By Maria Armental

Agios Pharmaceuticals Inc. (AGIO) Chief Executive David Schenkein will leave his position in February, capping a nearly 10-year run at the helm of the company.

Jacqualyn Fouse, a former Celgene Corp. executive who joined Agios's board in December, is slated to succeed him as CEO, the company said Tuesday. Celgene is one of Agios's largest investors with a roughly 12% stake, according to FactSet data.

The Cambridge, Mass.-based biopharmaceutial company targets cellular metabolism to treat cancer and rare genetic diseases.

Dr. Schenkein, who joined Agios in August 2009 and led the company's initial public offering, will take on the role of executive chairman on Feb. 1 and serve on the board's science and technology committee, Agios said.

During his time as CEO, Dr. Schenkein oversaw the evolution of Agios from a pure research organization to a fully integrated biopharmaceutical company with two approved medicines, three additional medicines in clinical development and others in the research pipeline, according to the company.

The CEO change comes as the biopharmaceutical company increases spending into research as commercial operations ramp up.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

September 04, 2018 18:12 ET (22:12 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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