Telesis Bio (NASDAQ:TBIO) promoted its Chief Operating Officer Eric Esser to the CEO position on Thursday, as its founder Todd Nelson stepped down after over five years at the helm.
The leadership transition comes as the life sciences company prioritizes its commercial efforts on its DNA and RNA synthesis technologies, Gibson SOLA and BioXp mRNA.
Effective immediately, Nelson will assume a board-only role, and Esser will take up the CEO role and join the company’s board, Telesis (TBIO) said.
Citing new commercial focus and restructuring initiatives, the company noted that its operating expenses, excluding goodwill impairment, dropped to $10.8M in Q4 2023 from $14.3M in the prior-year period.
“Eric is a proven leader and the right person to lead Telesis Bio in its next chapter,” Telesis (TBIO) Chairman Frank Witney remarked. “Having successfully run Telesis Bio operations for the past two years, he brings a deep understanding of our customers, operations, and people and will hit the ground running.”