Celladon Approves Strategic Plan; Elevates Paul Cleveland To CEO

(RTTNews) - Celladon Corp. (CLDN), a clinical stage biotechnology company, Monday said its Board of Directors has unanimously approved a strategic plan following which the company would immediately commence a process to seek an acquisition or partnership.

The company also announced that it has retained Wedbush PacGrow Healthcare as its exclusive financial advisor.

The Board also unanimously approved a leadership succession plan, pursuant to which Paul Cleveland has been promoted to Chief Executive Officer of Celladon and appointed to its Board of Directors, effective immediately.

Krisztina Zsebo, who had been Celladon's Chief Executive Officer, has resigned from the company and its Board of Directors.

Following his vote in favor of these decisions, Patrick Yang, also resigned from the Board of Directors. In addition, Andrew Jackson, previously the company's Corporate Controller, was named Chief Financial Officer.