US regenerative medicine firm Asterias Biotherapeutics has appointed industry veteran Stephen Cartt as President and Chief Executive and member of the Board of Directors.
In addition, the firm has appointed Don Bailey as Chairman of the Board of Directors. Bailey was previously President and Chief Executive of Questcor Pharmaceuticals until its sale for US$5.6bn in 2014 to Mallinckrodt.
Cartt replaces Pedro Lichtinger, who served as President, CEO and a member of the Board of Directors from June 2014. Bailey succeeds Alfred Kingsley as Chairman. Kingsley will remain on the Asterias Board of Directors.
Cartt began his career in the pharmaceutical industry with ALZA Corporation where he held a variety of R&D and commercial positions. He moved to Elan Pharmaceuticals and served as Senior Director of Strategic Marketing before joining Questcor in 2005.
At Questcor, he was Executive Vice President and Chief Business Officer prior to being appointed Chief Operating Officer in 2012. After the acquisition of Questcor in August 2014, Cartt held a transitional role as Chief Operating Officer of Mallinckrodt's AutoImmune and Rare Diseases Business Unit until October 2014.
Bailey brings to Asterias substantial management, board, and corporate governance experience. From 2006 to 2014, he was on the Board of Directors of Questcor, was its President and CEO from 2007 to 2014, and at various times, chaired or was a member of several board committees including Questcor's Strategic Initiatives Committee. Since the sale of Questcor, Bailey has served on the Board of Directors and as Chairman of the Portfolio Committee of Mallinckrodt. He is also a director, audit committee chair, and a member of the Transaction Committee of Biotie Therapies, a public pharmaceutical company headquartered in Turku, Finland.
