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Celtrix

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Executive Summary

Bruce Pharriss, PhD, the company's founder and former chairman and CEO, dies Sept. 8 of cancer, the Santa Clara, Calif. firm reports Sept. 9. Pharriss was 55. Celtrix announced on Aug. 31 that, due to Pharriss' health, Dale Stringfellow, PhD, was assuming the CEO duties. Stringfellow, 48, has been president of Celtrix since 1990. Celtrix Director Roger Salquist, 51, will serve as chairman. Salquist is chairman of Calgene and vice chairman of the Biotechnology Industry Organization. In early June, Celtrix closed a private placement of 1.8 mil. shares of common stock, resulting in gross proceeds of $10.5 mil.

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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

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