictured above on left), and promoted Claudio Dansky to senior vice president of clinical development.
Here’s more on Adams and Infinity’s ups and downs.
