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ASX:CDY - Cellmid Ltd Research

New Lyramid CEO Appointment

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Company Overview

Cellmid produces évolis®, which has been one of the best selling haircare products of all time on QVC with 33,000 repeat customers in Japan and is poised for further growth. Cellmid is also aiming to commercialise a Rapid Coronavirus Rapid Test in the Australian market after signing a supply agreement with Guangzhou Wondfo Biotech.

Release Date (5 years ago)
  •   August 16th, 2019
Initiation Date (5 years ago)
  •   May 10th, 2019
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On the 28th May 2019, Cellmid announced the appointment of Bart Wuurman as CEO of the company’s Lyramid subsidiary. 

The primary purpose of the appointment is to allow Mr. Wuurman to drive a licensing or partnership agreement for Cellmid’s extensive IP over Midkine antibodies.

Notable achievements by Mr. Wuurman include his role as CEO at AM-Pharma where he achieved a €600m option deal with Pfizer. 

We believe this news is positive for several reasons.

Firstly, given the track record of Mr. Wuurman, we think this appointment will increase the likelihood of generating a successful partnership or commercial outcome for Cellmid’s Midkine assets.

Secondly, Mr. Wuurman’s remuneration package includes options which are granted upon achieving a successful outcome, which is a vote of confidence by Mr. Wuurman as to the marketability of Cellmid’s Midkine assets.