Weeks into first approval, Cara waves goodbye to founding CEO in favor of board member
A biotech’s first drug approval is a process often years in the making and a crowning achievement for founder-CEOs who have run the race from the beginning. After 17 years watching Cara Therapeutics grow to a commercial brand, this biotech’s founding CEO is now ready to move on to his next phase.
Cara has appointed Christopher Posner, a current board member and former CEO of Leo Pharma’s US branch, as its next leader, replacing founding CEO Derek Chalmers, the company said Wednesday. Chalmers will move over into a senior advisory role, with Posner set to take on the mantle Nov. 9.
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