PharmAust names highly experienced biotech specialist as chief executive officer
Clinical-stage biotechnology company investigating unique treatments for both humans and animals PharmAust (ASX: PAA), has chosen a highly experienced industry specialist with a wide range of skills to lead it through its next growth phase.
Dr Michael Thurn will take over as chief executive officer from 1 September 2023 and add his expertise in such areas as drug discovery, development, regulation and commercialisation to this leadership role.
PharmAust chairman, Dr Roger Aston, said Dr Thurn will be bringing a wealth of experience to the company at a time when it has a number of key projects underway.
“I am thrilled that this robust and competitive process has culminated in identifying a biotechnology leader of Michael’s calibre,” Dr Aston said.
“Michael’s combination of enthusiasm and overall experience with drug regulation, clinical development, shareholder relations with retail and institutional investors and capital raising was outstanding.”
“As we look to the future the Board is very confident Michael will continue to build momentum on the positive interim results from the ongoing Phase 1 Motor Neurone Disease (MND) study to increase market awareness and create significant value for our shareholders.”
MND studies making good progress
Just last week, PharmAust reported it was making strong progress on its Phase 1 clinical trial of its lead drug candidate monepantel (MPL) for assisting people with motor neurone disease/amyotrophic lateral sclerosis (MND/ALS).
Results from an interim analysis of the trial indicated that neurofilament light chain (Nfl) protein concentrations in the plasma of participants in its Phase 1 clinical trial do not increase following MPL treatment – a positive sign.
PharmAust hopes that MPL could eventually receive orphan drug designation by the Therapeutics Goods Administration (TGA) and US Food and Drug Administration (FDA) for motor neurone disease, which affects over 350,000 people globally and kills more than 100,000 people yearly.
Proven leadership record
With the company making strong progress with these and other trials, Dr Aston noted that the new chief executive officer has a proven leadership record with a number of research organisations.
Notably, he has played key roles in leading a variety of FDA investigational new drug (IND) applications across a range of therapeutic areas and the evaluation of drugs and vaccines for registration in Australia as a part of the Drug Safety Evaluation Branch (DSEB) of the TGA.
He has also led the execution of Phase 1 and 2 clinical trials and business development activities across animal and human health products.
During a career of more than a quarter of a century in the biotechnology industry, Dr Thurn’s previous leadership roles include co-founding MARP Therapeutics and roles with Botanix Pharmaceuticals (ASX: BOT), Mimetica, Spinifex Pharmaceuticals, Cytopia, Xenome and Novogen.
The new chief executive officer said this was a great time to be joining PharmAust.
“We have an exciting and maturing animal health and human pipeline, an excellent board and world-class clinical advisors and collaborators to draw knowledge.”
PharmAust has confirmed that Dr Aston will remain chairman of the board but will transition into a non-executive role.