- Race Oncology (RAC) announces that Dr Peter Smith assumes the role of Executive Director following Damian Clarke-Bruce’s resignation as CEO
- Dr John Cullity is retiring from his Non-Executive Director role
- Dr Daniel Tillett joins as a consultant to drive the company’s lead asset, bisantrene, toward clinical development
- These changes aim to enhance the clinical success of bisantrene
- Race shares last traded at 83 cents
Race Oncology (RAC) has announced key leadership changes aimed at propelling its lead asset, bisantrene, towards clinical success.
Dr Peter Smith has assumed the position of Executive Director, following the resignation of Damian Clarke-Bruce, who stepped down as CEO.
In the meantime, Dr John Cullity, a long-serving Non-Executive Director, has declared his retirement from the role.
RAC’s Independent Non-Executive Chair, Mary Harney, emphasised the board’s commitment to delivering value to shareholders and optimising bisantrene’s potential.
“In today’s news, we have moved quickly to rebalance the team in a manner which we believe both fits with shareholder expectations and enables us to move forward, making appropriate adjustments to and ultimately delivering on our primary focus of getting bisantrene into the hands of partners and patient,” she said.
Dr Daniel Tillett, possessing substantial knowledge of bisantrene, will serve as a consultant to shape Race’s strategic plan.
Regarding Dr Smith, his annual remuneration will amount to $190,000, with 40 per cent of his time allocated to the role.
Race shares last traded at 83 cents.