Monday, October 20, 2008

Gustav Christensen takes CEO reins at Dyax

By Mass High Tech Staff

Biotherapeutics company Dyax Corp. has announced the appointment of Gustav A. Christensen as president and CEO, replacing Henry E. Blair who plans to retire and continue serving as chairman of the board. The transition becomes official on January 1, 2009.

Christensen has served as executive vice president and chief business officer since April 2007, during which time he had a hand in business development and licensing. In total, he has worked 25 years in the biotechnology sector.

Christensen graduated with a master’s degree in business administration from Harvard Business School and a bachelor’s degree in economics from the University of Aarhus in Denmark.

Blair co-founded Dyax in 1989 and, since 1995, has held the roles of chairman, president and CEO. Thirty years in the biopharmaceutical industry led him to also co-found Genzyme, Biocide, GelTex Pharmaceuticals and Biotage. Blair has been director of GTC Biotherapeutics, Celtrix Pharmaceuticals, Esperion Therapeutics and DynaGen. He has also served as a trustee of Harvard’s Center for Blood Research and a board member for Tufts University School of Medicine and the Lahey Hitchcock Clinic.

Cambridge-based Dyax (Nasdaq: DYAX) develops oncology and inflammation-related biotherapeutics.

In August, Dyax named George Migausky as chief financial officer to replace Steve S. Galliker, who is retiring. Prior to joining Dyax, Migausky served as CFO of Wellstat Management Co. He has also held CFO positions at a number of public and private companies, including Maryland firm BioVeris Corp. and Igen International Inc., as well as Hyperion Catalysis International Inc. in Cambridge and ElectroScan Corp. of Wilmington.

Dyax reported a 2007 net loss of $56.3 million on revenue of $26.1 million. It employs a total of 177 workers.