Julian Adams, the R&D chief of Infinity Pharmaceuticals $INFI for the past 14 years and a prominent face for one of the most high-profile biotechs in Cambridge, MA, is out.
Like many such announcements, Infinity cast the departure as a retirement, though it’s unlikely that Adams is hanging up his lab coat. His last day at Infinity is tomorrow, just days after he qualified for the first payment of a planned $249,000 retention bonus.
Lawrence Bloch, MD, JD, has been promoted to president.
Over the years Adams has presided, along with CEO Adelene Perkins, over multiple clinical setbacks for once-promising therapeutics. The most recent was duvelisib, an unimpressive PI3k delta/gamma inhibitor for blood cancers which was recently handed over to a struggling Verastem in a no-money-down deal after AbbVie took its check book and went home after inspecting data last summer.
As in the past, Infinity is trying to shift focus to an early-stage drug in the pipeline, looking to rekindle hope after multiple failures. The three-time loser faces an uphill battle after its market cap has shrunk to a marginal $69 million.
The best place to read Endpoints News? In your inbox.
Comprehensive daily news report for those who discover, develop, and market drugs. Join 25,000+ biopharma pros who read Endpoints News by email every day.Free Subscription