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Arcturus reinstates CEO and COO, appoints board chairman

Arcturus Therapeutics Ltd. reinstated Joseph Payne as president and CEO and Pad Chivukula as COO and chief scientific officer after it reached a settlement with Payne.

In addition, the company appointed Peter Farrell as board chairman.

After terminating him as CEO in January, Arcturus Therapeutics had filed a lawsuit against Payne in March, alleging breaches of contract and fiduciary duties.

Under the settlement, both parties agreed to terminate all pending litigation and appoint Payne's nominees to its board.

San Diego-based Arcturus Therapeutics develops and markets lipid nanoparticle siRNA drug delivery systems for the orphan disease market.