Imugene names Charles Walker as new CEO

Imugene (ASX:IMU) has appointed biotech industry veteran Charles Walker to the post of CEO, to help lead the development of its HER-Vaxx candidate as an immunotherapy for gastric cancer.

Until February, Walker was the CEO of Alchemia (ASX:ACL). He was appointed to this role in February 2013 and had been Alchemia’s CFO for two years prior.

During his tenure at Alchemia, he helped oversee the initiation of phase II and III trials of the company’s own anticancer drug candidate HA-Irinotecan.

Imugene Executive Chairman Paul Hopper said this experience will help Imugene progress HER-Vaxx into the phase II trial stage.

“Charlie is an outstanding candidate to move Imugene to the next stage of its development. He has that rare successful blend of science and commerce in his professional career,” Hopper said.

Imugene recently commenced the Investigational New Drug (IND) application process in the US for HER-Vaxx, and also appointed a manufacturer and a peptide manufacturer to produce the vaccine units for the trials.

Walker’s employment terms stipulate a starting salary of $180,000, and this may be increased to up to $250,000 upon the achievement of certain milestones. The remuneration package also includes a share purchase component.

Imugene (ASX:IMU) shares were trading 6.67% higher at $0.016 as of around 1.30 pm on Tuesday.