Solbec's managing director resigns

Perth-based Solbec Pharmaceuticals' (ASX:SBP ) managing director, Stephen Carter, has resigned.

Carter will continue to work for Solbec until his contract expires on December 31, 2005 and will remain as a consultant and a director for the company after that time.

Solbec chairman Tony Kiernan said that while Carter does not have anything specifically in mind he is "at a stage in which he wants to look at doing a couple of other things".

Solbec will be looking to appoint a new CEO in the near to short term.

"We're talking to some groups about the future direction of the company anyway, and it may well just arise out of that," said Kiernan. "There is no timeframe at the moment, although life will move on."

Kiernan said that Solbec is moving into a different stage in the development of its lead anti-cancer compound Coramsine, with phase II trials planned.

The company will therefore be looking someone with experience in clinical trials, particularly in the United States, but also in Australia, said Keirnan.

"When you're going into your phase II trials you're starting to look at a lot more people, and a lot more geographical sites," said Keirnan.

The company may also be looking for someone with an oncology background, said Kiernan.

New executive director

In the meantime, Solbec has appointed Dr Graeme Howie as an executive director.

Howie has 28 years experience working in the Australian and global pharmaceutical industry with positions at Pharmacia and later Pfizer in the US. He is also a director of Neuren Pharmaceuticals (ASX:NEU).

"Graeme is a very experienced biotech pharmaceutical executive, he's also a West Australian," said Kiernan.

"Graeme would sit on the other side of the desk to companies like Solbec. Where we're pitching our technologies to the Pfizer's of the world, Graeme was responsible for evaluating and also taking some of these drugs into the next stage," he said. "It's terrific for us."