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Ross Macdonald to lead Australian pharma company Hatchtech

Joins as Hatchtech prepares to initiate phase III trials of head lice treatment

Australian pharma firm Hatchtech has appointed Dr Ross Macdonald as its new CEO as the company prepares to initiate phase III trials for novel head lice treatment product DeOvo.

Dr Macdonald is currently a non-executive director of Hatchtech's board, and has worked in the pharmaceutical industry for 24 years.

Most recently, he was managing director and CEO of Living Cells Technology from August 2010 to July 2011, following a year-long spell at Sinclair Pharmaceuticals where he served as VP business development.

Prior to his time at UK-based Sinclair, he was VP corporate development for Stiefel Laboratories, which was acquired by GlaxoSmithKline in 2009 for £2.25bn.

His other previous positions include serving as VP of R&D with FH Faulding & Co Limited (acquired in 2001 by Mayne Nickless) and managing director of Soltec Research.

In addition to Dr Macdonald's appointment, Hatchtech has also secured additional capital, bringing total funds raised AUD7.8m, to enable the continued development of its head lice therapy.

“The further injection of capital confirms our investors' enthusiasm in light of the clear attainment of efficacy endpoints from our recent Phase 2b clinical trial of DeOvo,” said Hatchtech's chair, Dr Paul Kelly.

“Hatchtech is in an excellent position to complete the clinical development of DeOvo and proceed with product commercialisation.”

3rd May 2012

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