Helix BioPharma Corp (TSE:HBP) (OTCMKTS:HBPCF) (FRA:HBP), an immuno-oncology company, announced that Heman Chao plans to resign as CEO, Chief Scientific Officer and member of the board, effective September 1, 2021.
On that same date, Chao will assume the position of chair of the company's scientific advisory board.
"It has been a privilege to be able to work with Helix,” Chao said in a statement. “I am particularly honoured to have assisted the development of the DOS47 technology from lab bench to the clinic. I will continue to support the company in any way I can, including in my continuing role as the chair of the company's scientific advisory board. I have the utmost confidence in the abilities of the existing management team and board going forward and remain as enthusiastic as ever about the future prospects of the company."
READ: Helix BioPharma spends C$1.9M on R&D in its fiscal third quarter
The board has identified candidates for a new CEO and director, the company said.
"As chair of the board, I want to thank Heman for his outstanding commitment and dedication to the company since joining the company as its CSO in 2008 and in his role as CEO since 2017,” Sławomir Majewski said. “Heman has worked tirelessly to advance the company's immunotherapy research and drive the company forward. We are delighted that he will continue to be the chair of the scientific advisory board.”
“We continue to be excited about the future of the company and the prospects of its work developing important immunotherapy treatments, including the company's primary drug candidate, L-DOS47. The company's clinical programs remain our highest priority."
Helix BioPharma’s DOS47 is designed to turn a tumor's environment to alkaline from acid, which, in turn, corrects an impaired immune system. The company says it is the only therapeutic in advanced development based on a unique mechanism of action and can be combined with chemotherapy, biologics and other novel treatments.
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