Peak Serum removes founder as company moves toward sale

WELLINGTON — Biologics maker Peak Serum Inc. has promoted a new CEO to replace its founder and owner as a court-appointed bankruptcy trustee prepares to sell the company.

In a statement from the Wellington company Tuesday, the U.S. bankruptcy trustee in charge of the company’s case ordered that Thomas Kutrubes be removed from the firm. Michael Dodge, the company’s current global sales director, was selected as interim CEO.

Kutrubes is the founder and full owner of Peak Serum, which develops fetal bovine serum, a compound derived from cow fetuses and a byproduct in meatpacking. The substance…