Metabolic's Belyea happy to focus on science

Metabolic Pharmaceuticals' CEO Chris Belyea is looking forward to stepping down from the hot seat and focusing on the science and technology aspects of biotechnology.

The company announced yesterday that it was looking for a new CEO to take over the reins of the company as it heads into late stage clinical trials and the challenges of selecting a suitable pharmaceutical partner to complete the commercialisation of its promising obesity drug.

"I've perceived for some time that as a company grows the CEO position becomes less suitable for the founder," Belyea told Australian Biotechnology News. He noted that it was better for the company if the changeover occurred before the role outgrew the CEO.

Metabolic's chairman Arthur Emmett is spearheading the search for Belyea's replacement. According to Belyea, the successful candidate will have solid corporate management experience, as well as the capacity to grasp and understand the science underpinning the company's products. It's likely to suit someone with substantial experience in the biotechnology/pharmaceutical sector, he said.

Meanwhile, Belyea is looking forward to taking on the challenge of becoming the company's chief scientific officer, where he will focus on the progression of the company's projects, including its obesity drug AOD9604 and up-and-coming compounds including ACV-1, a cone snail toxin-derived pain drug.

"I will be involved with the early scientific development and understanding of the projects, and have a lot of interaction with the scientists," Belyea said.