Meditech

Date: Wed, 29 May 2002 14:11:39 +0800
Subject: Meditech Research Limited - Latest News


MRL Latest News - www.mrl.com.au


29th May 2002

APPOINTMENT OF BOB MOSES AS CHAIRMAN

Meditech Research is pleased to announce the appointment of Bob Moses as Chairman of the Company. Bob joined Meditech's Board in October last year following his retirement as Corporate Vice President of CSL Limited. Acting Chairman, Prof. Richard Fox said, "Bob brings to Meditech more than thirty five years of experience in the pharmaceutical and biotech industry. His commercial understanding greatly strengthens the Company at a time when its technology is emerging from the laboratory and attracting the attention of multinational pharmaceutical companies."

Bob Moses conveyed the Board's gratitude to Professor Richard Fox for accepting the role as interim Chairman for the past year during which time he led Meditech's transition to its new structure and strategic direction. Professor Fox will remain a highly valued member of the Board and will continue the vital role as leader of Meditech's clinical trial activities as well as providing the Company with the benefit of his internationally recognised knowledge of oncology. Dick Fox is Chairman of the of Department of Hematology and Clinical Oncology at the Royal Melbourne Hospital, which is a member of the Centre For Developmental Cancer Therapeutics (CDCT), a consortium of six highly regarded cancer research institutions; The Royal Melbourne Hospital, The Walter & Eliza Hall Institute, The Peter MacCallum Cancer Institute, The Ludwig Institute, The Austin and Repatriation Medical Centre, and Western Hospital.

The CDCT, with funding from Meditech and guidance from Dick Fox, recently successfully completed two Phase I clinical trials of Meditech's HyACT (TM) anticancer products, HYDOX (TM) and HyFIVE (TM). Professor Fox is currently overseeing planning for a Phase II Clinical Trial.