Life Sciences, Startup, diabetes

Ailing Metabasis Hires Advisory Firm

San Diego’s Metabasis Therapeutics (NASDAQ: MBRX), which warned in May that it might have to cease operations, says it has hired a financial advisory firm to help the company evaluate its strategic options. Metabasis said earlier this week that Mark Erion, the company’s CEO, chief scientific officer, and director, has resigned to join Merck & Co. as a vice president overseeing work on diabetes and obesity. Erion was among a handful of executives remaining at Metabasis, which named chairman David Hale as executive chairman.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call 858-202-0492