Avid Bioservices, Inc. announced that Richard (Rick) B. Hancock has been named interim president and chief executive officer, effective immediately. Mr. Hancock will also continue to serve on Avid's board of directors. He succeeds Roger J. Lias, Ph.D., who has resigned from the company and its board of directors.

In the meantime, the company is commencing a search for a permanent chief executive officer. Mr. Hancock most recently served as president and CEO of Althea Technologies, Inc.