Destiny Pharma announces appointment of new CEO

Destiny Pharma announces appointment of new CEO

 Neil Clark brings extensive leadership experience in clinical stage biopharmaceutical companies, as the Company plans Phase IIb trial for lead asset in potentially blockbuster indication

 Dr Bill Love, Destiny’s founder, to become Chief Scientific Officer

 

Brighton, United Kingdom – 13 April, 2017 – Destiny Pharma, a clinical stage biotech company focused on the development of new anti-microbial drugs, is pleased to announce the appointment of Neil Clark as Chief Executive Officer (CEO) and member of the Board of Directors, effective immediately. Concurrently, Destiny’s scientific founder and previous CEO, Dr Bill Love, has been appointed to Chief Scientific Officer (CSO).

Sir Nigel Rudd, Non-Executive Chairman of Destiny Pharma, commented:

I am delighted to welcome Neil Clark as Chief Executive Officer of the Company. Destiny has made significant progress in the last two years, concluding in 2016 with very encouraging results from a National Institute of Health-sponsored proof-of-concept clinical study with XF-73, the lead drug from our XF drug platform. As we move forward, Neil’s extensive leadership experience in clinical stage biopharmaceutical companies will be invaluable as Destiny starts planning its first Phase IIb clinical trial. In this trial, the Company will be investigating XF-73 as a potential first-in-class drug for the prevention of post-surgical infections from all strains of Staphylococcus aureus, which we believe is a blockbuster opportunity.

“Bill Love, the founder of the Company, will continue his scientific leadership of Destiny in the newly created role of Chief Scientific Officer. As a recognised thought leader in combating the global issue of anti-microbial resistance, he will continue to focus on developing the XF platform and earlier stage projects, as the Company seeks to expand and further strengthen its already robust intellectual property position.”

On his appointment, Mr Clark added:

I am delighted to be joining the team at Destiny at an exciting time. The resistance to antibiotics is becoming a global issue that needs to be addressed and I believe Destiny has a significant part to play. The Company has a clear focus on developing effective anti-infective drugs with low/no resistance profiles and has a potentially valuable lead asset ready to enter Phase IIb clinical development.

Neil Clark joins Destiny from Ergomed plc, a company dedicated to the provision of specialised services to the pharmaceutical industry and the development of new drugs. Neil Clark joined Ergomed as Chief Financial Officer (CFO) in January 2009 and was CFO at its initial public offering in July 2014 until his move to be full time CEO of Ergomed’s PrimeVigilance business in January 2016. Prior to Ergomed, he was at CeNeS Pharmaceuticals plc, a company focused on developing drugs for central nervous system disorders and pain control, as CFO and subsequently CEO until its sale in 2008. Neil has spent 20 years in private and public life science companies and has a range of international experience in drug research and development, as well as licensing and partnering. 

For further information, please visit www.destinypharma.com or contact:

Destiny Pharma Ltd

pressoffice@destinypharma.com

FTI Consulting

Simon Conway / Victoria Foster Mitchell / Hanna Skeppner

destinypharma@fticonsulting.com

+44 (0) 2037 271000

About Destiny Pharma Ltd

Destiny Pharma is a clinical stage biotechnology company focused on the development of novel anti-infective drugs to combat antibiotic-resistant bacteria, addressing a growing global unmet clinical need. Destiny’s patented XF drug platform represents a new approach to treat infectious disease, based on a novel molecular structure and a unique mechanism of action. XF drugs, unlike conventional antibiotics, are able to kill bacteria in any growth phase ultra-rapidly, with lower potential for the emergence of drug resistance.

The Company has completed five successful Phase I/IIa clinical trials with its lead drug, XF-73 (exeporfinium chloride). XF-73 has been awarded Qualifying Infectious Disease Product (QIDP) status and is being initially developed for the prevention of post-surgical staphylococcal infections, a potentially blockbuster indication of high unmet medical need. Destiny’s XF drug platform is being developed to prevent and treat existing and emerging “superbug” infections with a broad range of application in both primary and secondary healthcare settings.