Intarcia Therapeutics is an American pharmaceutical company based in Hayward, California and incorporated under the laws of Delaware. It was founded in 1995 under the name "BioMedicines" and changed to its present name in 2004. In April 2012, the company announced its intention to relocate its headquarters to the Boston-area. In 2005, the executive leadership of Intarcia was largely vested in two people, Karling Leung and James Ahlers, President/CEO/Director and Vice President/CFO/Finance & Operations Officer, respectively. By 2012, Kurt Graves had replaced Karling Leung as President and CEO. As of 2012[update], Intarcia is engaged in development of a "potential once-a-year type 2 diabetes treatment". Referred to as ITCA-650, the therapeutic consists of exenatide delivered via its DUROS system, "a drug delivery platform that stabilizes and delivers therapeutic proteins and peptides".