Managing director and CEO of Prescient Therapeutics Ltd (ASX:PTX, OTC:PSTTF), Steven Yatomi-Clarke, has advised that he is stepping down from his roles at the clinical stage oncology company to pursue a new appointment.
The board of Prescient will now conduct a search for a new CEO to continue the company’s momentum.
Yatomi-Clarke intends to remain in his position until the end of February 2025, while PTX conducts the search. If required, Prescient chair Steve Engl will act as executive chair until the appointment of the new CEO.
Ongoing assistance
Following the appointment of his successor, Yatomi-Clarke has agreed to remain available as a consultant to Prescient to provide ongoing assistance.
Engl said: “The board of directors and I deeply appreciate Steven’s outstanding leadership and strategic vision in building the company and an international R&D team over the last eight years and gaining the support of some of the most renowned thought leaders in cancer therapies.
“He has led the development of our PTX-100 oncology candidate, which began as a research stage project, and has produced positive clinical results, such that the project is now on the cusp of initiating a Phase 2 study.
"In addition, Steven has positioned Prescient very favourably in the nascent cell therapy field with two enabling platform technologies, by devising CellPryme and leading its development, and identifying the potential of an innovative modular approach in cell therapy, creating OmniCAR with licences from technology pioneers Penn and Oxford.
“His worldwide business development efforts have established Prescient as a recognised leader in novel cancer therapies, and the company has initiated discussions with dozens of potential pharmaceutical corporate partners. We will miss Steven and wish him the very best in his new venture.”
Yatomi-Clarke said, “It has been a privilege to serve as CEO of Prescient and I am so proud of what Prescient has achieved during my tenure. I remain very excited about the company’s prospects - Prescient is well placed and on a very exciting trajectory with all its programs.
Talented group of people
“I am also very honoured to have led such a talented group of people who are committed to developing new therapies for patients, and with the grit and determination that this challenge requires.
"I am committed to ensuring that we do not lose operational momentum in the coming months, with a number of important milestones, including the commencement of our Phase 2 trial of PTX-100 in T cell lymphomas.”
Yatomi-Clarke has been selected as the inaugural CEO of Aurora Biosynthetics, a private company that will spearhead the development of an RNA ecosystem in Australia, backed by over $200 million of NSW government support.