ContraVir Pharmaceuticals (NASDAQ:CTRV) appointed industry veteran, Robert Foster, as acting CEO, succeeding James Sapirstein.
Dr. Foster has an accomplished history of leadership success in the global biotech industry, playing a critical role in drug discovery, developing corporate strategy and driving strategic partnerships and licensing transactions.
Since 2016, Dr. Foster has served as ContraVir’s CSO, overseeing all aspects of its drug development programs. He joined ContraVir in connection with its acquisition of Ciclofilin Pharmaceuticals, where he was founder, CEO, and chairman.
Prior to Ciclofilin, Dr. Foster was the chairman and CEO of Isotechnika Pharma for 21 years. While at Isotechnika, Dr. Foster and his team discovered the immunosuppressive drug, voclosporin, for which he helped secure what was Canada’s largest drug licensing deal to-date ($215-million) with Hoffman-La Roche.
“In the time I have been working with him at ContraVir, Robert has earned my deep personal admiration and great professional respect,” Gary Jacob, chairman, said in a statement.
“I am confident that his unique combination of scientific talent and executive management expertise, along with his diverse background working with several emerging life science companies, will prove to be a tremendous asset to our board and to our shareholders,” he added.
Dr. Foster said there is no question that ContraVir has great science, assets and people. “However, it’s also clear there is a gap between that and how the investment community sees and values the company’s potential. In the coming days and weeks, my first priority will be to conduct a full review of our development pipeline and corporate strategy.”
