GlaxoSmithKline names new president of SR One

GlaxoSmithKline has announced the appointment of Jens Eckstein as the new president of its independent healthcare venture organisation SR One.

Mr Eckstein will assume his new role at the start of October 2011 and will be succeeding Christoph Westphal, who is leaving the company in order to focus on external business interests.

The new president is a trained biochemist who has been employed by TVM Capital since 2004, ascending to the position of venture partner and entrepreneur-in-residence, while he has also acted as interim chief executive of SelectX Pharmaceuticals.

In his new role, he will be tasked with overseeing group activities and managing the investment and support team, as well as assessing other non-public companies as potential investment targets.

Research and development chairman Moncef Slaoui said: "His experience in pharmaceutical discovery and development and his accomplishments as a biotech entrepreneur will provide SR One with continued strong leadership."

Earlier this month, GlaxoSmithKline announced that it will be receiving funding from the US Biomedical Advanced Research and Development Authority to aid the development of a promising new antibiotic.