Chesterbrook-based Aclaris Therapeutics has parted ways with its CEO and has started a strategic review after the recent setbacks with two of its new drug candidates, writes John George for the Philadelphia Business Journal. 

Dr. Douglas Manion resigned as president and chief executive officer of the biopharmaceutical company last week. He had served in those roles for two years. Manion will also relinquish his board seat. 

According to the company, the decision was made by “mutual agreement.” 

Dr. Neal Walker, chairman of Aclaris and one of its co-founders, will serve as an interim CEO. He previously held this position from July 2012 to December 2022. 

“Doug joined our company as we were actively heading into later stage development,” said Walker. “As the company looks to reset in 2024, we agreed that the timing was right for this transition.” 

Earlier this month, the company reported “not statistically superior” top-line results from ATI-1777 mid-stage testing. ATI-1777 is an experimental skin disease treatment for atopic dermatitis. 

Aclaris is also undertaking a strategic review of its business “to determine how to optimally deploy its capital to maximize shareholder return.” 

Read more about Aclaris Therapeutics’ leadership transition in the Philadelphia Business Journal.