Vince Ippolito appointed as Botanix Executive Chairman
Key highlights
- Mr Vince Ippolito, a US-based dermatology industry leader with over 30 years of pharmaceuticals experience, appointed as Executive Chairman of Botanix Pharmaceuticals
- Dr Stewart Washer will maintain his position on the Board as a Non-Executive Director
Philadelphia PA and Sydney Australia, 18 July 2019: Medical dermatology company Botanix Pharmaceuticals Limited (ASX:BOT, “Botanix” or the “Company”) is pleased to announce the appointment of Mr Vince Ippolito, as President and Executive Chairman of the Botanix Board.
Founder and Executive Director of Botanix, Matt Callahan, said: “On behalf of the Board and management team, I would like to formally welcome Vince as Executive Chairman. We are fortunate to have Vince join the Botanix Board, his contribution since joining the team recently has been invaluable. With proven commercial acumen and deep expertise in the US dermatology markets, Vince will complement the skills of our existing directors and management team. I would also like to take this opportunity to thank Dr Stewart Washer for his service as interim Non-Executive Chairman.”
On 20 May 2019, Mr Ippolito joined as President of Botanix and it was proposed that he would be appointed as Executive Chairman of the Botanix Board, subject to shareholder approval of certain remuneration related matters. Shareholders provided these approvals at the Botanix General Meeting held today.
Executive Chairman of Botanix, Vince Ippolito, said: “I am honoured to join the Botanix Board. Botanix is uniquely positioned with one of the most advanced cannabinoid pipelines globally. I am looking forward to leading the Botanix Board and remain focused on executing the Company’s development strategy and delivering shareholder value.”
Details of Mr Ippolito’s remuneration arrangements are detailed in the ASX announcement made on 20 May 2019 and in the notice of general meeting lodged with ASX on 17 June 2019.
Dr Stewart Washer will step down from interim Non-Executive Chairman and maintain his position on the Botanix Board as a Non-Executive Director.
About Botanix Pharmaceuticals
Botanix Pharmaceuticals Limited (ASX:BOT) is a clinical stage cannabinoid company based in Perth (Australia) and Philadelphia (USA) committed to the development of pharmaceutical products that are underpinned by science and supported by well-controlled randomised clinical trials. The Company’s focus is the development of safe and effective topical treatments for acne, psoriasis, atopic dermatitis and other skin conditions, together with a development platform of antimicrobial drug candidates. The active ingredient contained in Botanix products is a synthetic form of cannabidiol. Treatment targets for skin diseases include inflammation, deterioration of the of the skin barrier, skin cell proliferation, pruritus (itch), excess sebum production and bacterial infection.
Botanix has an exclusive license to use a proprietary drug delivery system (PermetrexTM) for direct skin delivery of active pharmaceuticals in all skin diseases. Botanix is working with multiple parties to test the application of PermetrexTM on both a fee-for-service and traditional license basis. Botanix pursues a rapid clinical development strategy aimed at accelerating product commercialisation.
The Company completed its first acne patient studies with BTX 1503 in January 2018 and has commenced a Phase 2 clinical study in June 2018 with study completion expected in 3Q CY2019. The BTX 1204 atopic dermatitis Phase 2 patient study is also underway with study completion expected in 4Q CY2019. A mechanism of action study for Phase 1b BTX 1308 (psoriasis) has recently completed, with positive interim data announced in June 2019. Development of a pipeline of product candidates that leverages the antimicrobial properties of cannabidiol are also moving forward and first products are planned to enter the clinic in 2H CY2019.
To learn more please visit: https://www.botanixpharma.com/
For more information, please contact:
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General enquiries Matt Callahan Botanix Pharmaceuticals Founder & Executive Director +1 215 767 4184 |
Investor enquiries Joel Seah Vesparum Capital P: +61 3 8582 4800 |
Media enquiries Haley Chartres Hales2 Communications P: +61 423 139 163 |