Biopharmaceutical firm NuPathe’s (NASDAQ:PATH) CEO Jane Hollingsworth has resigned as CEO and board member of the company she co-founded more than six years ago. She has been replaced by the former CEO of Auxilium Pharmaceuticals (NASDAQ:AUXL), another company Hollingsworth co-founded.
The move comes as NuPathe gears up to commercialize its lead product the Zelrix migraine patch, which was resubmitted for U.S. Food and Drug Administration approval earlier this month after addressing issues raised by the regulator in a complete response letter last year.
Incoming CEO and board member Armando Anido has 30 years of experience in the pharmaceutical industry most recently as president and CEO of Auxilium Pharmaceuticals. During his six-year tenure there he helped grow market capitalization from $200 million to more than $900 million, according to a company statement. He has also worked in sales and marketing roles at MedImmune, GlaxoWellcome and Lederle Laboratories.
In a statement Anido said: “NuPathe has developed a highly innovative and differentiated product for the treatment of migraine. This product innovation, combined with a large population of underserved migraine patients and an outstanding commercial team, builds the foundation required for a successful launch.”
A successful serial entrepreneur, Hollingsworth commands a lot of respect in the region. Last year, she received the Life Sciences CEO of the Year award from the Philadelphia Business Journal and was named Ernst & Young’s Entrepreneur of the Year in 2010. She will be available to consult for the Conshohocken, Pennsylvania company, according to a source familiar with the move.