Alchemia Appoints Charles Walker as Chief Executive Officer
BRISBANE, AUSTRALIA -- (Marketwire) -- 02/18/13 -- Brisbane drug
discovery and development company Alchemia Limited (ASX: ACL)
announced that Charles Walker has been appointed to the position of
Chief Executive Officer.
Charles (Charlie) Walker BSC (Hons) Pharmacology, MBA has accepted
the position effective immediately. Mr Walker, who has been
Alchemia's Chief Financial Officer for the last two years, brings 20
years' international life science industry experience to the role.
ACL Chairman Dr Mel Bridges said: "The Board is delighted to have
secured the services of a talented and experienced life sciences
executive to lead the Company through what promises to be a critical
development period. Charlie's financial, technical and operational
background and proven leadership skills will support the delivery of
key milestones, while maintaining a sharp focus on delivering
Mr Walker originally trained as a pharmacologist in the UK before
embarking on a career in the pharmaceutical industry. He subsequently
spent more than a decade in corporate finance advising international
technology companies, executing more than 40 successful corporate
transactions including IPOs, M&A agreements and fundraisings. He also
co-founded a successful life sciences investment banking firm in the
UK which was sold to Nomura International plc in 2005 realising
significant returns for investors.
Dr Bridges will resume his role as non executive chairman.
Mr Walker commented: "Alchemia is a fast growing, late stage drug
development company with a bright, international future. The next 12
months will be transformative both in terms of clinical and corporate
development and I am looking forward to building on the strong
foundations already established, and continuing to work to unlock
value for shareholders."
About Alchemia Limited - www.alchemia.com.au
Alchemia is a drug development company with late stage oncology
product pipeline (Phase II and III), and an FDA approved drug
Fondaparinux (a generic version of GlaxoSmithKline's Arixtra(R)) is
an injectable anticoagulant approved in the US for the prevention and
treatment of deep vein thrombosis (DVT) after knee or hip surg
The ANDA for generic fondaparinux was approved by the US FDA in July
2011 and launched in the US by marketing partner Dr Reddy's
Laboratories. Alchemia received its first profits from sales of
fondaparinux in August 2011.
Alchemia's pipeline of oncology products is built on the proprietary
platform technology: HyACT(R) (targeted cancer delivery), which is
used to selectively target cancer drugs to tumours. The primary
objective of the HyACT(R) technology is to develop a new generation
of anti-cancer drugs which demonstrate better efficacy. The Company
has recently announced the final recruitment for its most advance
cancer drug -- HA-Irinotecan which is in Phase III for the treatment
of metastatic colorectal cancer.
In addition, Alchemia has a platform technology, VAST(R), discovery
drug discovery platform, which is based on Alchemia's chemistry
expertise. VAST is run on a business model designed to limit use of
cash expenditure through the use of partnerships and government
grants. The company has projects running with academic institutions
and evaluation underway with big pharma partners.
For further information:
Dr Mel Bridges
Mobile/Cell: +61 4 1305 1600
Chief Executive Officer
Tel: +61 7 3340 0200
Media enquiries, Australia:
Emma Power or Rudi Michelson
+613 9620 3333
Investor Relations USA:
Blueprint Life Science Group
+1 415 375 3340 Ext. 103
Press spacebar to pause and continue. Press esc to stop.