Cartherics appoints new CEO, Dr Ian Nisbet
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The news: Australian IVF pioneer and medtech leader Cartherics has appointed co-founder and COO Dr Ian Nisbet as chief executive officer, as current CEO and co-founder Alan Trounson transitions to the role of deputy chair of the Cartherics board.
The context: Nisbet is an industry veteran, having gained over 40 years in biotechnology across Australia and the US and led development teams for two FDA-approved oncology drugs.
Nisbet’s appointment comes as Cartherics prepares for clinical trials of its CAR-iNK cell therapies. Late last year the biotech was awarded a $456,000 (USD300,000) G-Rex grant to support clinical manufacturing of its lead ovarian cancer treatment product CTH-401 for upcoming clinical trials.
At the heart of Cartherics' approach is a few emerging cell technologies that have shown promise in treating cancer and bringing them together to “re-arm the body’s immune system”. The end goal is the development of “off-the-shelf” (allogeneic) immune cell therapy products for the treatment of cancer.
Cartherics raised $30 million between 2015 and 2021 from high net worth investors from China, Malaysia and Australia (some of them investors who’d made money through Trounson’s previous endeavours), topped up with $8 million in grant funding, and built a state of the art R&D lab in Melbourne.
What they said: Commenting on the leadership transition, Trounson said: “I support the transition of Ian Nisbet to CEO, he is an extremely competent executive with sound experience in the delivery of the business of Cartherics. This change will allow me to develop a new interest and help guide Cartherics’ growth and success from the Board.”
The source: Cartherics press release
