Starpharma Holdings Ltd VP Dr Malcolm McColl Appointed CEO of Viralytics Ltd

Starpharma Holdings Ltd VP Dr Malcolm McColl Appointed CEO of Viralytics Ltd

11/14/2012 7:27:15 AM

14 November 2012 -- Starpharma Vice President and respected biotechnology professional Dr Malcolm McColl has been appointed Chief Executive Officer of Viralytics Limited (ASX:VLA).

From 2010 Dr McColl was Vice-President of Business Development at Starpharma where he was responsible for completion of partnering transactions with global and regional companies. He initiated and had a lead role in the development of Starpharma's in-house docetaxel oncology drug program.

Prior to returning home to Australia in 2010 Dr McColl spent three years based in the UK at NYSE-listed global healthcare company Hospira as Business Development Director for Europe, Middle East and Africa. In that time he led negotiations and due diligence for a significant number of licensing and acquisition transactions with a focus on oncology.

Prior to this role he was Director of Business Development for the Asia Pacific region at Hospira (previously Mayne Pharma) and also 13 years with CSL in roles in its Animal Health Division including four years based in the USA as Global Vice-President Business Development.

Announcing the changes, VLA's Executive Chairman Paul Hopper said he is delighted to appoint someone of Dr McColl's calibre to lead the Viralytics team.

"Dr McColl's experience with big pharmaceutical companies such as CSL and Hospira and proven ability to negotiate at the highest level is ideal for Viralytics," Mr Hopper said.

"Viralytics is at an important stage in its development and we're determined to do everything we can to maximise value for shareholders. Every good Chairman knows that a strong CEO appointment is essential in enabling the value inflexions."

Dr McColl brings more than 20 years biotechnology experience to the position. He has spent most of this time developing or acquiring new products and maximising commercial returns by way of partnerships with global and local pharmaceutical companies. He has completed approximately 50 research, development, licensing, M&A and other partnering transactions in his career.

Dr McColl said, "The Viralytics platform has enormous scope and using oncolytic virotherapy to treat cancer is emerging as a compelling new technology in cancer research and treatment. Viralytics is well-respected with excellent programs already in place thanks to the good work of current and previous management. I look forward to making a substantial contribution to the future success of Viralytics and driving the programs forward."

Dr McColl has a Bachelor of Veterinary Science degree with first class honours from the University of Melbourne and an MBA from the Melbourne Business School.

About Viralytics Ltd: Viralytics is listed on the Australian Securities Exchange (ASX code: VLA), Viralytics ADR trades under VRACY on the OTC market in the USA. Viralytics' principal asset is the intellectual property relating to CAVATAK™, an Oncolytic Virus technology. CAVATAK™ is the trade name for Viralytics' proprietary formulation of the Coxsackievirus Type A21 (CVA21). EVATAK™ is the trade name for Viralytics' proprietary formulation of the Echovirus Type 1 (EV1). CVA21 and EV1 are viruses that occur naturally in the community. CVA21 and EV1 attach to the outside of cells, using a specific 'receptor' on the cell's surface (like a key fitting a lock). CVA21 uses the receptors, intercellular adhesion molecule-1 (ICAM-1) and/or decay accelerating factor (DAF) to bind and infect target cells. Both of these receptor proteins have been demonstrated to be highly expressed on multiple cancer types, including: melanoma, prostate cancer, breast cancer, multiple myeloma and others. EV1 uses the receptor, integrin (2®1 to bind and infect target cells. Integrin (2®1 has been demonstrated to be highly expressed on multiple cancer types, including: prostate cancer, ovarian cancer and others.

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