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CADOUX LIMITED — Board/Management Information 2007
Dec 19, 2007
64620_rns_2007-12-19_0e07954b-6486-45a0-9c41-ffd553a22cb5.pdf
Board/Management Information
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CHAIRMAN’S RESIGNATION
Summary
• Mr. Anthony Kiernan resigns as Solbec’s Chairman and from the Board of Directors
Perth, Australia. 20 December 2007 : The board of Solbec Pharmaceuticals Ltd (ASX: SBP) advise that Mr Anthony Kiernan has today announced his retirement as Chairman and from the board of the Company. Mr Kiernan has been a Director of the Company since March 2003.
Mr Kiernan is stepping down to pursue other business opportunities and the board wishes to thank him for his sound leadership and valuable contribution to the development of the Company and wishes him well in his future endeavours.
Solbec has commenced the process of identification and selection of a new replacement Chairman. In the meantime Mr Russell Barnett will act as interim Chairman. Mr. Barnett has over 15 years experience in technology commercialization, innovation management, new venture creation and venture capital markets with a wide range of organizations throughout the Asia Pacific region. Mr. Barnett holds a number of other directorships including Chairman of Kirke Securities Limited and non-executive director of Rewire Therapies Limited.
Solbec will continue to progress the Coramsine[®] project and to focus on building additional pipeline.
Accompanying this release is an Appendix 3Z setting out Mr Kiernan’s Final Director’s Interest Notice.
Again, the board would like to take this opportunity to formally thank Mr Kiernan for the stewardship and dedication he has shown throughout his time with Solbec, both a Director and Chairman.
- End -
Further Information:
David Sparling General Manager Tel: (08) 9446 7555 Mob: 0417 721 972 Email: [email protected]
Russell Barnett Chairman Tel: (08) 9446 7555 Mob: 0438 710 917
Appendix3ZKiernanResignation20.12.07
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About Solbec
Solbec Pharmaceuticals Ltd identifies naturally-occurring compounds with potential in the development of better therapies for debilitating conditions and life-threatening diseases. With the assistance of a $2.26M Australian Government Commercial Ready grant the company is currently progressing its key project, Coramsine[®] for the treatment of advanced solid tumours. The two proprietary ingredients of Coramsine[®] were isolated from the fruit of the Devil’s Apple ( Solanum linnaeanum ). They show activity against some cancers and cause potentially therapeutic changes to the immune system. In addition to human health, Coramsine[®] has potential application to animal health and diagnostics. Solbec’s business strategy is to partner or out-license Coramsine[®] for the final stages of pre-commercial development and marketing.
Appendix3ZKiernanResignation20.12.07
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