HIGH POINT, N.C.--(BUSINESS WIRE)--TransTech Pharma, LLC (“TransTech”) announced today that effective March 28, 2014, Stephen L. Holcombe, who previously served as the Company’s Senior Vice President and Chief Financial Officer, has been appointed to serve as the President of TransTech and its sister company High Point Pharmaceuticals, LLC (“High Point”). Mr. Holcombe will also continue his duties as Chief Financial Officer. Mr. Holcombe’s appointment as the President of the companies follows the resignation by the founder Adnan M.M. Mjalli, Ph.D. from his role as President and Chief Executive Officer of TransTech and High Point effective March 28, 2014. Dr. Mjalli will continue to serve as a member of the Board of Directors of both companies as well as Chief Executive Officer of TransTech’s affiliate, High Point Clinical Trials Center, LLC. The Board of Directors of TransTech will undertake a search for a new chief executive officer.
Mr. Holcombe said, “I’ve worked closely with Dr. Mjalli over the past 12 years as he built TransTech from an early stage drug discovery business into a clinical-stage pharmaceutical company. We have an outstanding team and will continue to move a promising portfolio of clinical drug candidates forward in development.”
About TransTech Pharma
TransTech Pharma is a privately held, company focused on the discovery, development, and commercialization of human therapeutics to fill unmet medical needs. The Company’s high-throughput drug discovery platform, Translational Technology®, translates the functional modulation of human proteins into safe and effective medicines. TransTech Pharma has a pipeline of small-molecule clinical and pre-clinical drug candidates for the treatment of a wide range of human diseases, including central nervous system disorders, diabetes, inflammation and cancer. For further company information, visit http://www.ttpharma.com.