Consegna Group (ASX: CGP) has made a number of board changes to provide flexibility in building its executive management as it continues its transition from a company with IP to a commercial medical technology firm with income producing assets.
It has appointed former Prima BioMed (ASX: PRR) chief executive officer Martin Rogers as its deputy chairman.
Rogers has a successful track record in incubating companies and publicly listed organisations with experience in financial, strategic and operational management having raised over A$100 million cash equity.
He has been both an investor and senior executive in a privately funded advisory business in the science and biotechnology sectors, where he was instrumental in significantly increasing the value of those investments.
Rogers has also held roles with the management committee of the National Breast Cancer Foundation and Trustee of the University of Sydney Physics Foundation and International Science School.
Rod Tomlinson will step down as chairman of the company and as a non-executive director to focus on his role as chair of the Scientific Advisory Committee.
“My first love is working closely with the scientific teams to develop new and exciting medical solutions. As the company is now well positioned for growth, this role allows me to focus my attention on the considerable capacity we have within the company and to further identify, package and exploit life science technologies.”
Chief executive officer Fabio Pannuti, who will assume the role of executive chairman, said the company was fortunate to retain Tomlinso’s expertise as chair of the Scientific Advisory Committee “where we will able to access his significant experience in commercialising life science assets”.
Consegna sold its Linguet technology asset in July 2012 to Imugene (ASX:IMU) for 100 million shares with a current market value of A$1.3 million.
Imugene is continuing to commercialise the Linguet technology in the nutriceutical and pharmaceutical space.
Consegna is also currently in the final stages of due diligence with US based Triple AAA for the worldwide licensing of the BreatheAssist asset.
“We are delivering on our objectives with two strong deals after 18 months of operation. The strength of our team and our strategy is delivering returns,” Pannuti said.
“The purchase, package, profit strategy is delivering the sale of our technologies at considerable premiums. We are extremely pleased to add the extensive skills and experience of Martin Rogers to the board as we transition to the next stage of Consegna’s development.”
Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.