RICHMOND, VA – Commonwealth Biotechnologies Inc. (CBI, CBTE.OB) has named Richard J. Freer, Ph.D. CEO.
He replaces Dr. Bill Guo who has served as Acting CEO since January of 2009.
Dr. Freer, one of the founders of the company, has served at various times as its chair, director of compliance, and most recently as COO. In addition to his new position as CEO, Dr. Freer sits on the board.
“These are difficult times for the company but I look forward to working with the Board to restore shareholder value to the best of my ability,” said Dr. Freer. The company was delisted from Nasdaq in 2009 for failing to maintain minimum stockholders’ equity of $2.5 million and not meeting other requirements.
CBI offers cutting-edge research and development products and services to the global life sciences industry. CBI now operates solely through Mimotopes Pty Ltd, Melbourne, Australia, a peptide and discovery chemistry business.