Race Oncology Ltd (ASX:RAC) has a new managing director and CEO in pharmaceutical and commercial leader Damian Clarke-Bruce who will assume the role from February 1 next year, with a view to moving Race to its next stage of commercial evolution.
Phil Lynch will transition back to his previous role as a non-executive director, working closely with Clarke-Bruce to ensure a smooth and effective leadership transition.
Global pharma leader
Clarke-Bruce brings more than 25 years of hands-on experience in drug commercialisation, gleaned from multiple global roles in the pharmaceutical sector, most recently as executive director of Marketing Global/US Commercial Lead in Rare Disease and head of the Global Launch Leadership Team for Pharming Healthcare Inc, New Jersey.
He has held executive roles at all stages of the drug development process, from pre-clinical evaluation through to successful commercial launch. He is also adept at picking out new markets for pharma assets and has overseen product registration, access and reimbursement, medical marketing and commercial sales.
Clarke-Bruce comes with an extensive network from within the pharmaceutical industry, as well as exceptional relationships with key opinion leaders across several therapeutic areas, including oncology, haematology and immunology.
Rigorous process
An extensive internal review in 2022 identified the need for a fulltime, highly experienced executive with global pharma partnership and drug development capability to advance the company.
Coulter Partners, a specialised international pharma/biotech executive recruitment firm, was appointed to identify suitable candidates.
The multi-month search included a diligent evaluation of capability and requirements by the Race board and management team.
Race Oncology chair Dr John Cullity said: “We owe a great vote of thanks to Phil for his calm and strategic stewardship of Race over the past two years. He stepped up into the CEO role at a time when we greatly needed his leadership.
"The company has grown rapidly, as have the opportunities ahead of us, and accordingly, Phil has decided to return to a non-executive director role.
“This enabled the board to commence a search for a fulltime CEO and we welcome Damian Clarke-Bruce, who will lead us through our next stage of growth.”
Commercial agenda
Race Oncology CEO and managing director Phil Lynch said: “I join John in welcoming Damian to the team and look forward to transitioning him into the role from February.
"I have enjoyed my time working with Daniel and the team at the executive level, but Race is now at a size and pace that requires a fulltime CEO, with ambitions for regular offshore travel as we push forward our commercial agenda."
Race Oncology CSO and executive director Dr Daniel Tillett said: “I want to thank Phil for his willingness and enthusiasm in stepping into the role of Race CEO so soon after retiring from a long and distinguished career at Johnson & Johnson (NYSE:JNJ).
“We would not have transitioned Race from a nano-cap biotech to a well-capitalised pharmaceutical company with global opportunities and aspirations without his wisdom and leadership. I am looking forward to working closely with both Damian and Phil as we advance Zantrene in the clinic.”