Novacea Announces Resignation of Two Board Members
Novacea, Inc. reported that two of its founding venture investors, James Blair, Ph.D., of Domain Associates and Jay Moorin of ProQuest Investments, will resign as members of the board of directors in September 2007. Dr. Blair and Mr. Moorin have been members of the Novacea board since 2001.
"The transition in the constituency of our board of directors is part of the natural evolution of a publicly-traded biotechnology company. Concurrent with this, we will be reducing the size of our board of directors from nine to seven, which is more consistent with industry standards and Novacea's stage of development. Jim Blair's and Jay Moorin's leadership and service over the past six years have made a significant impact on the growth and direction of our company. We wish them both every success in their future endeavors," said John P. Walker, chairman and interim chief executive officer of Novacea.
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