New CEO for Prescient Therapeutics

Company News

Clinical stage oncology company, Prescient Therapeutics (ASX:PTX), has announced the appointment of Steven Yatomi-Clarke as its new CEO and Managing Director.

He succeeds Dr Robert Crombie who resigned last October.

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.

Mr Yatomi-Clarke has a long and distinguished career in the Australian capital markets with a particular focus on the life sciences sector, where he has played a leading role as both a corporate advisor and fund raiser to many biotechnology companies.

The company said his scientific education and commercial background have given him the rare quality of bridging the divide so often identified as an issue for Australian innovation.

He joins the company from leading Australian broker, Patersons Securities, where he served as Director in Corporate Finance.

“I’m honoured to accept the invitation to lead PTX. The impeccable science behind our programs; the world class scientific and clinical personnel involved and the fact that our programs are already in several clinical trials with imminent catalysts made it an opportunity that was impossible to resist,” said Yatomi-Clarke.

“Our drug candidates can potentially be used in a large range of treatment modalities in many different cancers. This substantially derisks our profile by giving us many shots on goal. I look forward to the challenge of driving these programs forward and informing the market of the incredible opportunities before us.”

According to Chairman, Steven Engle, “After a broad search for the best possible leader to take PTX forward, it became very clear that Steven was the ideal candidate for the role. As a non-executive director of the Company since its founding, he understands the business strategy well, and moreover, has a deep appreciation and knowledge of our science and its application in the clinical setting. We are delighted to have him as Managing Director.”

PTX Chief Scientific Officer, Professor Said Sebti said, “I have had the pleasure of working closely with Steven, especially over the past few months, and he has been instrumental in refocusing the Company’s clinical strategy, operations and communicating this exciting story with the investment community. I have a high regard for his scientific and business acumen. PTX’s drugs are in safe hands under his stewardship.”