Chimeric Therapeutics (ASX:CHM) has reassured investors of its strategic direction and clinical momentum, announcing a forthcoming refresh of its board and reaffirmed backing from major shareholders following its Annual General Meeting held on 25 November.
The Australian cell therapy company said it had received “substantial feedback” from shareholders, including from its largest institutional backer, on a range of governance and operational matters. Chimeric said the board and management had taken this feedback “with significant consideration” and would review appropriate next steps as part of a broader governance transition.
Central to that transition is the planned renewal of the company’s board of directors, which Chimeric said had already been in early planning and would now be prioritised. The process includes the appointment of a new chairperson. The company’s major US Family Office shareholder will nominate a non-executive director for appointment to the board, reflecting its continued support for Chimeric’s clinical and commercial strategy. Additional board changes will be announced once the selection process concludes and suitable candidates are appointed.
Outgoing Executive Chairman Paul Hopper, who founded the company in 2020, said he remains firmly committed to Chimeric’s future as its second-largest shareholder. “Having founded Chimeric in 2020, it has presented numerous opportunities, and I’m grateful for the dedicated team and shareholders,” Hopper said. “I’ll continue to retain my significant shareholding in the company and wish Rebecca and the team every success going forward.”
The company also highlighted continuing progress in its lead clinical program. Chimeric’s CHM CDH17 Phase 1/2 trial is showing ongoing disease control and tumour shrinkage in patients, with additional data expected in early 2026 as the study approaches completion.
Chief Executive Officer Dr Rebecca McQualter said clinical investigators remain encouraged by the emerging results. “CHM CDH17 is having a positive impact for patients and our clinical investigators remain highly encouraged by what they’re seeing,” she said. “We look forward to reporting more on this including updates regarding duration over the coming months. As we refresh the Board and bring our lead asset through to the end of Phase 1, we’re very optimistic about the future of the company.”