Found­ing For­ma CEO Steve Tre­gay fol­lows 61 staffers out the ex­it, re­placed by Genen­tech strat­e­gy vet

Two months af­ter we broke the sto­ry that For­ma Ther­a­peu­tics had axed R&D staff in a ma­jor re­or­ga­ni­za­tion of the com­pa­ny, found­ing CEO Steve Tre­gay is now join­ing the ex­o­dus. He’s be­ing re­placed at the helm by Genen­tech vet and chief strat­e­gy of­fi­cer Frank D Lee.

Dur­ing Tre­gay’s 10-year stint at For­ma he struck a num­ber of im­pres­sive col­lab­o­ra­tions, but re­fused to tell me what the sta­tus of the big Cel­gene al­liance was when con­tact­ed about the re­struc­tur­ing. In Tre­gay’s view, a pri­vate com­pa­ny can re­veal what it likes, when it likes.

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