Irish drug developer Amarin Corp. plc, with U.S. research operations in New London, announced Wednesday changes in its executive suite amid two ongoing clinical trials on a preventative treatment against heart disease.
Meanwhile, Amarin says one of the trials on its AMR101 compound for lowering high levels of triglycerides — fats linked with heart disease — is moving ahead of schedule and that it has plenty of cash to complete both.
At its Dublin corporate headquarters, Chairman Joseph Zakrewski, a veteran bioscience executive who previously was CEO at Xcellerex Inc. in Massachusetts, has added the additional post of chief executive officer.
In its New London research base, finance chief John F. Thero was promoted to president. Thero, another veteran bioscience executive from Massachusetts, joined Amarin as chief financial officer in November 2009.
Colin Stewart, who previously was Amarin’s president, CEO and a director, on Wednesday officially gave up all three posts for personal reasons, the company said.
Also, Frederick Ahlholm, Amarin’s vice president of finance since March, was named the company’s principal accounting officer. Â
Amarin says top-line results for its “Marine” trial in Louisville, Ky., are now expected before year end, instead of early 2011.
The second, “Anchor” trial underway in Houston, Texas, remains on schedule to release top-line results in mid-2011, it said.
Amarin said it finished the third quarter with $31.4 million in cash after spending $6.2 million in the period, most of it conducting the two drug trials.
