Singapore: Leading Australian peptide drug discovery company Phylogica appointed Dr Richard Hopkins as the company's new CEO as part of a broad company strategic review. He will be appointed to the board effective immediately.

Dr Hopkins has been with Phylogica since 2006, where he served in variety of positions, most recently as chief scientific officer (CSO). Dr Hopkins has worked with the phylomer platform for over 12 years and is a founding shareholder in Phylogica. Priviously he has also held senior research roles at the Telethon Institute for Child Health Research, Department of Medicine at the University of Western Australia and Murdoch University.

Dr Doug Wilson, chairman, Phylogica, said that, "Richard will be an excellent CEO. He has carried the company's contracts with clients and their R&D plans for some years and also held the role of chief operating officer where he also managed budgets. He is a gifted communicator and well accepted internationally. He will fulfill the CEO role admirably."

As part of a wider management re-structure, Dr Paul Watt will retire as a director and transfer from CEO to take on the CSO role. This change will allow Dr Watt to focus on developing new and exciting scientific and research opportunities for the company.

Dr Wilson thanked Dr Watt for his contribution as CEO. "Paul played a major role in negotiating Phylogica's four discovery alliances with top 10 pharmaceutical companies, which has helped forge an international reputation for the company. The board is also very grateful to Paul for his important work and his flexibility with the re-structure. He is a very gifted and imaginative scientist and we are eager to work with him to find the optimal role for him going forward," Dr Wilson said.

Mr Nick Woolf has also announced his intention to retire as a director immediately and to step-down from his current role as chief financial officer at the end of September to pursue other strategic interests. The new CFO will be Mr Graeme Boden, the current company secretary.

"Nick has been a robust supporter of the company during his three years and his contributions have been much appreciated by the Board and staff. We thank him for his dedication and commitment," said Dr Wilson.

Dr Wilson noted the company management structure had been reorganized to position it for the on-going contractual obligations and emerging strategic opportunities. Importantly, the changes will decrease the company's cost-base and make the company's aspirations more achievable.