29/12/2005
Chief scientific officer Professor Roland Baron is parting company with recently merged pharmaceuticals business ProStrakan, because ‘he does not accept certain changes to his role in the enlarged group.’
ProSkelia – which Baron founded – joined forces with rival Strakan earlier this year and the combined group then floated in June. But in his role as chief scientific officer, Baron was only contracted to work one week each month and has decided to move on, triggering the payment of a previously negotiated severance package.
‘Professor Baron’s focus is very much on high science, whereas ProStrakan’s emphasis is on the later stage development and commercialisation of technology,’ a spokesperson for the company confides. ‘ProStrakan will now review its strategy prior to appointing a replacement.’
The shares eased back 0.75p to 113p on the day, valuing the group at £211.6 million.
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