Scott Maguire has stepped down as CEO of Xenetic Biosciences (NASDAQ: [[ticker:XBIO]]), and the Lexington, MA, company has named chief operating officer Jeffrey Eisenberg to be his successor.
No reason for Maguire’s departure was given. In an SEC filing, the company says Maguire’s employment agreement was terminated on Nov. 3 and under terms of a settlement, he will continue to receive his base salary for one year. The company added that Maguire would be available to help the transition of Eisenberg, who has served as Xenetic’s COO since last December. Before joining Xenetic, Eisenberg was CEO of Noven Pharmaceuticals. Xenetic’s lead drug candidate, XBIO-101, is in mid-stage clinical trials testing the drug as a treatment for progesterone-resistant endometrial cancer.
