Brisbane, Australia, 28 May 2008: Xenome Limited (Xenome) today announced the appointment of Mr Adam Day as Chief Financial Officer, effective 26 May 2008. Mr Day is a key addition to Xenome’s executive management team, which has been restructured over the last 6 months in preparation for upcoming corporate transactions.
Mr Day has 13 years of senior level management experience in significant financial roles. Prior to joining Xenome, he served as the General Manager at Riverside Marine Group where he was responsible for coordinating and managing the financial, legal, human resource, insurance and statutory requirement functions for the company. Previous to this he held the position of Financial Controller / Company Secretary at UniQuest Limited.
Xenome is a biopharmaceutical company developing peptide drugs in the fields of pain and inflammation. Pain is a large and unmet market and considered an area of increasing focus as a result of an aging population and increased prevalence of age-related disease. Xen2174 is Xenome’s lead drug under development for treatment of severe chronic and acute pain.
Xenome CEO Dr Ian Nisbet said: “Xenome is entering an exciting period in its corporate life. We are exploring a range of options for fulfilling our ongoing capital requirements and Adam’s appointment is an important component of our capital strategy. A strong financial position is critical to underpin our program to develop and commercialise drugs that will have a significant impact on the quality of life of people suffering from intractable pain.”
Mr Day holds a Bachelor of Business, Master of Business Administration, Graduate Diploma of Management and is a full member of CPA Australia.
Xenome is a biotechnology company that is focused on the discovery and development of peptide-based therapeutics. The Company's lead product, Xen2174, is a novel conopeptide analogue for the treatment of severe pain. Enrolment into an international phase I/II clinical trial in patients with cancer pain was recently completed and a phase II study in post-operative pain is due to commence in 2008.
Xenome's discovery platform is based on a proprietary library of venom peptides. Late in 2007 Xenome and Amylin Pharmaceuticals entered into a partnership to screen Xenome's library for new drug candidates against metabolic disease targets. Both Xen2174 and the Amylin partnership leverage off Xenome's unique expertise in peptide chemistry and its ability to translate the evolutionary advantages inherent in venom peptides into highly bioactive, drug-like molecules.
Dr Ian Nisbet
Chief Executive Officer
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