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Print Edition StoriesTuesday, February 5, 2008
Berkle leaves top posts, board seat at Altus
Altus Pharmaceuticals Inc. reports its president and CEO, Sheldon Berkle, has resigned from his executive posts and from the board of directors.
The Cambridge-based biotech said its board of directors has appointed company chairman David Pendergast as interim executive chairman while the firm searches for a new chief executive. Pendergast, former president of the Cambridge-based Human Genetic Therapies unit of British drug firm Shire plc, has served as a director of Altus since November 2006. He was named the biotech's chairman in late 2007.
Company officials credited Berkle for leading the company through its January 2006 initial public offering and advancing the clinical development of its products. The biotech is focused on the development of protein-based drugs for gastrointestinal and metabolic disorders.
Altus reported a 2006 net loss of $55.7 million on revenue of $5.1 million. The firm employs 144 workers.
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