Chris Garabedian, the chief executive who turned Cambridge, Mass.-based Sarepta Therapeutics from a floundering antiviral company called AVI Biopharma into an investor darling, resigned today, according to a press release from the company. Garabedian’s relationships with both investors and, more problematically, the Food and Drug Administration had become tense as he pushed to file with the agency for approval for Sarepta’s lead drug, eteplirsen for Duchenne muscular dystrophy but had trouble communicating and sticking to timelines.
Garabedian will be replaced, on an interim basis, by Ed Kaye, who had until now served as Sarepta’s Chief Medical Officer. Kaye says that he was contacted by the board tonight; the change seems to have happened suddenly. “The executive team here has rallied,” he says. “They’ve been incredibly suppor...
Also read: FAO Schwarz sets its sights on China