Phosphagenics names new board

Phosphagenics (ASX:POH) has appointed three new board members to replace four retiring directors.

The company has announced the appointment of biotech industry veterans Laurence Gozlan, Nathan Drona and Dr Geert Cauwenbergh as non-executive directors.

Gozlan will also take on the role of chairman on an interim basis. He is CIO and founder of life science investment fund Scientia Capital, and has a career as a fund manager and analyst in the Australian biotech sector spanning a decade. He was last year appointed to the board of AusBiotech.

Drona is an international investment banking specialist. He was appointed non-executive director of Alchemia (ASX:ACL) in March 2013.

Dr Cauwenbergh is president and CEO of Rxi Pharmaceuticals and was founder of skin disease drug developer Barrier Therapeutics, which was acquired by Stiefel Laboratories in 2008.

Phosphagenics’ current board now consists of the three new appointees and CEO Harry Rosen. Announcing the appointments, Rosen said the new directors’ commercialisation experience will be “invaluable” as the company prepares to commercialise its lead oxymorphone pain patch product.

Former board members Stuart James, Dr Sandra Webb, Don Clarke and Jonathan Addison have all retired from the board.

Phosphagenics (ASX:POH) shares were trading 10% lower at $0.099 as of around 1.30 pm on Monday.