Home» Dr John Hutchison appointed at Chief Medical Officer
Dr John Hutchison appointed at Chief Medical Officer
28th Agosto 2007
RENOVO GROUP PLC (“Renovo” or “the Company”)
APPOINTMENT OF DR JOHN HUTCHISON AS CHIEF MEDICAL OFFICER AND EXECUTIVE BOARD DIRECTOR
Renovo Group plc (LSE: RNVO), the biopharmaceutical company developing drugs for the prevention and reduction of scarring at multiple body sites, today announces that, with immediate effect, Dr John Hutchison has been appointed to the Renovo Executive team and Board as Chief Medical Officer and Dr Argeris (Jerry) Karabelas has stepped down as a Non-executive Director of the Company.
Dr John Hutchison, aged 51, joins Renovo from Vernalis plc where he held a number of Executive Director roles including Development Director and Chief Medical Officer. Dr Hutchison began his industrial career as a clinical pharmacologist with Fisons, before moving to experimental medicine with Astra Pharmaceuticals Ltd.
In addition to being a UK registered physician, Dr Hutchison has a first class Honours degree in Human Physiology and a PhD in Neuroscience from the University of Liverpool. Dr Hutchison is a Fellow of the Royal College of Physicians and a Fellow of the Faculty of Pharmaceutical Medicine in London.
Dr Argeris Karabelas was not considered to be independent of management, by virtue of Care Capital previously owning a significant equity interest in the Company. Renovo’s balance of non independent to independent Directors therefore remains the same and continues to comply with the principles and code of best practice as set out in the Combined Code on Corporate Governance (issued July 2003).
Rodger Pannone, Chairman of Renovo, said: “We are delighted to welcome John to the Company. His expertise in drug development, clinical trials, regulatory submissions and significant industry experience, which covers both biotechnology and large pharmaceutical companies, will be invaluable to Renovo. I would also like to thank Jerry for his sound advice and significant contribution to the Board, of which he has been a member since 2002. We are sorry to see him leave but understand that this is consistent with Care Capital’s investment and Board representation strategy. We wish him well for the future.”
For further information:
Renovo Professor Mark Ferguson, Chief Executive Officer +44 (0) 161 606 7222 Simon Bielecki, Head of Communications +44 (0) 161 606 7328
Buchanan Communications Tim Anderson/Lisa Baderoon/Mary-Jane Johnson +44 (0) 20 7466 5000
Renovo is a biopharmaceutical product company and is the world leader in scar prevention and reduction research and the development of drugs to prevent and reduce scarring. The Company has a highly skilled management team with over 30 years of research experience in the field of scarring and significant pharmaceutical industry expertise.
Scarring can result from acute injury in, or surgery to, the skin, blood vessels, eyes, nerves, internal organs, tendons and ligaments. These are high value markets of significant unmet medical need.
Renovo has a portfolio of drugs which exploit different novel mechanisms of action to prevent and reduce scarring at multiple body sites and to accelerate healing. Juvista®, Renovo’s lead drug for the prevention and reduction of scarring in the skin has been safely administered to over 1,500 human subjects and has reported statistical and clinical significance in four Phase 2 efficacy trials.
Renovo announced in June 2007 that it had signed an exclusive licensing agreement with Shire plc to develop and commercialise Juvista, its lead product for the prevention and reduction of scarring. The agreement covers every country in the world except the European Union, the rights to which have been retained by Renovo.
Zesteem®, Renovo’s lead drug for the acceleration of wound healing in the skin, commenced Phase 3 clinical trials in December 2006. Juvidex™ and Prevascar™, Renovo’s other two drugs in Phase 2 clinical development for the prevention and reduction of scarring, are also planned for additional indications in the prevention and reduction of scarring following injury or surgery.
According to external research, the potential commercial market for prevention and reduction of scarring in the skin is worth, in the order of, $4 billion per annum in the US alone.