Virax names new managing director

Virax Holdings (ASX:VHL) has selected seasoned biotech executive Dr Rob Crombie to become its new managing director.

Crombie will take the reins of Virax on 16 June. He will be paid an annual salary of $300,000, as well as performance-based bonuses worth up to 20% of this salary.

Crombie played a key role in taking Arana Therapeutics from IPO to a $318 million sale. He has also held senior management positions at EvoGenix and is now a specialist consultant to start-up companies.

Virax Executive Chairman Dr Wayne Millen said Crombie has “an exemplary [commercial and scientific] background, bringing valuable doctoral qualifications in molecular oncology and deep commercial biotechnology experience particularly in partnerships, M&A and licensing agreements with global pharmaceutical companies”.

In his new role, Crombie said he plans to concentrate on taking Virax’s in-licensed oncology assets into clinical trials as quickly as possible.

Virax recently arranged to acquire Pathway Oncology, which has an exclusive worldwide licence to a cancer drug developed at Yale University and the Moffitt Cancer Center.

Virax Holdings (ASX:VRX) shares were trading unchanged at $0.008 as of around 12.30 pm on Thursday.