CoCensys Names Scientist Nichol as Chief Executive

IRVINE — CoCensys Inc. has named F. Richard Nichol, a seasoned scientist and entrepreneur, as its new chief executive, filling a position that has been vacant since the drug company’s former longtime top executive resigned three months ago.

Nichol, 54, helped found IBRD, an Irvine company that runs clinical trials for drug firms, in 1975.

Nichol, who holds a doctorate in microbiology, sold the company in 1990 to Tokyo-based Kuraya Corp. but continued to run the company for Kuraya for five years. The company is now called IBRD-Rostrum Global Inc.

Nichol said he left the company in 1995 over “philosophical” differences with Kuraya and has been running his own consulting firm.

CoCensys, which employs 172, lost $12 million, or 55 cents a share, on revenue of $9.9 million for nine months ended Sept. 30. The company develops products to treat neurological and psychiatric disorders.

Nichol replaces CoCensys’ former CEO, Daniel L. Korpolinski, who resigned last October to start another company.