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Cellmid appoints Dr Fintan Walton as a non-executive director

Published: 12:30 21 Jul 2015 AEST

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Revenue stage biotechnology company Cellmid (ASX:CDY) has appointed Dr Fintan Walton as a non-executive director.

He has worked with most major and mid-sized pharmaceutical and biotechnology companies over 33 years in the sector.

His experience extends to industries such as pharmaceuticals, diversified chemicals, diagnostics, medical devices, generic and over-the-counter medicines as well as government agencies. 

Walton has transactional experience representing corporates as well as major banks, investment and merchant banks, private equity and venture capital groups.

He is founder and chief executive officer of PharmaVentures Ltd, a UK-based corporate advisory firm with more than 30 professional advisers, assisting pharmaceutical and biotechnology companies worldwide in all aspects of corporate transactions, business brokering, mergers and acquisitions and licensing deals.

Since he founded PharmaVentures in 1992, he and his team have advised blue chip clients in North America, Europe and Asia, delivering more than 700 assignments for 180 companies in 38 countries.
   
Dr David King, Cellmid chairman, said:

“Fintan’s unparalleled transactional experience and understanding of the global deal making environment will be invaluable in both our midkine and consumer health businesses.”

Earlier this month, the company released preliminary results indicating that its consumer health revenue increased by about 63% for FY2015 to $1.84 million.

This is due to better than expected sales during 4Q 2015 from the company’s Japanese TV shopping and the Australian pharmacy businesses.

Australian sales were up more than 400% during the last quarter with its évolis® shampoos available in selected pharmacies since May 2015.

Cellmid seeks to have its Active Packs, which contain both shampoos and lotions sufficient for 12 weeks, available in over 1,000 pharmacies in Australia by the end of 2015.

The company will also focus on increasing online sales in Japan.

It expects to become the first Japanese company to use digital tools in the salon market, with technical presentation and ordering made handy by the use of a tablet.

This will reduce the burden from salons to carry stock for sale – a limiting factor for smaller businesses.



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