David M. Goldenberg, chief executive officer and founder ofImmunomedics Inc., is stepping aside to make way for a newpresident and CEO. David W. Ortlieb will assume those dutiesand will be responsible for the company's worldwide activitiesand strategic planning.
Immunomedics of Morris Plains, N.J., has been without apresident since April, when Russell McLauchlan joined U.S.Bioscience Inc. as president.
Ortlieb arrives at a pivotal time for Immunomedics(NASDAQ:IMMU), said company spokesman Joe Schepers. Itsfirst product, ImmuRAID-CEA to detect colorectal cancer, isbeing reviewed by U.S. and European regulatory agencies.
Ortlieb was preoviously corporate executive vice president anddirector of Abbott Laboratories, and president and chiefoperating officer of American Optical Corp.
Goldenberg, who founded Immunomedics in 1982 and owns 48percent of its stock, remains the company's chairman. He plansto become more involved in the company's R&D activities andalso plans to devote more time as president of the Center forMolecular Medicine and Immunology, a specialized cancerresearch center in Newark, N.J.
(c) 1997 American Health Consultants. All rights reserved.