New Novogen (ASX:NRT) CEO, Dr James Garner, has written to the company's shareholders on his first day in the job.
Dr Garner succeeds Iain Ross who was acting Chief Executive following the sudden resignation of founder and former CEO, Graham Kelly, in July last year.
Dr Garner trained as a medical doctor and has enjoyed a long career in the pharmaceutical industry and drug development, most recently as the Head of the Unit Development Office, AP R&D with Sanofi based in Singapore.
"I have always been motivated first and foremost by a desire to apply scientific knowledge for the benefit of patients in need. This will continue to be my driving passion at Novogen," he told shareholders.
"Our company can play an important role in the treatment of patients grappling with some of the most intractable and devastating diseases known to medicine. We have a strong foundation, thanks to the work of excellent scientists over the last several years. We are well-funded, with the resources to advance each of our three lead molecules into early clinical trials."
He continued, "Nonetheless, the journey ahead of us is long and challenging. In my experience with the pharmaceutical sector, I have sometimes seen initially promising molecules fail to live up to expectations. But I have also seen the enormous impact that successful products can have on the lives of patients and their families, and I hope that our work in Novogen will play a comparable role in the fight against cancer."
Noting the extent of the challenge of drug development, Dr Garner said he plans to review of the company's most advanced programs – Cantrixil, Anisina and Trilexium – with the goal to progress their development "in the fastest and most effective way possible."
"My initial estimation is that Cantrixil, the most advanced of our programs, will begin recruiting patients in the second half of this year. I will also be reaching out to some of our key investors and partners to learn how we can work together more effectively and better communicate the value inherent in our business," he added.