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AusCann Group Holdings Ltd

AusCann Group's new chief executive officer Ido Kanyon takes up role

The company is targeting the treatment of chronic pain in Australia while exploring global export opportunities and expansion into additional medical areas.

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New CEO Ido Kanyon is highly regarded in the pharmaceutical industry

AusCann Group Holdings Ltd's (ASX:AC8) new chief executive officer Ido Kanyon has today started in the new role.

Kanyon’s appointment was announced in February following a comprehensive international executive search conducted by the board.

With more than 15 years of experience in the pharmaceutical and medical device business across the life-sciences value chain, Kanyon has successfully launched innovative medicines globally covering a range of commercial strategies from digital health solutions to innovative biologics.

READ: AusCann Group appoints Teva Pharmaceutical executive as new CEO

Kanyon said: “I am excited to have formally joined the team at AusCann.

“I see tremendous opportunity for AusCann to lead in the delivery of cannabis-based pharmaceutical solutions that are endorsed by physicians and address the needs of patients who are suffering from inadequately treated medical conditions.

“The company has built a strong platform on which we will continue to grow.”

READ: AusCann Group continues transition into pharmaceutical manufacturing and sales company

AusCann said Kanyon was highly regarded in the pharmaceutical industry and his background in product development and commercialisation was ideally suited to lead the company's next phase of growth as a pharmaceutical development, sales and marketing business.

The new CEO added: “We have begun a comprehensive review of our strategic priorities, which will help us tailor our operating plans to ensure we deliver the positive healthcare outcomes and shareholder returns we are seeking.”

Kanyon will soon relocate to Perth from the United States and interim CEO Paul Macleman will revert to his role as executive director.

Quick facts: AusCann Group Holdings Ltd

Price: $0.38

Market: ASX
Market Cap: $118.89 m
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