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GeneProt Promotes Damour to CEO

NEW YORK, March 11 -GeneProt announced today that it has promoted former CFO Bertrand Damour to the position of CEO, filling a position that was vacant for almost a year following founder and CEO Cedric Loiret-Bernal's departure last April.


The Geneva-based proteomics company also said it elected Damour to its board of directors.


Damour, who like Loiret-Bernal is a graduate of the Kellog School of Business at NorthwesternUniversity, had been serving as co-chair of GeneProt's operating committee since Loiret-Bernal left. Before joining GeneProt, Damour worked in international banking, most recently heading up JP Morgan's Investment Banking Risk Management group in London.


The company has faced tough times, and has widened its strategy lately from chasing big deals like the $84 million partnership it signed two years ago with Novartis, to a pursuit of smaller partnerships as well.


This change follows the company's decision last fall to lay off 20 employees and postpone a planned launch of a North Brunswick, NJ facility.

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