- NeuroScientific Biopharmaceuticals (NSB) appoints Paul Rennie as interim CEO, nearly three months after former CEO Matt Liddelow resigned
- Paul Rennie is currently NSB’s Chair and will remain in both positions, but take more of an “active role” in management while the company searches for a permanent CEO
- Paul Rennie is also Chair and incoming Managing Director of ASX-listed Paradigm Pharmaceuticals (PAR) and will serve his roles with both companies concurrently
- NSB shared were up 12.5 per cent, trading at 11.3 cents at 12:49 pm AEDT
NeuroScientific Biopharmaceuticals (NSB) has appointed Paul Rennie as interim CEO, nearly three months after the company’s former CEO and Managing Director resigned.
Matt Liddelow stepped down from the top job in early September, after NSB’s phase one clinical trial for EmtinB was rejected by the Human Research Ethics Committee (HREC), citing a lack of supporting documentation.
Incoming interim CEO, Paul Rennie, is currently NSB’s Chair and will remain in the both positions, but take more more of an “active role” in management while the company continues its global search for a permanent CEO.
In addition to his roles at NSB, Mr Rennie is founder and the current Chair ASX-listed Paradigm Pharmaceuticals (PAR), where he’ll soon be appointed to Managing Director.
Paradigm has a market cap of $441.7 million – nearly 30 times the size of NSB’s $14.3 million.
Mr Rennie will serve his roles at both companies at the same time.
“I’m very excited about the potential for EmtinBTM to become a drug therapy for neurodegenerative conditions such as Alzheimer’s and Multiple Sclerosis diseases with very large and largely unmet addressable markets,” interim CEO Paul Rennie said.
“I’m confident that we are capable of successfully addressing the issues required to advance EmtinBTM towards clinical trials and I am honoured and excited to step into the role of interim CEO and work with our management team to ensure that NSB and EmtinB is successful for shareholders.”
NSB shares were up 12.5 per cent, trading at 11.3 cents at 12:49 pm AEDT.