I am writing to shareholders to mark my standing down as Chief Executive Officer and Managing Director to introduce you to Dr Gisela Mautner, the person who will lead the Company into what I believe will be a highly successful commercial phase.
My role was to get the Company underway, to build the technology platform and identify its research and commercial opportunities, and to assemble the personnel capable of grasping those opportunities. I am confident that I am leaving with those goals met.
The Company’s current assets stand at:
A drug candidate (Veyonda® that is being positioned as a standard companion immune-oncology drug based on encouraging evidence of working in 3 clinical programs (DARRT, LuPIN, CEP) and a mechanism of action that we are confident will make it an essential companion for the US$20 billion annual checkpoint inhibitor therapy market (IONIC).
An exciting oncology drug pipeline of 3 first-in-class drug candidates, including 2 candidates designed to remove the aggressive growth of cancers such as brain gliomas and pancreatic carcinomas.
The granting of two IND applications by the U.S. FDA.
A substantial and potentially highly valuable patent portfolio with growing approvals, particularly in the main pharmaceutical territories of Europe, U.S. and Japan.
Establishment of the subsidiary, Nyrada Inc, and its successful 2020 IPO/ASX listing.
Establishment of subsidiary, Pharmorage, to house the Company’s emerging IP around inflammation and RNA vaccine technology.
These accomplishments leave the Company poised to enter the next phase of its lifecycle – commercialisation - and for that to happen, I came to the conclusion that it needed the guiding hand of someone with pharmaceutical industry experience. An industry tie-up is what I see as the inevitable outcome for Noxopharm given the scope of its opportunities, and the ‘big end’ of the industry is the obvious partner given the substantial size of those opportunities. Knowing the mind-set and needs of such a potential partner will be important.
Having worked alongside Dr Mautner as the Company’s Chief Medical Officer for the past three years, I am confident that she is the right person for this role. Broad experience as a senior executive with several major pharmaceutical companies, deep understanding of clinical trial design and management, training in business activities, affiliations in the pharmaceutical industry and an instinctive attention to detail mean that Dr Mautner has, in my opinion, the necessary credentials, supported by an experienced Board, to oversee the successful commercialisation of the Company’s business.
I intend to remain very much involved in the Company. A non-executive Board directorship and a consultancy role mean that my corporate knowledge is available to support Dr Mautner and the Board. My major shareholding, which remains in place, also ensures that I will continue to have a voice.
It just remains for me to thank a remarkable staff, hard-working fellow directors past and present, and most importantly, you the shareholders whose trust and support is critical to our success.
Yours sincerely
Graham Kelly
NOX Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
that is being positioned as a standard companion immune-oncology drug based on encouraging evidence of working in 3 clinical programs (DARRT, LuPIN, CEP) and a mechanism of action that we are confident will make it an essential companion for the US$20 billion annual checkpoint inhibitor therapy market (IONIC).
