A Madison, WI-based cancer drug development company is in a holding pattern as it searches for a new leader to replace the chief executive who departed early last year.

Quintessence Biosciences has been without a CEO since Ralph Kauten, one of Wisconsin’s more successful biotech entrepreneurs, resigned in early 2016, Kauten says. Kauten, who continues to serve on the company’s board of directors, reportedly joined Quintessence in 2002.

Launched in 1999, Quintessence was once considered promising, in part because of the pedigrees of its co-founders and now-departed leaders. The company initiated a clinical trial of one of its drug candidates in 2009, and in 2012 raised more than $1.4 million from investors, according to an SEC filing. Read the full story here.