Fallout from failed MEI merger continues as Infinity Pharma CEO, CMO exit

Infinity Pharmaceuticals CEO Adelene Perkins and CMO Robert Ilaria were terminated “without cause” from their roles on Sept. 1 as a part of the company’s so-called “August restructuring.” CSO Stéphane Peluso also exited the company.

Stéphane Peluso

The Cambridge, MA-based company is still grappling with MEI Pharma scrapping its all-stock merger with Infinity on July 24 due to poor shareholder support. These three exits are designed to save the company money and are on top of its headcount reduction of 21 people — 78% of its employees — right after the failed merger.

Seth Tasker

Seth Tasker, who was chief business officer, takes over as the new CEO, as per an SEC filing detailing the recent exits.

Both Perkins and Illara will nonetheless stay on as consultants to figure out what’s next for Infinity’s lead asset eganelisib, a PI3K-gamma inhibitor. Perkins remains as the company’s chair of the board.

Infinity estimates that the new terminations would cost a total of around $3.9 million, $1.6 million of which would be in cash, severance and structuring expenses. Perkins, as a part of her severance package, is set to receive a lump sum of $537,876, while Ilaria will receive $356,362.

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