ARCA biopharma Inc.(Nasdaq: ABIO) announced that Richard B. Brewer will resign as CEO and assume the role of Chairman of the Board. Michael R. Bristow will retake the helm as President and CEO, roles he served in prior to Brewer joining the company. Bristow will step down as Chairman of the Board but maintain a seat on the board. All these changes will be effective on July 10, 2009. This announcement comes a month after the FDA requested significantly more data than was provided in ARCA’s initial NDA for experimental chronic heart failure treatment Gencaro. According to Brewer, “Today ARCA must balance its cash resources with the continued prosecution of the Gencaro New Drug Application.” Based in Broomfield, Colorado, ARCA is focused on the development and commercialization of genetically targeted therapies for cardiovascular conditions.
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