Biotechnical company PharmAust has reappointed Dr Michael Thurn as Managing Director and Chief Executive Officer and Dr Nicky Wallis as Chief Scientific Officer.
PharmaAust said these appointments are part of a major reset as it strives to become a global leader in neurodegenerative diseases.
Dr Thurn, previously CEO of PharmAust, was instrumental in creating greater awareness about the company, both locally and internationally, and has driven clinical and commercial strategies since September 2023.
PharmAust said he oversaw the successful completion of the Phase 1 MEND Study of monepantel (MPL) being developed for the treatment of motor neurone disease/ amyotrophic lateral sclerosis (MND/ALS), and engaged with the world’s premier regulatory agency, the United States (US) Food and Drug Administration (FDA), that resulted in the company being granted a Pre-Investigational New Drug meeting and Orphan Drug Designation for MPL for the treatment of ALS.
Dr Thurn established a world-class Scientific Advisory Board, made several key management hires and formed a partnership with clinical study design and statistical analysis specialists Berry Consultants. His efforts in creating and maintaining strong shareholder relations resulted in a successful capital raise at a premium late last year.
Dr Thurn’s extensive experience and leadership in the pharmaceutical industry will be invaluable as
PharmAust is moving forward with the pivotal registration adaptive Phase 2/3 STRIKE clinical study of MPL for the treatment of ALS, which is anticipated to commence enrolment in the second half of 2024s and said Dr Thurn’s experience and leadership will be invaluable on this pathway.
Non-Executive Chairman Mr Sergio Duchini commented:
“We are delighted to welcome Michael back to PharmAust as Managing Director and CEO. His deep understanding of our lead MPL program and proven track record of successful leadership, shareholder engagement and building company value will be crucial as we continue to advance our clinical and commercial objectives.”
As a result of Dr Thurn’s appointment, current Managing Director Mr John Clark will return to his previous role of Chief Operating Officer and step down from the Board of Directors.
PharmAust was up 13% in morning trade priced at 21 cents a share.