US biotech Inhibrx Biosciences (Nasdaq: INBX) has announced a leadership shake-up following the departure of co-founder Brendan Eckelman, who is leaving to establish a new privately-held biotech company.
Mr Eckelman, who served as chief scientific officer since the company’s founding in 2010, will take on the role of chief executive at the new venture.
Inhibrx has entered into an exclusive license agreement granting the spin-out rights to certain discontinued technologies. The deal includes an upfront payment after initial funding and milestone-based payments tied to future development.
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