Exonate has appointed Olav Hellebø as Chief Executive Officer as the company prepares to advance its lead retinal disease candidate, EXN407, into a Phase 2b clinical trial.
The Cambridge, UK-based biotechnology company is developing non-invasive, small-molecule therapeutics for retinal vascular diseases, including diabetic eye disease. Its lead asset, EXN407, is being developed as a topical eye drop designed to target the VEGF pathway without the need for intravitreal injections.
Hellebø brings experience across the pharmaceutical and biotechnology sectors, with senior leadership roles spanning ophthalmology, immunology, and oncology. He previously served as CEO of ReNeuron Group, where he in-licensed a retinitis pigmentosa program from Schepens Eye Research Institute, an affiliate of Harvard Medical School, and completed equity financings totaling $125 million.
He has also held senior positions at Schering-Plough (now Merck), Novartis UK, and UCB, where he led the Immunology Division following UCB’s acquisition of Celltech.
Exonate said the appointment forms part of its strategy to build momentum across its proprietary platform and therapeutic programs targeting retinal diseases. The company also announced that co-founder and former CEO Catherine Beech has been appointed as Director.
Rafiq Hasan, Chair of Exonate’s Board of Directors, said Hellebø’s operational and commercial leadership experience made him well suited to guide the company through its next stage of development. “His expertise in ophthalmology,” Hasan added, “together with his proven ability to build and lead successful organizations, makes him ideally suited to guide Exonate as we continue to advance our pipeline and create value for patients.”
Hellebø said Exonate is targeting “one of the most validated pathways in retinal disease” through a differentiated topical mechanism, adding that the company is ready for a Phase 2b study with a regulator-endorsed design and clear path to registration. “For the many patients who go untreated rather than accept injections, this is a compelling proposition,” he said.
Source: Exonate.
