Fortress Biotech Appoints New President and CEO for Subsidiary Avenue Therapeutics

Fortress Biotech (NASDAQ:FBIO) announced the appointment of Doctor Lucy Lu as president and CEO of its subsidiary Avenue Therapeutics (NASDAQ:ATXI).
As quoted in the press release:

Dr. Lu has served as interim Chief Executive Officer of Avenue since inception. Fortress also announced that Ms. Robyn Hunter has been appointed Chief Financial Officer of Fortress, a role formerly held by Dr. Lu.

Dr. Lindsay A. Rosenwald, Fortress’ Chairman, President and Chief Executive Officer, said, “Lucy has been essential in building Avenue, and we are thrilled to announce her official appointment as Chief Executive Officer. Lucy’s financial and drug development expertise uniquely qualifies her to lead Avenue, which completed a successful $38 million IPO last week and plans to initiate a Phase 3 clinical trial this year for its lead therapy IV Tramadol in the management of postoperative pain. In addition, we are excited to announce that Robyn will assume the role of Chief Financial Officer of Fortress. Robyn was previously Vice President and Corporate Controller of Fortress, where she has been instrumental in the implementation of our financial and operational strategy. I look forward to working with Robyn and Lucy in these new roles.”

Click here to read the full press release.

Source: globenewswire.com