AspenBio Names Interim CEO

Biotech drug maker said Executive Chairman Daryl Faulkner will serve as the company's interim chief executive, following the resignation of Richard Donnelly.

CASTLE ROCK, Colo. (AP) -- Biotech drugmaker AspenBio Pharma Inc. said Wednesday that Executive Chairman Daryl Faulkner will serve as the company's interim chief executive, following the resignation of Richard Donnelly.

The company said Donnelly, who was also a director, resigned Tuesday to pursue other business opportunities. Some of Donnelly's responsibilities will also be taken on by Robert Caspari, who was appointed chief operating officer and chief medical officer on Wednesday.

Caspari has spent 25 years in drug development, most recently at Living Cell technologies, a company that focused on therapies for diabetes and neurological disorders.

Shares of AspenBio Pharma rose 3 cents to $1.83 in afternoon trading.

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