Source: Race Oncology
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  • Dr Daniel Tillett steps into the role of CEO at Race Oncology (ASX:RAC), bringing with him more than 25 years of biotech experience
  • He will work with RAC Executive Director Dr Pete Smith to advance the company’s strategic, clinical, and commercialization plans for bisantrene
  • The leadership shuffle aims to optimise focus on clinical strategy, business development, and institutional outreach
  • RAC last traded at 95.5 cents

Race Oncology (ASX:RAC) has appointed Dr Daniel Tillett as its newest Chief Executive Officer, effective immediately.

Dr Tillett previously served as the company’s Chief Scientific Officer and Executive Director from September 2019 to March 2023 and brings a wealth of experience to his new role, having spent more than 25 years in the biotechnology industry.

The company announced he would work closely with RAC Executive Director Dr Pete Smith to spearhead the company’s strategic, clinical, and commercialisation efforts for bisantrene. Bisantrene is a key focus of the company’s clinical plan.

“Today’s announcement reflects our commitment to rebalancing the leadership team to ensure we are best positioned to deliver on our primary focus of advancing bisantrene through the clinic,” RAC Independent Non-Executive Chair Mary Harney said.

In a move demonstrating his commitment to the company’s success, Dr Tillett has requested that half of his salary be paid in cash, with the remaining 50 per cent provided as options at an exercise price of $4.25, above the all-time high share price.

“My priority in stepping in as CEO is to ensure the clinical strategy we have for bisantrene is implemented and our promise to shareholders delivered,” Dr Tillett said.

RAC last traded at 95.5 cents.

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