Opthea Ltd 6-K, filed Jun 8, 2023
Opthea Ltd (CKDXF)
About this 6-K
Opthea Ltd filed this 6-K on June 8, 2023.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of June 2023
Commission File No. 001-39621
OPTHEA LIMITED
(Translation of registrant’s name into English)
Level 4
650 Chapel Street
South Yarra, Victoria, 3141
Australia
(Address of registrant’s principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (1):
Yes ☐ No ☒
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (7):
Yes ☐ No ☒
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ☐ No ☐
EXHIBIT INDEX
Exhibit |
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Description |
99.1 |
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Press Release - Opthea Appoints Anshul Thakral as Non-Executive Director of the Board |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.
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OPTHEA LIMITED |
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(Registrant) |
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By: |
/s/ Megan Baldwin |
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Name: |
Megan Baldwin, Ph.D. |
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Title: |
Chief Executive Officer and Managing Director |
Date: 6/08/2023
Exhibit 99.1
ASX, Nasdaq and Media Release
June 8, 2023
Opthea Appoints Anshul Thakral as Non-Executive Director of the Board
Melbourne, Australia; June 8, 2023 – Opthea Limited (NASDAQ:OPT; ASX:OPT), a clinical stage biopharmaceutical company developing novel therapies to treat highly prevalent and progressive retinal diseases, is pleased to announce the appointment of Mr. Anshul Thakral as a Non-Executive Director of the Company’s Board of Directors. Concurrently with this appointment, Mr. Michael Sistenich has resigned as a Non-Executive Director, having served for over 7 years on the Board.
Opthea’s Chairman, Dr. Jeremy Levin, commented “We are immensely grateful to Michael for his contribution to Opthea. Having joined the Board in 2015, Michael has been a valued contributor to Opthea’s growth as the Company transitioned from early-stage clinical research to a dual ASX-Nasdaq listed company running global registrational Phase 3 clinical trials for wet AMD. We offer our sincere thanks and best wishes to Michael and extend a warm welcome to Anshul as a member of the Board.”
Mr. Anshul Thakral is Chief Executive Officer and Board Member of Launch Therapeutics, a clinical development company backed by funds managed by global investment firm Carlyle (NASDAQ: CG) and its life sciences franchise, Abingworth. Opthea’s Chief Executive Officer and Managing Director Dr. Megan Baldwin said “Opthea entered into a large, non-dilutive structured financing with Carlyle and Abingworth, in collaboration with Launch Therapeutics in August 2022. Anshul’s joining the Board of Opthea further builds our relationship with the Launch Therapeutics team and we look forward to working closely with Anshul as we advance our Phase 3 program.”
Mr. Thakral has worked for over 20 years in the pharmaceutical and biotechnology industry and is an experienced executive, management consultant and entrepreneur. “I am honored to join the Opthea Board and to work alongside great minds in science and healthcare,” said Mr. Thakral. “I feel confident that together, we will continue to find solutions for patients and drive value for shareholders.”
Mr. Thakral was previously Chief Commercial Officer and Executive Vice President of Peri and Post-Approval Services at PPD, and prior to that was Global Head of PPD Biotech. Before PPD, Mr. Thakral ran the global life sciences business unit at Gerson Lehrman Group (GLG) and worked at McKinsey & Company as an associate principal in the health care practice, where he provided strategic advice to global pharmaceutical and biotechnology companies on growth, research and development, business development and commercialization. He currently serves on the boards of TriNetX, Saama Technologies, Orsini Specialty Pharmacy, is an Operating Executive at Carlyle and is a Venture Partner at Abingworth. Mr. Thakral holds a Master’s degree in Biomedical Engineering from Johns Hopkins University and a Masters Business Administration (MBA) from the Wharton School at the University of Pennsylvania.
About Opthea Limited
Opthea (ASX:OPT; Nasdaq:OPT) is a biopharmaceutical company developing novel therapies to address the unmet need in the treatment of highly prevalent and progressive retinal diseases, including wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME). Opthea’s lead product candidate OPT-302 is in pivotal Phase 3 clinical trials and being developed for use in combination with anti-VEGF-A monotherapies to achieve broader inhibition of the VEGF family, with the goal of improving overall efficacy and demonstrating superior vision gains over that which can be achieved by inhibiting VEGF-A alone.
Inherent risks of Investment in Biotechnology Companies
There are a number of inherent risks associated with the development of pharmaceutical products to a marketable stage. The lengthy clinical trial process is designed to assess the safety and efficacy of a drug prior to commercialization and a significant proportion of drugs fail one or both of these criteria. Other risks include uncertainty of patent protection and proprietary rights, whether patent applications and issued patents will offer adequate protection to enable product development, the obtaining of necessary drug regulatory authority approvals and difficulties caused by the rapid advancements in technology. Companies such as Opthea are dependent on the success of their research and development projects and on the ability to attract funding to support these activities. Investment in research and development projects cannot be assessed on the same fundamentals as trading and manufacturing enterprises. Therefore, investment in companies specializing in drug development must be regarded as highly speculative. Opthea strongly recommends that professional investment advice be sought prior to such investments.
Authorized for release to ASX by Megan Baldwin, CEO & Managing Director
Company & Media Enquiries: |
Join our email database to receive program updates: |
U.S.A. & International: Timothy E Morris CFO Opthea Limited Tel: +1 650-400-6874
Australia: Rudi Michelson Monsoon Communications Tel: +61 (0) 3 9620 3333
Media: Hershel Berry Blueprint Life Science Group Tel: +1 415 505 3749 hberry@bplifescience.com
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Tel: +61 (0) 3 9826 0399 Email: info@opthea.com Web: www.opthea.com
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