David S. Kabakoff, senior vice president of research and development for Hybritech’s diagnostic products since 1983, will become president and chief executive of Corvas Inc. on April 17, Corvas President John E. Crawford said Tuesday.
Corvas, a San Diego-based biopharmaceutical firm, was founded in May, 1987, by scientists from the Research Institute of Scripps Clinic. The company is developing diagnostic and therapeutic products that will aid in the management of thrombosis, the undesired formation of clots in the vascular system.
“With the introduction of our first product next month, David’s arrival comes at a critical time,” said Crawford, who will become executive vice president and chief operating officer when Kabakoff arrives in April.
In addition to the diagnostic product that will be introduced in April, Corvas will begin marketing two additional diagnostics in late 1989, Crawford said. The company does not expect to introduce its first therapeutic product until the mid-1990s, Crawford said.
Corvas, which raised $3.7 million during a May, 1988, venture capital round, hopes to attract $5 million in funds during a round to be completed by summer’s end, Crawford said.