March 7 2012.
Australian biopharmaceutical company Immuron Limited (ASX: IMC) announces the appointment of Mr Joe Baini as Chief Executive Officer, effective immediately. Previously he held the position in an interim capacity. His ongoing appointment ensures uninterrupted progress of the company’s commercialisation and development activities.
Mr Baini was appointed Interim CEO in January 2011 and has been instrumental in transformating the company over the last 12 months. Under his guidance Immuron initiated and finalised the license agreement with Paladin Labs for Travelan, obtained IND approval from the FDA in the USA for Immuron’s NASH/Fatty Liver product (IMM-124E), and generated strong interest from major overseas companies in both products.
As well, research and development has progressed for other possible products to prevent and treat influenza and C. difficile infections, through agreements with the University of Melbourne and Monash University, respectively.
Announcing the appointment, company Chairman Professor Colin Chapman said “Joe’s leadership over the past year has been pivotal to Immuron’s commercial and product development strategy, and the Board is delighted to have secured his ongoing services. Joe’s experience with local and global pharmaceutical companies will be especially important as Immuron escalates negotiations with multi-national companies.”
Mr Baini has over 20 years experience in the pharmaceutical industry, focused on commercialisation, including marketing, sales, partnerships, government and licensing negotiations. He is the former General Manager of Gilead Sciences Australia, New Zealand and Asia, one of the largest biopharmaceutical companies in the world. During his five-year tenure, Gilead transformed from a fledgling organisation into a major player within the infectious diseases markets. Mr Baini has also held senior commercial management positions at Bayer Australia, Pharmacia & Upjohn and Merck, and was Chairman of Avexa Ltd.
Mr Baini, in accepting the appointment, said: “While there are challenges ahead, Immuron has never been in a better position with its product pipeline. There is growing interest in both Travelan and IMM-124E, with commercial discussions and negotiations already underway with multinational companies. I look forward to continuing the work with Immuron's outstanding team to commercialise new products and expand markets.”
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About Immuron Limited
Immuron is a biopharmaceutical company focused on oral immunotherapy treatments using dairy-derived antibody products for humans. Immuron is uniquely positioned with a versatile technology platform capable of generating a wide range of products with a high safety profile. This high safety profile makes it possible to complete pre-clinical studies relatively quickly and increases the prospect that the clinical development of Immuron’s products will be expedited. Immuron’s current products and product candidates target infectious diseases of the gastrointestinal tract, chronic diseases such as fatty liver (NASH), and the prevention of influenza. Immuron has one product in the market, Travelan, for preventing travelers’ diarrhoea. Immuron’s main scientific alliances are with Hadassah Medical Center (Israel), the University of Melbourne and Monash University (Australia).