SYDNEY, Australia: Paradigm Biopharmaceuticals, a late-stage drug development company focused on delivering new therapies to address unmet medical needs, announced that its CEO, Mr Marco Polizzi, has stepped down from his role and will cease employment with the Company on 20 February 2023.
The Paradigm Board said “The Paradigm Board would like to thank Mr Polizzi for his service to Paradigm.”
The Paradigm Board has appointed Paradigm’s founder and Non-executive Chairman Mr Paul Rennie as Paradigm’s Managing Director during this transition period to 20 February 2023 and thereafter. Mr Rennie said: “I am pleased to advise that the personal circumstances that originally required my stepping down from the Managing Director role in 2021, have now been successfully resolved. I look forward to working closely again with the Paradigm executive team and the Board in continuing our journey together.”
Mr Rennie will continue to serve on the Paradigm Board, now as an Executive Chairman. The Board has appointed Mr Rennie as Managing Director, having considered his in-depth knowledge of all aspects of the Company’s technology and business which will support a seamless transition and will place the Company in the best position to achieve its objectives.
Mr Rennie first founded Paradigm in 2014, took the Company public in 2015 and negotiated the bene pharmaChem exclusive supply agreement. He has generated and in-licensed patents, such as the MPS and lysosomal storage disease patent to grow Paradigm’s intellectual property portfolio.
These accomplishments along with a myriad of financial and investor relationships in the Paradigm Board’s view make Mr Rennie the optimal Managing Director appointment to continue to cultivate and drive the business forward.
