Singapore, April 8, 2008: NeuroDiscovery, a specialty neuroscience services provider and drug development company from Australia has appointed Dr Iain Chessell, former worldwide head of pain research at GlaxoSmithKline (GSK), as its CEO, and as a Director of the company. He will be based in the UK, where NeuroDiscovery has its operational base.  As Chief Executive of the group, Dr Chessell will visit Australia approximately 3 times a year.

 

Dr Chessell has a vision for NeuroDiscovery that positions the company for value growth in the near and long term with a view to maximising the benefit of well defined synergies between the services and discovery arms of the business.

 

NeuroDiscovery expects to announce clinical data for two of its development products in the next four months; two phase II studies are completing for the product NSL-101, and single and repeat dose studies with NSL-043 will be reported in the same time frame.

 

Dr Chessell said, “This is a very exciting time for NeuroDiscovery’s drug development pipeline, and we anticipate positive data will generate real value for the shareholders and the company. It is somewhat unusual to have a single product in development for a company of NeuroDiscovery’s size, but to have two, with data reporting at similar times, is an incredible achievement.”

 

The revenue business continues to grow steadily, and has remained consistently profitable. Focussed on providing high-calibre data for highly respected clients, as well as providing dedicated resource to pursue internal discovery programmes, the business has developed a reputation for scientific excellence.