Antisoma's executives leave after drug setbacks

Mon Feb 28, 2011 11:02am EST

Related Topics

* CEO Glyn Edwards, CFO Eric Dodd step down

* Dodd to advise on strategic options, including sale

LONDON, Feb 28 (Reuters) - The top management of Antisoma ASM.L ASM.L stepped down on Monday as the British cancer specialist cut its operations following the failure of its two leading drug candidates.

The company's leukaemia drug candidate AS1413 failed in a final-stage trial in January, delivering a second blow after the failure of a lung cancer drug, its biggest hope, in March 2010. [ID:nLDE70U090}

Chief Executive Glyn Edwards and finance director Eric Dodd had both resigned, the company said, although Dodd will continue to advises the firm on strategic options, which includes a sale of the company.

Shares in Antisoma, once one of Britain's brightest biotech hopes, were valued at more than 200 pence in March 2000 when the sector was riding high. [ID:nLDE71K1L0]

The shares were trading at 3 pence at 1554 GMT. (Reporting by Paul Sandle)

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