Job description
Company: Plumb Pharmaceuticals, Inc.
Position: Chief Executive OƯicer
Location: Madison, WI (Open to remote for the right candidate)
Plumb Pharmaceuticals, Inc. (“Plumb” or “the Company”) is an early-stage pharmaceutical company focused on substantially increasing the duration of existing proprietary and oƯ-patent small molecule compounds. The Company’s DurVantage platform has shown increases in drug release out to 12 weeks in vitro and in vivo. Its lead compound is naltrexone, which is used to treat Opioid Use Disorder. The longer duration of this product could provide significant advantages for patient compliance. Plumb has evaluated multiple compounds on the platform.
Job Description: The Chief Executive OƯicer (“CEO”) at Plumb will report to the Board of Directors and will be responsible for overseeing the organization. Initially, the successful candidate will be responsible for the following areas:
Fundraising - Plumb seeks to raise a seed-round of at least $1.5 million within 12-months of hiring to complete its pre-clinical work in preparation for its pre-IND meeting with the Food and Drug Administration. A Series A round of $6-8 million will be required to conduct the IND-enabling work including GLP toxicology studies, pilot GMP manufacturing and submission of the IND and conduct of the required Phase I human clinical trial.
Business Development - Initially Plumb plans to develop long-acting compounds for the pharmaceutical industry to take to market. This strategy requires a CEO who will have and continue to develop connections with mid-size and large pharmaceutical companies. The successful candidate will secure partnerships with multiple companies to generate revenues for Plumb.
Strategy - The CEO will be responsible for the overarching corporate strategy, including technical and commercial elements, that will lead the Company to success. The strategy and tactics will be updated at least annually. The CEO will be responsible for securing management objectives on an annual basis for all employees.
Operations - Initially the CEO will have direct reports of the Chief Scientific OƯicer and the Chief Technology OƯicer. In addition, the successful candidate will oversee the financial, human resources, legal and IT operations and facilities or as the Company grows, those in charge of those functions.
Governance - The Company has a Board of Directors, to which the CEO will report. The successful candidate will:
-Participate as a member of the Board of Directors
-Schedule and prepare materials for at least quarterly meetings
-Proactively communicate with Board members regarding strategy and tactics d. Create a Scientific Advisory Committee, and other committees as needed, in consultation with the Board of Directors
-Manage shareholder relationships, including required shareholder meetings and communications
Compensation and Benefits - As an employee of Plumb, the successful candidate will receive a bonus based upon their success in raising the Seed Round of funding. Employee compensation will include options to purchase shares of the Company’s stock. Once the initial round of funding is successfully raised, the CEO will receive an annual salary, and an annual bonus contingent upon the achievement of established management objectives. The candidate will receive the Company’s standard benefits package once the Seed Round of funding has been raised.
If you are interested in this opportunity, please fill out the application below.
