19/07/2013 - 11:39

Phylogica appoints chief scientist as new CEO

19/07/2013 - 11:39

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Phylogica appoints chief scientist as new CEO
Phylogica has restructured management to pursue opportunities to work with other companies in its research.

Perth-based biotechnology company Phylogica has appointed Richard Hopkins chief executive officer as part of wider management changes aimed at pursuing work opportunities with other research companies.

In a direct switch, former CEO Paul Watt will now take Dr Hopkins' previous role as chief scientific officer.

Current director and chief financial officer Nick Wolfe will retire at the end of September, and will be replaced by current company secretary Graeme Boden.

Phylogica chairman Doug Wilson said the company management structure had been reorganised to position it for ongoing contractual obligations and emerging strategic opportunities.

"Importantly, the changes will decrease the company's cost base and make the company's aspirations more achievable," Dr Wilson said in a statement.

In April, Phylogica engaged investment bank Griffin Securities to formally evaluate strategic opportunities.

At the time, then CEO Dr Watt said the company's work on its phylomer platform, used for discovering breakthrough peptides, had resulted in four alliances with top 10 pharmaceutical companies and attracted the interest of other companies that wanted to work with Phylogica.

Dr Hopkins has been with Phylogica since 2006, was chief operating officer for some time and is a founding shareholder.

Prior to joining Phylogica, Dr Hopkins held senior research roles with the Telethon Institute for Child Health Research, and the departments of medicine at the University of Western Australia and Murdoch University.

Dr Wilson said Dr Watt's change to chief scientist would allow him to focus on developing new and exciting scientific and research opportunities for the company.

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