- Actinogen Medical (ACW) has appointed Dr Steven Gourlay as its new Chief Executive Officer, effective today
- The position comes with an annual base salary of $400,000 and short-term incentives of up to 35 per cent
- Dr Gourlay comes with more than 30 years’ experience in the development of novel therapeutics, formally holding the position of founding Chief Medical Officer at U.S.-based Principia Biopharma
- Dr Gourlay will succeed Dr Bill Ketelbey, who held the role of CEO and Managing Director at Actinogen for six years
- Gourlay will help Actinogen further develop its lead compound, Xanamem
- Actinogen is up 4 per cent, trading at 2.6 cents
Actinogen Medical Limited (ACW) has appointed Dr Steven Gourlay as its new Chief Executive Officer, effective today.
The position comes with an annual base salary of $400,000, including superannuation, and a short-term incentive of up to 35 per cent, subject to satisfying performance objectives.
Steven may also get the opportunity to participate in the company’s employee share plan.
Dr Gourlay comes with more than 30 years’ experience in the development of novel therapeutics. Formerly the founding Chief Medical Officer at U.S.-based Principia Biopharma, Dr Gourlay was responsible for supervising multiple pre-clinical, first-in-human, phase two and three clinical trial programs for four small molecules in orphan immunological diseases, multiple sclerosis and cancer.
The data from these trials supported a successful NASDAQ IPO of Principia Biopharma in 2018, which went on to be acquired by Sanofi for US$3.7 billion (around A$4.7 billion) in 2020.
The new CEO has also had significant drug regulatory experience with the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA).
“Actinogen is delighted to have secured Steven Gourlay as its new CEO,” said Actinogen Chair, Dr Geoff Brooke.
“His significant global experience in drug development, regulatory affairs and commercial activities are all directly relevant to Actinogen today. His hands-on capabilities will ensure our upcoming clinical trials are executed in a timely manner, in parallel with our commercialisation activities.”
Dr Gourlay has been acting as a consultant Chief Marketing Officer to Actinogen since December 2020 and has been actively involved in the review of the full dataset on Actinogen’s lead compound, Xanamem.
As part of a placement completed in February, Dr Gourlay purchased 15 million ACW shares at $0.022 each.
Dr Gourlay will succeed Dr Bill Ketelbey, who held the role of CEO and Managing Director for six years.
“Bill has guided the Company through pre-clinical and clinical trials, developing a significant dataset on Xanamem, as well as fostering important commercial and regulatory discussions," said Geoff Brooke.
"His long-term commitment to developing a new treatment for Alzheimer’s disease and improving the lives of patients with cognitive impairment forms a key part of the Company’s clinical program going forward."
Actinogen is up 4 per cent, trading at 2.6 cents at 10:35 am AEDT.