Vasogen cuts execs
This article was originally published in The Gray Sheet
Executive Summary
Vasogen consolidates management April 11 to improve efficiencies and reduce costs. Chief Operating Officer Christopher Waddick reassumes the chief financial officer title, replacing Paul Van Damme. Waddick was Vasogen's CFO from 1997 until he became COO in 2005. Eldon Smith, VP-scientific affairs, takes over position from Jay Kleiman, who retires as chief medical officer and head of cardiovascular development. Vasogen, working to commercialize its Celacade immune modulation therapy for peripheral arterial disease and chronic heart failure, reported a loss of $6.75 million in the first quarter (ended Feb. 28), with $21.2 million cash on hand...