Phylogica appoints new CEO

Perth-based peptide drug discovery company Phylogica (ASX:PYC) has named Dr Richard Hopkins as its new CEO, effective immediately.

Hopkins has been with Phylogica since 2006, serving in a variety of roles, most recently as chief scientific officer (CSO).

As part of a broader management restructure, Hopkins replaces Dr Paul Watt, who will retire as a director and transfer from CEO to take on the CSO role.

Hopkins is a founding shareholder and has worked with the company’s phylomer peptide screening platform, for which an Australian patent was secured earlier this year, for over 12 years. Prior to that, he held senior research roles including with the Telethon Institute for Child Health Research, Department of Medicine at the University of Western Australia and Murdoch University.

“Richard will be an excellent CEO,” said Dr Doug Wilson, Chairman of Phylogica. “He has carried the company’s contracts with clients and their R&D plans for some years and also held the role of chief operating officer where he also managed budgets. He is a gifted communicator and well accepted internationally.”

Nick Woolf will also retire as a director and step down from his role as chief financial officer at the end of September. The new CFO will be Graeme Boden, who is currently the company secretary.

Phylogica recently announced an advancement of its collaboration with Janssen Biotech to further research on the ability of candidate peptide-drug conjugates to penetrate cell membranes.

Wilson noted the company management structure had been reorganised to position it for the ongoing contractual obligations and emerging strategic opportunities. Importantly, the changes will decrease the company’s cost-base and make the company’s aspirations more achievable.

Phylogica (ASX:PYC) shares were trading steady at $0.017 at around midday on Friday.