Hatchtech appoints Hugh Alsop CEO

Head lice treatment developer Hatchtech has named former Phosphagenics (ASX:POH) vice-president Hugh Alsop as its new CEO.

Alsop replaces Dr Ross Macdonald, who will resume his role on the Hatchtech board as a non-executive director.

In a statement announcing the change of guard, Hatchtech said Macdonald has “decided to resign to pursue other interests”. Macdonald was appointed CEO in May last year.

Alsop was named a VP of Phosphagenics in March 2012. Prior to this, he was director of business development at Acrux (ASX:ACR) between 2006 and 2012, where he helped oversee the up to $335 million licensing deal for the underarm testosterone treatment Axiron in 2010.

Alsop has also held roles at Sigma Pharmaceuticals (ASX:SIP) and Mayne Pharma (ASX:MYX) during his 16-year career in the pharmaceutical industry.

Hatchtech is commercialising DeOvo, a single application topical treatment for head lice. The company plans to enter phase III trials for the product this year to support a US FDA submission.

“The next 12 months will require a dedicated and focused execution of the company’s clinical, regulatory and commercial plans,” Alsop said.

“I look forward to leading this program to ensure the value of DeOvo is maximised for Hatchtech shareholders.”