Veloxis Pharmaceuticals, based in Horsholm, Denmark, has announced that Dr. William Polvino will step down as president and CEO after more than six years in the role.

“Bill has been instrumental in bringing the company successfully through its development phase with regulatory approval of Envarsus in both Europe and the U.S. and we thank him for his dedicated contribution,” said Mette Kirstine Agger, chairman of the board of Veloxis.

Envarsus XR is indicated for the prophylaxis of organ rejection in kidney transplant patients and has been launched in a number of European countries. Veloxis recently announced the launch of Envarsus XR in the U.S. and is transitioning from a development company into a commercial company.

Polvino will be succeeded by Craig Collard, who will take over as president and CEO immediately. Collard has more than 20 years of strategic and tactical leadership within the pharmaceutical industry. In 2003, he founded Cornerstone Therapeutics and chaired the company until 2014, where it was sold to Chiesi Farmaceutici for more than $250 million.