Opthea Appoints Kathy Connell to Board of Directors
Opthea (ASX/NASDAQ: OPT) announced the appointment of Kathy Connell as Non-Executive Director to its Board, effective November 15, 2024. Connell brings extensive commercial and business development expertise across healthcare industries. The appointment comes as Opthea prepares for Phase 3 wet AMD topline data expected in 2025. Simultaneously, Megan Baldwin retired from the Board as Executive Director but will continue as Founder and Chief Innovation Officer. Connell currently serves as Senior Client Partner at Korn Ferry and holds board positions at Avecho Biotechnology, Proto Axiom, and BioNSW.
Opthea (ASX/NASDAQ: OPT) ha annunciato la nomina di Kathy Connell come Direttore Non Esecutivo del Consiglio, con effetto dal 15 novembre 2024. Connell porta con sé una vasta esperienza commerciale e nello sviluppo del business nei settori della salute. Questa nomina arriva mentre Opthea si prepara per i dati preliminari della Fase 3 sull'AMD umida, previsti per il 2025. Contestualmente, Megan Baldwin si è ritirata dal Consiglio come Direttore Esecutivo, ma continuerà il suo ruolo come Fondatrice e Chief Innovation Officer. Attualmente, Connell è Senior Client Partner presso Korn Ferry e ricopre posizioni nei consigli di amministrazione di Avecho Biotechnology, Proto Axiom e BioNSW.
Opthea (ASX/NASDAQ: OPT) anunció el nombramiento de Kathy Connell como Directora No Ejecutiva de su Junta, con efecto a partir del 15 de noviembre de 2024. Connell aporta una amplia experiencia comercial y en desarrollo de negocios en las industrias de la salud. Este nombramiento se produce mientras Opthea se prepara para los datos iniciales de la Fase 3 sobre AMD húmedo, que se esperan en 2025. Al mismo tiempo, Megan Baldwin se retiró de la Junta como Directora Ejecutiva, pero continuará como Fundadora y Directora de Innovación. Actualmente, Connell es Socio Senior de Clientes en Korn Ferry y ocupa cargos en las juntas de Avecho Biotechnology, Proto Axiom y BioNSW.
옵세아 (ASX/NASDAQ: OPT)는 캐시 코넬을 비상임 이사로 이사회에 임명했다고 발표했습니다. 이 임명은 2024년 11월 15일부터 시행됩니다. 코넬은 의료 산업 전반에 걸쳐 광범위한 상업 및 사업 개발 전문 지식을 보유하고 있습니다. 이 임명은 옵세아가 2025년에 예상되는 3상 습성 AMD 주요 데이터에 대비하는 가운데 이루어졌습니다. 동시에 메건 발드윈은 집행 이사로서 이사회에서 퇴임하였으나, 여전히 설립자 및 최고 혁신 책임자로 계속 활동할 것입니다. 코넬은 현재 콜른 페리에서 수석 고객 파트너로 근무하며, 아베코 생명공학, 프로토 악시엄, 바이오NSW의 이사직을 맡고 있습니다.
Opthea (ASX/NASDAQ: OPT) a annoncé la nomination de Kathy Connell en tant que Administratrice Non-Exécutive de son Conseil, avec effet à partir du 15 novembre 2024. Connell apporte une vaste expertise commerciale et de développement des affaires dans les industries de la santé. Cette nomination intervient alors qu'Opthea se prépare à des données préliminaires de la phase 3 sur la DMLA humide, prévues pour 2025. En même temps, Megan Baldwin a pris sa retraite du Conseil en tant que Directrice Exécutive, mais continuera en tant que Fondatrice et Directrice de l'Innovation. Connell occupe actuellement le poste de Senior Client Partner chez Korn Ferry et est membre des conseils d'administration d'Avecho Biotechnology, Proto Axiom, et BioNSW.
Opthea (ASX/NASDAQ: OPT) gab die Ernennung von Kathy Connell als nicht-executive Direktorin des Vorstands bekannt, die am 15. November 2024 in Kraft tritt. Connell bringt umfassende kommerzielle und geschäftliche Entwicklungskompetenz in den Gesundheitssektoren mit. Diese Ernennung erfolgt, während sich Opthea auf die Phase 3 Hauptdaten zu feuchter AMD vorbereitet, die für 2025 erwartet werden. Gleichzeitig hat Megan Baldwin den Vorstand als executive Director verlassen, wird jedoch weiterhin als Gründerin und Chief Innovation Officer tätig sein. Connell ist derzeit Senior Client Partner bei Korn Ferry und hat Mitgliedschaften in den Vorständen von Avecho Biotechnology, Proto Axiom und BioNSW.
- Strategic timing of board appointment ahead of important Phase 3 topline data readout in 2025
- Addition of experienced commercial executive with global healthcare industry expertise
- Retention of Megan Baldwin as Chief Innovation Officer maintaining continuity in innovation strategy
- None.
Ms. Connell is a commercial executive with business development expertise
Appointment takes place as Opthea prepares for Phase 3 wet AMD topline data in 2025
MELBOURNE, Australia, and PRINCETON, N.J., Nov. 15, 2024 (GLOBE NEWSWIRE) -- Opthea Limited (ASX/NASDAQ: OPT, “Opthea”, the “Company”), a clinical-stage biopharmaceutical company developing novel therapies to treat highly prevalent and progressive retinal diseases, including wet age-related macular degeneration (wet AMD), today announced the appointment of Kathy Connell, GAICD, to the Board of Directors (the “Board”) as a Non-Executive Director. Ms. Connell’s appointment was effective immediately after the Annual General Meeting of the Company on November 15, 2024.
