Adventrx Pharmaceuticals Inc. (ANX:US), a drugmaker specializing in cancer and infectious disease research, said Chairman M. Ross Johnson will retire at the annual stockholders meeting in May.
A succession plan will be announced at that time, San Diego-based Adventrx said in a statement.
Johnson, who has led the board since October 2002, is leaving to attend to personal health matters, according to the statement, which didn't elaborate. He is co-founder of Parion Sciences Inc. and was formerly president, chief executive officer and chief scientific officer of Trimeris Inc.
The shares (ANX:US) rose 7 cents, or 3.5 percent, to $2.06 as of 4:15 p.m. New York time in American Stock Exchange composite trading. They have fallen 53 percent in the past year.
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