- Signs for push-out forces
- After eleven years on the job
- Praise, thanks and good wishes for Farrell
- Rick Fair taking over
(management-change.com) — Houston, Texas, January 31, 2017 — Tom Farrell, chief executive of Bellicum, leaves. It is an abrupt change. As announced by Bellicum Pharmaceuticals, Inc. in a news release and in a regulatory filing published on Tuesday, January 31, 2017, Thomas J. (Tom) Farrell has already left the post as Chief Executive Officer at the clinical stage biopharmaceutical company after eleven years on the job, effective January 30, 2017.
It is the end of an era.
Farrell’s duties are taken over by Rick Fair, most recently Senior Vice President, Head of Oncology Global Product Strategy at Genentech/Roche.
“We prepare for commercialization of our lead product candidate BPX-501”
The sudden management change is explained as follows. James Brown, Chairman of the Company’s Board of Directors said: “Rick’s depth and breadth of experience in oncology, clinical development strategy, and commercialization, both in the U.S. and internationally, will be of great value as we prepare for commercialization of our lead product candidate BPX-501, accelerate our pipeline of CAR T and TCR product candidates, and solidify our leadership in the development of controllable cell therapies.”
Bellicum said: “Effective January 30, 2017, Thomas J. Farrell resigned from his position as a director and the President and Chief Executive Officer of Bellicum Pharmaceuticals, Inc.”
Precise information about the future plans of Farrell was not immediately available.
Share price decline
The change follows a decline in the share price of Bellicum Pharmaceuticals, Inc. since November 14, 2016.
Baker Brothers holds 17.95 percent stake
Baker Brothers Advisors, LLC reported a 17.95 percent stake in Bellicum Pharmaceuticals, Inc. as of September 30, 2016. Baker Brothers is a privately owned hedge fund sponsor.
Chaired by James Brown
Bellicum Pharmaceuticals, Inc. is chaired by James Brown.
James Brown is Managing Director of AVG Ventures.
On the job as CEO since 2006
Tom Farrell has a 17-year track record as a serial life science executive and entrepreneur.
He joined Bellicum in February 2006 as CEO, and has built the company into a leader in cellular immunotherapy, with two products in clinical development, a pipeline of novel pre-clinical CAR and TCR product candidates, and more than $300 million in capital raised.
Prior to joining Bellicum, he was the founding President and CEO of San Diego based Cylene Pharmaceuticals, a venture-backed company developing a novel class of small molecules as anti-cancer therapy, targeting secondary DNA structures and associated kinases.
He received his B.A. in Engineering from the University of Cambridge and his M.B.A. from Stanford Graduate School of Business, where he was an Arjay Miller Scholar.
Tom Farrell will serve as an advisor to the Company during the transition.
Signs for push-out forces
It is not completely certain what forces eventually triggered Tom Farrell’s move.
The Push-out Score™ determined by management-change.com suggests that push-out forces may have contributed to the management change.
Read the full story in the management-change.com report 06.2017 ($).