A leadership change for Melbourne-based clinical stage oncology company Prescient Therapeutics (ASX:PTX), with the resignation of managing director, Dr Robert Crombie.
Prescient Therapeutics is developing novel compounds that show promise as potential new therapies to treat a range of cancers that have become resistant to front line chemotherapy.
Its lead drug candidate, PTX-200, inhibits a tumor survival pathway known as AKT, which plays a role in the development of many cancers, including breast and ovarian cancer, as well as leukaemia.
The company said it has initiated a search for Dr Crombie's replacement.
It said he intends to focus on other business opportunities and confirmed that Mr Paul Hopper will lead the company in his ongoing executive director role until a replacement is appointed.
“The Board is appreciative to Rob for his contributions in initiating the clinical programs and building the management team during the first 18 months of the company’s life,” said Chairman Steven Engle.
“We also appreciate Paul stepping into the leadership role on an interim basis.”
According to Mr Hopper, “From a clinical perspective, Prescient is in an enviable position. The company recently reported encouraging early clinical data from its Phase 1b/2 Investigator Sponsored Trial of PTX-200 in patients with breast, lung and oesophageal cancer. We expect strong news flow and progress across several cancer drug targets over the next year. As we continue to execute on our programs, we will seek a permanent CEO who is ready to take Prescient to the next level.”