Ms. Connell is a commercial executive with deep business development expertise across pharmaceutical, vaccine, medtech, consumer and digital health industries. Her track record of translating global commercial strategies into impactful business results and shareholder value will be instrumental as Opthea prepares for the topline data readout of its pivotal program of sozinibercept in wet AMD. Ms. Connell is currently Senior Client Partner and Head of Healthcare and Life Sciences Australia/New Zealand at Korn Ferry. She also serves as Non-Executive Director at Avecho Biotechnology Ltd (ASX: AVE), Proto Axiom (a biotech investment company with an incubation arm) and BioNSW (life sciences association for NSW, Australia).
“We are pleased to welcome Kathy Connell to Opthea’s Board of Directors. Her wealth of experience in driving strategic growth and business success in the global healthcare industry will be an invaluable asset as the Company prepares for the sozinibercept Phase 3 data readout and subsequent regulatory and commercial milestones. We believe sozinibercept could represent a medical breakthrough for the treatment of wet AMD,” said Jeremy Levin, D.Phil, MB BChir, Chairman of the Board of Opthea.
“Opthea’s innovative approach to delivering superior visual outcomes for patients with blinding eye diseases has the potential to bring life-changing vision improvements to individuals with wet AMD around the world,” said Kathy Connell. “I am honored to join the Opthea team and be part of this journey. I’m excited to work with Opthea’s Board of Directors and the Executive Team to help drive the Company’s success as we enter this promising new phase of growth.”
The Company also notes that Megan Baldwin, PhD, MAICD, retired from the Board as Executive Director, in accordance with ASX Listing Rules. Dr. Baldwin will continue to advance Opthea’s innovation agenda in her executive role as Founder and Chief Innovation Officer (CIO) of the Company.
“On behalf of Opthea organization, I want to thank Dr. Baldwin for her many years of dedicated Board service and express my gratitude for her continued, active engagement as Opthea’s Founder and CIO,” Dr. Levin concluded.
About Opthea
Opthea (ASX/NASDAQ:OPT) is a biopharmaceutical company developing novel therapies to address the unmet needs in the treatment of highly prevalent and progressive retinal diseases, including wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME).
Opthea’s lead product candidate, sozinibercept, is being evaluated in two fully enrolled pivotal Phase 3 clinical trials (COAST, NCT04757636, and ShORe, NCT04757610) for use in combination with standard-of-care anti-VEGF-A therapies to improve overall efficacy and deliver superior vision gains compared to standard-of-care anti-VEGF-A agents alone.
To learn more, visit our website at www.opthea.com and follow us on X and LinkedIn.
Inherent risks of Investment in Biotechnology Companies
There are a number of inherent risks associated with the development of pharmaceutical products to a marketable stage. The lengthy clinical trial process is designed to assess the safety and efficacy of a drug prior to commercialization and a significant proportion of drugs fail one or both of these criteria. Other risks include uncertainty of patent protection and proprietary rights, whether patent applications and issued patents will offer adequate protection to enable product development, the obtaining of necessary drug regulatory authority approvals and difficulties caused by the rapid advancements in technology. Companies such as Opthea are dependent on the success of their research and development projects and on the ability to attract funding to support these activities. Investment in research and development projects cannot be assessed on the same fundamentals as trading and manufacturing enterprises. Therefore, investment in companies specializing in drug development must be regarded as highly speculative. Opthea strongly recommends that professional investment advice be sought prior to such investments.
Forward-Looking Statements
This announcement contains certain forward-looking statements, including within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The words “expect”, “believe”, “should”, “could”, “may”, “will”, “plan” and other similar expressions are intended to identify forward-looking statements. Forward-looking statements in this announcement include statements regarding the anticipated sozinibercept topline data timing for the two Phase 3 pivotal trials in wet AMD, the potential for sozinibercept to achieve anticipated results for patients, and the Company’s continued efforts to advance its Biological License Application (BLA) preparations for FDA approval and prepare for commercial readiness. Forward-looking statements, opinions and estimates provided in this announcement are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current conditions. Forward-looking statements are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. They involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of Opthea and its directors and management and may involve significant elements of subjective judgment and assumptions as to future events that may or may not be correct. These statements may be affected by a range of variables which could cause actual results or trends to differ materially, including but not limited to future capital requirements, the development, testing, production, marketing and sale of drug treatments, regulatory risk and potential loss of regulatory approvals, ongoing clinical studies to demonstrate sozinibercept’s potential safety, tolerability and therapeutic efficacy, clinical research organization and labor costs, intellectual property protections, and other factors that are of a general nature which may affect the future operating and financial performance of the Company including risk factors set forth in Opthea’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 30, 2024 and other future filings with the SEC. Actual results, performance or achievement may vary materially from any projections and forward-looking statements and the assumptions on which those statements are based. Subject to any continuing obligations under applicable law or any relevant ASX listing rules, Opthea disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statements in this announcement to reflect any change in expectations in relation to any forward-looking statements or any change in events, conditions or circumstances on which any such statement is based, except as otherwise required by applicable law.
Authorized for release to ASX by Frederic Guerard, PharmD, Chief Executive Officer
Investor Inquiries
PJ Kelleher
LifeSci Advisors, LLC
Email: pkelleher@lifesciadvisors.com
Phone: 617-430-7579
Media Inquiries
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NorthStream Global Partners
Email: silvana@nsgpllc.com
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Source: Opthea Limited
FAQ
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