Appointment of industry leaders to Regeneus Board provide foundation for global growth rollout
Appoints International Directors for Global Growth
Sydney, April 29, 2019 AEST (ABN Newswire) - Regeneus Ltd (
ASX:RGS) (Regeneus or the Company), a clinical-stage regenerative medicine company, is pleased to announce the appointment of John Chiplin, PhD and Alan W. Dunton, M.D. to its Board of Directors, effective 29 April 2019 as independent, Non-Executive Directors.
Highlights
- New Board appointments of highly successful life sciences and biotechnology industry leaders provide Regeneus with the right capabilities and experience to execute its global growth strategy
- The two appointments - John Chiplin, PhD and Alan W. Dunton, M.D - bring significant experience and success in leading and growing large-scale life sciences and biotechnology companies internationally
- Relevant to Regeneus' global growth strategy, Dr Chiplin brings significant experience in sourcing global capital and Dr Dunton brings extensive experience in global drug development, commercialisation and pain management
- Coinciding with these appointments, Roger Aston and John Martin will step down from the Board and current Non-Executive Director Barry Sechos will assume the role of Non-Executive Chairman
- Regeneus is now well placed to accelerate its global growth strategy focused on the global pain market
The appointments add complementary skills and significant international experience to Regeneus' Board and will support the Company's global growth strategy focused on the global pain market. This represents a huge and growing market opportunity, with the global neuropathic pain market alone estimated to be worth US$69 billion and forecast to reach US$79 Billion by 2024(see Note below).
Dr Chiplin's proven success sourcing global capital and Dr Dunton's extensive experience in global drug development, commercialisation and pain management expertise will provide invaluable support to Regeneus in the further development and commercialisation of its Progenza and Sygenus platforms. Pre-clinical studies for Sygenus and a Phase I clinical trial for Progenza provide strong validation of both platforms' ability to effectively treat pain.
Regeneus is now well placed to accelerate its growth strategy focused on the global pain market.
John Chiplin, PhD
Dr Chiplin is Managing Director of Newstar Ventures Ltd. and has significant operational, investment and transactions experience in the international life science and technology industries. Between 1995 and 2014, Dr Chiplin served as CEO at three leading publicly-listed software, biotechnology and cancer immunotherapy companies.
As Executive Chairman at Scancell Holdings PLC, he successfully led a GPB 20 million fundraise from institutional investors and as Executive Director at Benitec, Inc., he facilitated the company's IPO on the NASDAQ and a $46 million raising with US institutional investors. Based in London, UK, Dr Chiplin currently serves on the boards of Adalta (ASX:1AD), Batu Biologics, Cynata Therapeutics (ASX:CYP), Scancell Holdings plc (LON:SCLP) (Chairman) and ScienceMedia.
Alan W. Dunton, M.D.
Dr Dunton is a senior pharmaceutical and biotechnology industry leader with over 35 years of experience in senior company leadership roles. With a background in pain management, his experience spans leadership roles for large pharmaceutical research and development organisations to private biotechnology companies focused on prescriptive treatment and the development and commercialisation of over-the-counter drugs on a global and local scale.
Dr Dunton has served as a director of 18 companies and is based in Florida, USA. He is the founder and principal of Danerius, LLC, a consultancy that provides specialised advisory services to pharmaceutical and biotechnology organisations both in the private and public sectors. Over the last few years, Dr Dunton has also served as an independent board director for a variety of publicly-listed biopharmaceutical and drug development companies such as Palatin Technologies, Oragenics and CorMedix and the private company, Cytogel Pharma.
Regeneus Chief Executive Officer Leo Lee said: "I am very pleased to welcome both John and Alan to the Board to support us through the Company's next phase of growth and commercialisation. Their appointments bring a new mix of invaluable skills to support us through our next phase of growth, as we focus on commercialising our technology to address the huge and growing global pain market. With the deep experience John brings in raising capital internationally and Alan's extensive experience in commercialising drugs on a global scale, I am confident of the significant value that will result from their strategic guidance and international connections."
Commenting on his appointment, Dr John Chiplin states: "Regeneus is now entering its next phase, as it looks to accelerate its growth globally and raise the capital required for its next phase of research and development and to support the commercialisation of its technology platforms. I am looking forward to playing a strategic role in helping the Company access global capital, which will fund an accelerated growth strategy into global pain markets."
Commenting on his appointment, Dr Alan Dunton said: "Pain is common to everybody at some stage of their life and for a significant portion of the world's population, it is something that is managed with medication, injections or surgery. Regeneus has developed two scalable allogeneic stem cell platforms that already have shown in pre-clinical and clinical studies, to effectively treat pain. I see great potential for this technology to address a large, global pain market and am excited to join the Board to help support the Company's global growth plans and commercialise these technologies."
Roger Aston and John Martin to step down as Non-Executive Directors
To coincide with Dr Chiplin and Dr Dunton's appointments, Roger Aston and John Martin will step down from their roles as Non-Executive Chairman and Non-Executive Director respectively, effective 29 April 2019.
Roger steps down as Non-Executive Chairman after 6 years on the Board of Regeneus and follows an increasing level of professional commitments driven by his current appointments.
John steps down as Non-Executive Director after 10 years of service with Regeneus. The Board would like to acknowledge the instrumental role played by John in the creation of Regeneus and his undisputed vision and drive to support the development of Progenza and Sygenus into important Company assets.
Barry Sechos will step into the role of Non-Executive Chairman, effective 29 April 2019.
Barry Sechos, incoming Non-Executive Chairman said: "The Management and Board would like to express their heartfelt thanks to both Roger and John for their significant contribution over the years and acknowledge the key roles they have played in steering Regeneus through its growth."
Note: Source: Datamonitor Healthcare - Neuropathic Pain Market Spotlight 2018.
About Regeneus Ltd
Regeneus Ltd (ASX:RGS) is a Sydney-based clinical-stage regenerative medicine company using stem cell technologies to develop a portfolio of novel cell-based therapies. The regenerative therapies seek to address unmet medical needs in human health markets, focusing on neuropathic pain, including osteoarthritis and various skin conditions, with its platform technologies Progenza(TM) and Sygenus. Visit www.regeneus.com.au for more information.
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