Neurotech International appoints industry expert during key phase of growth
Health & Biotech
Health & Biotech
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Neurotech International has made key appointments and changes to its board as it focuses on its developing and commercialising neurological solutions, including a cannabis breakthrough for paediatric autism.
Biopharmaceutical Neurotech International (ASX:NTI) has appointed a seasoned executive within Australia’s life science and technology sector as a consultant and new executive director from September 1.
Founder of Nemean Group Dr Thomas Duthy has more than 18 years of direct financial market plus executive-level/board experience with ASX-listed companies and will become an investor relation (IR) and strategic corporate development consultant.
Nemean Group provides corporate advisory and investor relations services in the Life Sciences and Technology sectors.
Duthy’s experience includes an IR and corporate development consultancy role with Nova Eye Medical(ASX:EYE), during which time a $100 million all-cash sale of their lasers and ultrasound business to Lumibird Group was completed and a subsequent $61 million return made to shareholders.
Sirtex was acquired for $1.9 billion in cash by CDH Investments in September 2018 and remains the largest medical device acquisition in Australian corporate history.
Duthy is a director of Invex Therapeutics (ASX:IXC), a biopharmaceutical development company with a Phase 3 orphan drug program.
The NTI board has committed to appoint Duthy as an executive director, to assist the company in this capacity effective 1 September 2022.
Non-executive director Mark Davies, has been appointed as chairman of the NTI board.
Current non-executive directors Professor Allan Cripps will be appointed as director of science and innovation and Gerald Quigley will become director of public relations.
NTI, which focuses on development and commercialisation of neurological solutions to improve quality of life, intends to seek approval for a grant of options to Duthy, Cripps and Quigley.
The appointments come at an exciting time for NTI, which has released promising results from a phase I/II clinical study of its proprietary NTI164 cannabis strain in paediatric Autism Spectrum Disorder (ASD).
Results included 93% of patients showing symptom improvement after 28 days of daily treatment with NTI164.
Neurotech is also commercialising Mente, clinically proven to increase engagement and improve relaxation in autistic children with elevated delta band brain activity.
This article was developed in collaboration with Neurotech International, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.