OSLO/LONDON, OCTOBER 19th 2021: EXACT THERAPEUTICS AS ("EXACT-Tx" or the
"Company"), a clinical stage precision medicine company utilising Acoustic
Cluster Therapy (ACT®) across multiple therapeutic areas, today announced
changes to the management team.
Dr Rafiq Hasan has decided to step down as CEO of the Company to pursue other
business interests. Before joining EXACT-Tx, Dr Hasan spent more than 15 years
in Ophthalmology and is now looking to move back into the sector. During his
tenure at EXACT-Tx, Dr Hasan has established a strong management team and
prepared the company to restart recruitment into the Phase I ACTIVATE study in
the coming months.
Dominic Moreland, currently CFO will assume the additional Interim CEO position
and Dr Masha Strømme will assume the position of Executive Chair during the
recruitment process for a successor to Dr Hasan. Dominic and Masha will work
with Dr Hilary McElwaine-Johnn (CMO of EXACT-Tx) to ensure an orderly transition
of leadership and smooth continuation of pre-clinical and clinical development
Dr Masha Strømme, Chair of the Board of Directors of EXACT-Tx commented "I would
like to thank Rafiq for his dedicated work for the Company and wish him every
success in the future".
ACT® is a proprietary formulation consisting of microbubbles and microdroplets
that are activated through the application of ultrasound with the consequent
increase in targeted delivery of a co-administered therapeutic agent.
ACT® is supported by a strong and broad preclinical package demonstrating
therapeutic enhancement in multiple oncology models (pancreatic, breast, colon,
prostate) as well as blood-brain barrier penetration.
The initial focus of the company is oncology, however the ACT® platform has
potential across several therapeutic areas (infectious diseases, CNS,
immunotherapy) and product classes.
EXACT-Tx is a clinical stage Norwegian biotech company developing a technology
platform for targeted therapeutic enhancement - Acoustic Cluster Therapy (ACT®).
ACT® sonoporation is a unique approach to ultrasound-mediated, targeted drug
enhancement - with the potential to significantly amplify the clinical utility
of a wide range of therapeutic agents across a multitude of indications
including within oncology (chemotherapy, immunotherapy), infectious diseases,
and neurological conditions. www.exact-tx.com
For more information contact:
CFO and Interim CEO