PYC pyc therapeutics limited

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Ann: Chief Executive Officer Resignation-PYC.AX, page-3

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lifeistooshort

233 Posts.

18/07/16

17:46

Post #: 18300174
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Originally posted by andrewk65 ↑

Well thats pretty much it then i guess. No inhibitor and pretty much nothing else otherwise why walk. Tomorrow will be interesting. Or could be awesome lol

CHIEF EXECUTIVE OFFICER RESIGNATION
Perth, Australia, 18th July 2016: Today, Dr Richard Hopkins has announced he will resign as Chief
Executive Officer of Phylogica Limited (“PYC”) to pursue other strategic interests. Dr Hopkins will
retire immediately as a Director and step-down from his CEO role at the beginning of October. Dr
Hopkins has been the CEO since July, 2013.
PYC Chair, Ms Stephanie Unwin thanked Dr Hopkins for his contribution as CEO and his previous
roles in the company; “Richard has worked with Phylogica for 10 years, is a founding shareholder,
and has played a major role in overseeing development of the company’s core Phylomer technology
and, more recently, the strategic focus on intracellular drug development.”
Dr Hopkins and Ms Unwin confirm the decision to step-down was mutual and amicable. We
recognised the time was right to bring in a new CEO to complete Phylogica’s transition towards
becoming a drug development company. “After 16 years working with the Phylomer technology the
time is personally right for me to pursue other opportunities” said Dr Hopkins.
The Board has commenced an international search for senior leadership role/s to take PYC through
its drug development phase to preclinical trial. In the interim, the Board will draw upon its strong
industry experience to assist management with its executive activities and to support Dr Paul Watt
and the scientific team overseen by PYC Chair, Ms Stephanie Unwin.
The PYC board’s industry experience comprises Dr Doug Wilson (Dr Wilson has spent his career in
the international pharmaceutical industry and has overseen the approval and taking to market of 10
drugs. Dr Wilson is now a biotech and pharma consultant, chairs listed ASX company Adherium Ltd
and is on the board of AFT Pharmaceuticals), Mr Jeremy Curnock Cook (Mr Curnock Cook has a 45
year career in microbiology, cancer research and biotechnology; he is now responsible for managing
investments in over 160 private and public companies and has represented over 35 companies
through board positions) and Dr Bernard Hockings (Dr Hockings is an Interventional Cardiologist
and Clinical Associate Professor in medicine) Dr Hockings is a major shareholder in PYC and is
active in both private equity and venture capital.
Ms Unwin said “We have a very experienced Board, scientific and management team who will work
together as the Company enters into the next phase of its development and path to
commercialisation of the Phylomer Peptide libraries. As we search to fill the emerging leadership
role/s we will be supported by relevant commercial advisors and a panel of scientific experts to
strengthen the value proposition for what is a unique and exciting technology with much potential to
expand the universe of druggable targets in the therapeutic area of oncology.”
We look forward to updating shareholders on PYC’s progress against its strategic plan in July.

Expand

Anybody have any insight into what happened?

This is a very odd resignation. RH was on top of his game and appeared to be loving every minute.

Has he stuffed up by agreeing to increase expectations by promising regular updates, or is this a run of the mill personality clash?

Time for a quarterly update...

PYC Price at posting: 1.4¢ Sentiment: Buy Disclosure: Held
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Last $1.27		Change 0.005(0.40%)		Mkt cap ! $740.7M

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