Tuesday, January 6, 2009

Former CEO resigns from Molecular Insight board

By Mass High Tech staff

Molecular Insight Pharmaceuticals Inc., a Cambridge firm dedicated to disease treatment at the molecular level, has announced the resignation of David S. Barlow from the company’s board of directors. The resignation went into effect last Tuesday, Dec. 30, and was related to Barlow’s “disagreements with the Board,” he said in a statement.

Barlow is the former CEO of Molecular Insight (Nasdaq: MIPI). In September, the company announced that Barlow would immediately be replaced by interim CEO and chairman of the board John Babich, who formerly served as president and chief scientific officer of Molecular Insight before taking the helm.

Barlow was serving as CEO when Mass High Tech and the Association for Corporate Growth Boston named Molecular Insight as a finalist for the 2007 Tech Dealmakers awards. The company was named a finalist in the top recapitalization/financing deal for its raising of $150 million in investments.

Founded in 1997 (as Imaging Biopharmaceuticals Inc.), Cambridge-based Molecular Insight specializes in the development of radiotherapeutics and molecular-imaging agents in the fields of oncology and cardiology.