Inoxell loses its senior management

Published: 30-Oct-2002


Inoxell, the Danish drug discovery company spun out of Pharmexa in July 2001, is losing both its ceo and its cso. Inoxell has 27 employees and is based on the CellScreen? drug target identification and validation technology that was discovered and developed by Pharmexa, which still has an 83% stake in the company. The ceo Peter Kristensen and cso Jacob Sten Petersen joined Inoxell from Novo Nordisk when Inoxell was formed and both are now returning to Novo Nordisk.

The resignations leave Pharmexa and Inoxell with an urgent problem, according to Soren Mouritsen, ceo of Pharmexa and chairman of the board of directors at Inoxell. 'Unfortunately the financing climate in the biotech industry is such that job security has become an important parameter, and here the larger companies currently have the best offers,' he said.

'Fortunately the organisation in Inoxell is strong and the company's activities will continue as before. We have previously stated that we must find a solution for Inoxell's future before the end of the year and we are still working on a number of options.'

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