Immuron Chairman Transition
30 6월 2023 - 7:00PM
Immuron Limited (ASX: IMC; NASDAQ: IMRN), an Australian based and
globally integrated biopharmaceutical company, is pleased to
announce the transition of Paul Brennan from Non-Executive Director
to Chairman, effective July 1, 2023. Dr Roger Aston will continue
on the Board, transitioning from Chairman to Non-Executive
Director.
The Board determined that, having successfully
steered the Company to US Food and Drug Administration (FDA)
approval of two Investigational New Drug Applications (IND) for
IMM-124E (Travelan®) and CampETEC (Campylobacter and
enterotoxigenic Escherichia coli), the time was now right for Paul
Brennan to transition to the role of Chairman as the Company
progresses, in parallel, to further commercial development of our
lead candidates and a commitment to pursue organic and M&A
growth strategies. Immuron is focusing on increasing penetration of
existing products in existing markets while seeking to increase
product offering, market geographies and sales channels to drive
revenue growth and ultimately shareholder value.
CEO Steven Lydeamore said, “On behalf of the
entire team at Immuron, I would like to acknowledge Roger’s
significant contribution to the Company as Chairman over the past
eleven years. His transition to a Non-Executive Director role
ensures we will continue to benefit from Roger’s guidance as Phase
2 trials progress for our lead candidates.”
Mr Brennan joined Immuron as a Non-Executive
Director in March 2022, and has extensive experience in the health
system through his clinical background and commercial exposure with
various multinational companies. Mr Brennan was Chief Executive
Officer (CEO) of PolyNovo Limited (ASX:PNV) for seven years from
2015 to 2021 and took the company from a market capitalisation of
$30M to a high of $2B. Prior to this Mr Brennan was Marketing
Director Australia and New Zealand and Sales Director New Zealand
for Smith & Nephew Healthcare for six years.
Commenting on his appointment as Chairman, Mr
Brennan said: “I am looking forward to the Chairman appointment at
such a pivotal time for Immuron, with the Company having made
significant progress in utilising its proprietary technology
platform to develop a novel class for orally delivered polyclonal
antibodies for the treatment of infectious diseases, and with the
Company recently implementing its plan to realise the full
potential of its commercial product, Travelan®.”
“I am excited to support and work with Steven to
drive the business towards achievement of its strategic objectives.
In the next twelve months the Company anticipates significant
milestones including completion of at least two clinical trials and
FDA submission of an IND for IMM-529 for Clostridioides difficile
(CDI). CDI can cause life-threatening diarrhoea and is the leading
healthcare-related gastrointestinal infection in the world. The
global CDI market was estimated to increase to $1.7B by 2026
according to a report by GlobalData. As international travel
continues to increase and the Company implements its strategies to
increase market penetration and market expansion, strong revenue
growth is anticipated to continue into FY24.”
This release has been authorised by the
directors of Immuron Limited.
COMPANY
CONTACT:Steven LydeamoreChief Executive
OfficerPh: +61 (0)3 9824 5254steve@immuron.com
About ImmuronImmuron Limited
(ASX: IMC, NASDAQ: IMRN), is an Australian biopharmaceutical
company focused on developing and commercializing orally delivered
targeted polyclonal antibodies for the treatment of inflammatory
mediated and infectious diseases.
For more information visit:
http://www.immuron.com
Immuron (NASDAQ:IMRN)
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Immuron (NASDAQ:IMRN)
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