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Immuron Ltd — Board/Management Information 2015
May 20, 2015
35121_rns_2015-05-20_d26644a4-250b-4c20-8a9d-ad78b226b070.pdf
Board/Management Information
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Immuron Appoints New Director - Mr Peter Anastasiou
21 May 2015, Melbourne, Australia: Australian biopharmaceutical company Immuron Limited (ASX: IMC), is pleased to announce the appointment of Mr Peter Anastasiou to serve as a Director of the Company.
Mr Anastasiou is a serial entrepreneur and investor with extensive experience in business both in Australia and overseas. Over the past 25 years, he has been credited with rebuilding a number of companies through the implementation of various corporate restructurings, acquisitions and solid financial management practices, with his most recent success being managing the restructuring of SABCO to ensure the future of this 100 year old iconic Australian company.
Mr Anastasiou’s involvement with Immuron commenced in May 2013 following his substantial underwriting support of the Company’s Renounceable Rights Issue, which was surpassed by his further funding support of the $9.66M (before costs) capital raising in February 2014 resulting in an ownership of approx. 15% of the Company via his associated investment funds.
Immuron Chairman Dr Roger Aston welcomed Mr Anastasiou’s appointment to the Board saying;
“Mr Anastasiou’s extensive business experience, particularly in the areas of consumer products, investment, and company structuring, will add an extra dynamic to the Board as the Company continues to increases the market penetration of its flagship product Travelan®, and considers interest from potential partners surrounding the Company’s other products under development, specifically the Company’s products for NASH and ASH.”
“Mr Anastasiou’s has added considerable value to Immuron through instigating negotiations to bring Travelan back into a direct distribution model and significantly improving the commercial elements of our Technology agreement with Hadassah allowing our current investment in the NASH trial to proceed.”
Mr Anastasiou was the founding Chairman of the ACSI Group of Companies, which has owned and managed successful consumer companies such as SABCO, Britex Carpet care, Rug Doctor and Crystal Clear.
Mr Anastasiou also has a number of philanthropic interests including being a patron of the Identity Theatre for men, a prior board member and supporter of the Indigenous Eye Health Unit at Melbourne University, a supporter of the John Fawcett Foundation in Bali, and a founding investor and Director of Melbourne Victory Football Club.
For and on behalf of the Board;
Peter Vaughan Company Secretary
Suite 1, 1233 High Street www.immuron.com Armadale, Victoria AUSTRALIA 3143 ABN: 80 063 114 045
Phone: + 61 (0)3 9824 5254 Facsimile: + 61 (0)3 9822 7735
ABN: 80 063 114 045
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ABOUT IMMURON
Immuron Ltd (ASX:IMC) is a biopharmaceutical company focused on developing and commercialising oral immunotherapies based on its hyperimmune colostrum technology for the treatment of intestinal and liver diseases. The company currently markets Travelan® for the prevention of travellers’ diarrhoea, its lead product candidate IMM-124E is in Phase 2 clinical trials for NASH and ASH, and it has a preclinical immunotherapy pipeline targeting immune-related diseases with unmet needs. Immuron’s main scientific alliances are with Hadassah Medical Center (Israel) and Monash University (Australia).
ABOUT TRAVELAN®
Travelan® is a hyperimmune colostrum product that has been clinically-proven to prevent travellers’ diarrhoea. Travelan® is a natural product derived from bovine colostrum enriched with antibodies reactive to ETEC, the most common cause of travellers' diarrhoea. In clinical trials, Travelan® showed up to 90% efficacy in protecting against infection with the type of E. coli that causes travellers' diarrhoea. In addition, trials showed a significant reduction in abdominal cramps and stomach pain compared to those who did not receive Travelan®. Travelan® is also enriched with antibodies against lipopolysaccharides (LPS), which are bacteria-borne endotoxins that drive systemic chronic inflammation. In the USA. Travelan® is sold as a Colostrum Dietary Supplement that is clinically shown to maintain digestive health.
About IMM-124E and NASH
Non-Alcoholic Steatohepatitis (NASH) refers to a spectrum of conditions of the liver all of which involve chronic inflammation of the liver and is highly correlated with obesity, diabetes and high cholesterol. If left untreated NASH may lead over time to fibrosis and then cirrhosis of the liver and severe liver dysfunction. NASH is increasingly a cause of liver cancer and the need for a liver transplant. Immuron’s Phase II trial for IMM-124E is well positioned to leverage this large and growing market with currently no available drug available on the market.
About IMM-124E and ASH
Alcoholic Steatohepatitis (ASH) refers to inflamed fatty liver disease caused by excessive alcohol consumption. Immuron is funded by the US National Institutes of Health (NIH) for the development of its IMM-124E Phase II trial for ASH. Notably, the NIH has chosen to fund IMM-124E as one of three potential treatments for ASH chosen from 27 potential treatments.
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