Targacept, Inc. (NASDAQ: TRGT), a clinical-stage biopharmaceutical company developing novel NNR Therapeutics ™, today announced that Stephen A. Hill, M.D. has been appointed as President and Chief Executive Officer. Dr. Hill is expected to start with Targacept on December 1, 2012 and will also join Targacept's Board of Directors.
Dr. Hill brings over 20 years of industry experience to the role, having served previously as President and Chief Executive Officer of Solvay Pharmaceuticals, Inc. and ArQule, Inc. At Solvay, he led an organization of over 1,200 employees until its acquisition by Abbott Laboratories in 2010. Dr. Hill's responsibilities included the direct management of the U.S. commercial organization and administrative support of U.S.-based clinical development, project management, quality, regulatory affairs and new business development. At ArQule, he led a successful transition from a fee-for-service discovery chemistry model to an enterprise with a proprietary clinical-stage pipeline. Prior to ArQule, Dr. Hill held several leadership positions with F. Hoffmann-La Roche Ltd., including Global Head of Clinical Development.(c) 2012 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.