Biotech Noxopharm appoints new CEO as Graham Kelly steps down

Noxopharm, which is developing a range of cancer treatments, has appointed Gisela Mautner to replace Graham Kelly as chief executive as it completes final product trials.

Outgoing Noxopharm CEO Graham Kelly, above, will remain on the board.

Microcap biotech Noxopharm, which is developing a range of cancer treatments, has appointed its top medical figure, Gisela Mautner, as chief executive as it transitions from an early-stage firm and completes final trials of its products.

Dr Mautner, the chief medical officer, will replace Graham Kelly in February. Mr Kelly, who will remain on the board, founded and was chief executive and chairman of Novogen.

Noxopharm is in clinical trials of a drug known as Veyonda, which enhances the effects of chemotherapy treatments for cancers. The company has also been trialling the same treatment on Covid-19 patients who suffer from septic shock.

It is also trialling an experimental immunotherapy cancer treatment based on the combination of Veyonda and a low dose of radiotherapy. Those trials are being undertaken with about 100 patients in North America, Europe and Australia who have prostate, breast and lung cancer.

The trials of the treatment, known as DARRT-2, are the first time that Veyonda has been made available to patients in the US.

It is being administered to patients at the Beverly Hills Cancer Centre in Los Angeles and at the MD Anderson Cancer Centre in Houston.

Dr Kelly said the company was “in the process of transiting from an early stage biotech company into a serious bio-pharma company looking to make its mark on the world stage”.

“I made the decision several months ago that 2022 was the time for a generational change and time to hand over to someone with large pharma industry experience who could oversee the company position itself as a valuable partnering opportunity,” he said.

“Having worked alongside Gisela for several years now, I have full confidence in her ability to achieve that objective.

Dr Mautner has held senior positions at pharmaceutical firms including Bayer and Amgen, and is on the executive committee of the Australian Pharmaceutical Medical and Scientific Professionals Association. She joined Noxopharm three years ago.

“Noxopharm is a unique company,” Dr Mautner said.

“I feel very honoured to be chosen as its next chief executive and I am excited to lead the company through its next stages … a new department head is being appointed to oversee the delivery of our clinical development program.”

Noxopharm shares rose 6.1 per cent on Wednesday to close at 44c. But the shares have had a difficult 12 months, dropping almost 20 per cent since January 2021.

Dr Mautner will have a base annual salary of $410,000 before superannuation and options to two million Noxopharm shares over a strike price of 54c subject to performance hurdles.