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- Cynata Therapeutics (CYP) appoints Dr Kilian Kelly as its CEO and Managing Director, effective July 1
- Dr Kelly has held the role of CYP Chief Operating Officer since May 2019 and has been “instrumental” in advancing the company’s clinical pipeline since first joining Cynata as Vice President, Product Development in 2014
- The announcement follows the retirement of Dr Ross Macdonald
- Additionally, Dr David Atkins will join Cynata’s board, while Dr Stewart Washer will step down from his position as a non-executive director
- Cynata Therapeutics is down four per cent and trading at 12 cents at 3:14 pm AEST
Clinical-stage biotech company Cynata Therapeutics (CYP) has appointed Dr Kilian Kelly as its CEO and Managing Director, effective from July 1.
Dr Kelly has held the role of Cynata’s Chief Operating Officer since May 2019, and has been “instrumental” in advancing the company’s clinical pipeline since first joining Cynata as Vice President, Product Development in 2014.
Cynata Chairman Dr Geoff Brooke said the appointment of Kilian as Managing Director and CEO reflects the “exciting growth and maturation” of Cynata and comes at a crucial time.
“Kilian joined the company in 2014 and since then has demonstrated an extraordinary capability in swiftly progressing its ground-breaking cell therapy products from the laboratory to clinical trials,” Geoff Brooke said.
“He expertly navigated a complex regulatory, manufacturing and clinical pathway, leading to a highly successful clinical trial in this disease.”
The appointment comes with a $400,000 annual salary and short-term incentives worth up to 30 per cent of the total fixed remuneration.
The announcement follows the retirement of Dr Ross Macdonald.
Additionally, Dr David Atkins will join Cynata’s board of directors. He is the Managing Partner of international healthcare investment firm BioSicence Managers, a major shareholder of Cynata.
“Dr Atkins’ 30 years of international experience in product development and commercialisation across biotech, pharma and medical devices brings substantial life sciences and financial expertise to the Cynata Board, strengthening its capabilities,” Geoff Brooke said.
Cynata has agreed to grant 300,000 options to Dr Atkins for his work. Each option entitles the holder to subscribe for one fully paid ordinary Cynata share at an exercise price of 17.6 cents, a 45 per cent premium to the volume weighted average price (VWAP).
The options will be for a term of five years and will vest in equal monthly tranches over the first three years of Dr Atkins’ term as director.
Dr Stewart Washer will step down from his position as a Non-Executive Director.
CYP was down four per cent, trading at 12 cents at 3:14 pm AEST.
