Epichem appoints new CEO to steer drug business

ASX-listed biotech company, PharmAust, has this week appointed experienced pharmaceutical and healthcare executive, Colin La Galia, as the new CEO for its fully-owned research and development subsidiary, Epichem.

Mr La Galia was previously the Regional Business Director and Commercial Head of Asia Pacific, China and Japan for Abbott Rapid Diagnostics and he formally held senior roles for over 20 years at Alere Inc, Origin Healthcare, Hollywood Fertility Centre, GlaxoSmithKline and Merck Sharpe & Dohme.

Mr La Galia is a highly-credentialled executive in pharmaceuticals, devices and diagnostics, both locally and internationally.

He is based in Perth and has now joined the Epichem Board.

PharmAust Executive Chairman Dr Roger Aston said: “We are all delighted that Colin has decided to join Epichem. He has an outstanding record in driving performance and adding value and we are confident that Colin will be able to grow and diversify the Epichem business and take the business to the next level of increased revenues and profitability.”

Dr Martine Keenan will step down from her role as CEO at Epichem, to resume her former role as Epichem Head of Drug Discovery and will join the company’s board.

Dr Aston added: “Martine’s tenure as Epichem CEO has seen the revenues grow to the highest point in Epichem’s fifteen-year history and we are delighted that she will be full-time Head of Drug Discovery again and also be available to us on the Epichem board. The changes are a win all around for both Epichem and PharmAust”.

PharmAust is a clinical-stage drug development company developing targeted cancer therapeutics for humans and animals and the company specialises in repurposing drugs, potentially lowering the risks and costs of development.

The company’s lead drug candidate is Monepantel, a novel, potent and safe inhibitor of the pathway that drives the development of cancer.

The drug has been evaluated in Phase 1 clinical trials in humans and dogs and was well tolerated, producing a significant reduction in key prognostic markers for cancer.

Epichem is a contract medicinal chemistry company that is forecasting $4.2m revenues in the current financial year.

The company is located at Technology Park in Perth and says that it has delivered products and services in synthetic and medicinal chemistry to the global drug discovery and pharmaceutical industries in over 40 countries worldwide for over 15 years.

Is your ASX-listed company doing something interesting? Contact : matt.birney@businessnews.com.au