Australian regenerative medicine company Regeneus (ASX:RGS) appointed a former senior industry executive as its new CEO.
Leo Lee, who has enjoyed a long industry career with Merck, MSD and Allergan, is the company's new CEO having served on its board for the past year.
He succeeds outgoing John Martin who served in the role for ten years and will remain on the board as a non-executive director.
The board thanked Mr Martin, saying "his vision and extensive efforts in the development of Progenza and Sygenus into important assets for Regeneus, which will transform the quality of life of patients."
In a statement, the company said it "continues to focus on Regeneus becoming a global regenerative medicine company developing therapeutics for osteoarthritis, neuropathic pain and dermatology while maximizing value for our shareholders. Leo's leadership will serve the Company as it embarks on accelerated entry into major markets around the world."
"I am thrilled to be joining Regeneus at such an exciting time. I see tremendous opportunities for accelerating patients' access to our therapies around the world and delivering significant shareholder value. Execution will be our priority as we explore options around the world for Progenza and Sygenus," said Mr Lee.
The company is currently working towards securing its first major clinical licence of Progenza in Japan.
According to the company, Mr Lee has extensive networks in the pharmaceutical industry and speaks Japanese and Chinese.
He has extensive experience in leading pharmaceutical companies in Japan. He was the former president of Japan for both Merck and Allergan. He has also held senior commercial and sales roles in MSD, IQVIA and Accelrys. Angeles.