Curaxis Pharmaceutical Corp., one known as Voyager Pharmaceuticals, is reorganizing under new management.

The company (OTCQB: CURX) also plans to continue development of a potential treatment for Alzheimer’s.

The changes were announced in a statement early Monday with current management having “elected to resign,” Curaxis said.

Taking over as interim chief executive officer and board chairman is Timothy Wright, a former executive at Elan, Dupont Merck and Covidien.

Curaxis is also reorganizing its finances.

Under the Voyager name, the company attempted an IPO in 2005 but failed. Due to lack of funding, it stopped Phase III clinical trials in 2006.

One executive, finance chief Judith Geaslen, and one board member, Dr. Bert Spilker, will remain as part of the new management.

Board chair and CEO Patrick Smith is stepping down.

The proposed Alzheimer’s drug is called Memryte.

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