CEO of Anatara Lifesciences, Steven Lydeamore, resigns

MELBOURNE: Anatara Lifesciences (ASX: ANR), a developer of evidence-based solutions for gastrointestinal diseases in humans and animals, announced the resignation of its Chief Executive Officer, Mr. Steven Lydeamore.

Mr. Lydeamore, who has been with the Company for three and a half years, will remain in the position until the last week of June to assist with an orderly transfer before pursuing other business interests.

Chair of Anatara, Dr. David Brookes said, “On behalf of our Board, I would like to thank Steven for his leadership and significant contribution to the Company over the last three and a half years. During this time Anatara has faced major headwinds with the return of global rights to Detach® followed by the Covid-19 pandemic. With limited resources, the Anatara team developed new formulations for piglets and poultry, both of which have been successful in proof of concept challenge studies.

With a changed strategic focus towards a human health emphasis, the Anatara team successfully completed GMP development of the novel GaRP technology. This GaRP technology is unique and believed to the only complementary medicine with release of active components to two different locations in the gastrointestinal tract. Two products have so far been developed utilising this technology, both of which are presently undergoing human clinical studies in irritable bowel syndrome and psychological health respectively.”

Chief Executive Officer of Anatara, Mr. Steven Lydeamore, said, “I am grateful for the opportunity given to me by the stakeholders of Anatara and would like to personally thank the Anatara Board for their support. I am proud of our achievements and am confident that upon successful completion of the human clinical studies, Anatara’s GaRP technology may be successfully commercialised and may provide breakthrough solutions sought by people with gastrointestinal disorders.”

Dr. David Brookes said “The Board will work closely with Steven to manage the transition by the end of the financial year. Upon completion of this transition, I will take the role of Executive Chair with appropriate support and the Board’s intention is not to immediately seek a replacement for the CEO role. With several important inflection points looming, notably the GaRP trial interim read out for dose selection expected in 3rd quarter of this calendar year, the Board is of the view that it is prudent to delay the recruitment process”.

Anatara Lifesciences Ltd (ASX:ANR) is developing and commercialising innovative, evidence-based products for gastrointestinal health where there is significant unmet need. Anatara is a life sciences company with expertise in developing products for human and animal health. Anatara is focused on building a pipeline of human gastrointestinal health products. Underlying this product development program is our commitment to delivering real outcomes for patients and strong value for our shareholders.

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