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Race appoints Dr Daniel Tillett Chief Scientific Officer
Race Oncology is pleased to announce that Dr Daniel Tillett has been appointed Chief Scientific Officer (CSO) of RAC effective from 30 September 2019.
Dr Tillett recently anchored a share placement in RAC and was recently appointed as a Non-Executive Director of RAC. Because of his new executive responsibilities, Dr Tillett’s Board role will change to Executive Director.
The CSO role at RAC was vacated by US-based Dr John Rothman during 2018. Dr Tillett will now fill that role and assume responsibility for RAC’s overall R&D strategy, including manufacturing, and will assist the CEO in licensing discussions and with investor communications.
The CSO role is part-time, on average representing 40% of a full-time commitment by Dr Tillett. Dr Tillett has chosen to receive no cash compensation for this position, but subject to shareholder approval, will receive 2.5 million options priced at a 75% premium to the 5-day VWAP prior to the appointment; the options expire three years from date of grant.
“Daniel is going to add huge value to Race over the next year, not only as an investor and director, but now also as Chief Scientific Officer,” said Race CEO, Peter Molloy.
Dr Tillett has a PhD in molecular genetics and biochemistry from the University of New South Wales and is a current member of the Sydney Angels, an investment organisation dedicated to funding early-stage companies.
“I am very excited about taking a hands-on role with Race and helping get Bisantrene back into the clinic as quickly as possible. The more I have learned about Bisantrene the more potential I see it having in AML and other cancers. Teams as good as Race are rare in our industry and I couldn’t turn down the opportunity to help.” said Dr Daniel Tillett.
Dr Tillett was also a former Senior Lecturer within the School of Pharmacy at La Trobe University in Melbourne, specialising in pharmacy, phage therapy, microbiology, bioinformatics and cancer.
Race Oncology is a specialty pharmaceutical company which aims to rediscover drugs, often overlooked by big pharma organisations. The company’s first asset Bisantrene has been granted three US patents and Race recently successfully completed treatment on its first patient at the Sheba Medical Center in Israel as part of the Bisantrene trial.
The CSO role is part-time, on average representing 40% of a full-time commitment by Dr Tillett. Dr Tillett has chosen to receive no cash compensation for this position, but subject to shareholder approval, will receive 2.5 million options priced at 19 cents to the 5-day VWAP prior to the appointment; the options expire three years from date of grant.
“Daniel is going to add huge value to Race over the next year, not only as an investor and director, but now also as Chief Scientific Officer,” said Race CEO, Peter Molloy.
Dr Tillett has a PhD in molecular genetics and biochemistry from the University of New South Wales and is a current member of the Sydney Angels, an investment organisation dedicated to funding early-stage companies.
“I am very excited about taking a hands-on role with Race and helping get Bisantrene back into the clinic as quickly as possible. The more I have learned about Bisantrene the more potential I see it having in AML and other cancers. Teams as good as Race are rare in our industry and I couldn’t turn down the opportunity to help.” said Dr Daniel Tillett.
Dr Tillett was also a former Senior Lecturer within the School of Pharmacy at La Trobe University in Melbourne, specialising in pharmacy, phage therapy, microbiology, bioinformatics and cancer.
Race Oncology is a specialty pharmaceutical company which aims to rediscover drugs, often overlooked by big pharma organisations. The company’s first asset Bisantrene has been granted three US patents and Race recently successfully completed treatment on its first patient at the Sheba Medical Center in Israel as part of the Bisantrene trial.