PolyNovo names new CEO

PolyNovo (ASX:PNV) has appointed 20-year health sciences veteran Paul Brennan as its new CEO, effective immediately.

Brennan has extensive experience in health product development, market analysis regulatory pathways, competitor analysis and other aspects of the commercialisation process.

As CEO, Brennan will receive a remuneration package including a $270,000 salary and both long- and soft-term incentives.

Due to the appointment, former joint managing directors Philip Powell and David McQuillan have reverted to independent non-executive directors.

PolyNovo has also named Ivy Cheng as the company’s first regulatory affairs and clinical compliance manager.

Cheng will assume her new role in mid-March and help the company prepare to undertake trials to facilitate registration of its products in areas including wound and burns treatment.

Last year, PolyNovo secured both a CE Mark and US FDA 510(k) clearance for topical negative pressure (TNP) foam dressing NovoPore.

PolyNovo’s former parent company, Calzada, changed its name to PolyNovo and divested its subsidiary Metabolic Pharmaceuticals last year as part of a restructuring process.

Polynovo (ASX:PNV) shares were trading 2.27% higher at $0.09 as of around 1.30 pm on Monday.