Race continues Board renewal - appoints new Chair
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ASX Announcement
Race continues Board renewal, appoints new Chair
Mary Harney appointed Non-Executive Chair, following more than two years as
Race Non-Executive Director
Ms Harney’s skillset and decades of experience cover the full breadth of drug
development – from discovery through to commercialisation
Dr John Cullity to remain on Race Board as Non-Executive Director, in line with
Race’s planned Board renewal program.
20 April 2023 – Race Oncology Limited (“Race”) is pleased to announce that, as of today’s
date, Ms Mary Harney has been appointed Non-Executive Chair (NED), while Dr John
Cullity will remain on the Board as Non-Executive Director. Dr Cullity will continue to play
an important role in commercialisation and deal development, while maintaining his
ongoing position as a major shareholder.
Ms Mary Harney has been a Non-Executive Director of Race Oncology since 8 February
2021. An accomplished NED and life science executive, Ms Harney brings deep
understanding of academic and applied life science research, in addition to
biopharmaceutical regulatory affairs and commercialisation capability.
Ms Harney is the director of a specialist consulting firm providing leadership, governance
and strategic advice across innovation industries such as health, biotech and agriculture.
She currently also serves as Chair of Australian biotech companies, Oncology One Pty Ltd
and Microbio Limited.
In her prior roles as Interim CEO for the $2b Breakthrough Victoria Fund; CEO of Royal
Australasian College of Surgeons and Gardiner Dairy Research Foundation as well as
Director of the Office of Clinical Research/COO Research at Peter MacCallum Cancer
Centre, Ms Harney had carriage of strategy, risk management and the development of
best practice corporate, research and clinical governance.
Ms Harney has undergraduate degrees in science and art history from Monash University
and University of Melbourne respectively and international postgraduate qualifications
in diagnostic Cytopathology. In 2015, she was the collaborative winner, with Monash of
the AFR and B-HERT award for excellence in collaboration between industry and
academia for the dairy industry. In 2016, she was awarded Science Alumni of the Year by
Monash University. Ms Harney is a member of the Australian Institute of Company
Directors and is completing the INSEAD International Directors Program in Governance.
Dr John Cullity commented: “I am delighted to see Mary Harney named as Race’s next Chair.
Mary brings a deep level of skill and experience garnered through many decades of leadership
and cross industry business acumen. She has also been recognised through her career for her
ability to bring multiple stakeholders together to negotiate complex and high value outcomes,
which will prove critical as our presence and international exposure grows.
Race Oncology Ltd ABN 61 149 318 749
Registered office: L36, 1 Macquarie Place, Sydney NSW 2000
www.raceoncology.com
As part of our Board succession planning, in a strategic and measured way, we have instituted
CEO and Chair renewal over the last 12 months. I am delighted to see this coming to fruition
and look forward Race’s continued growth and evolution under Mary’s leadership. I remain
committed to the Board as both a Non-Executive Director and a major shareholder.”
Commenting on her appointment, Ms Harney said: “On behalf of my fellow Directors, I
would like to thank John for his commitment to and leadership of Race. It is a privilege to
succeed him as Chair.
I am enthusiastic about continuing to work with the Board and Management team to see the
development and commercialisation of Zantrene evolve to meet its critical milestones, so
bringing value to patients and shareholders.”
-ENDSAbout Race Oncology (ASX: RAC)
Race Oncology is an ASX listed precision oncology company with a Phase 2/3 cancer drug
called Zantrene®.
Zantrene is a potent inhibitor of the Fatso/Fat mass and obesity associated (FTO) protein.
Overexpression of FTO has been shown to be the genetic driver of a diverse range of
cancers. Race is exploring the use of Zantrene as a new therapy for melanoma and clear
cell renal cell carcinoma, which are both frequent FTO over-expressing cancers.
In breakthrough preclinical research, Race has also discovered that Zantrene protects
from anthracycline-induced heart damage, while in tandem acting with anthracyclines
and proteasome inhibitors to improve their ability to target cancer.
The Company also has compelling clinical data for Zantrene as a chemotherapeutic agent
and is in multiple clinical trials in Acute Myeloid Leukaemia (AML).
Race is pursuing outsized commercial returns for shareholders via its ‘Three Pillar’
strategy for the clinical development of Zantrene. Learn more at www.raceoncology.com
If you have any questions on this announcement or any past Race Oncology
announcements, please go to the Interactive Announcements page in our Investor Hub
https://announcements.raceoncology.com
Release authorised by:
Media contact:
Damian Clarke-Bruce, CEO/MD on
Jane Lowe
behalf of the Race Board of Directors
+61 411 117 774
damian.clarke-bruce@raceoncology.com
jane.lowe@irdepartment.com.au
Race Oncology Ltd ABN 61 149 318 749
Registered office: L36, 1 Macquarie Place, Sydney NSW 2000
www.raceoncology.com
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