Clinical Cell Culture Ltd co-founder Dr Fiona Wood is to step down from the board of the company, which is in the midst of commercialising the results of her burns research.
Clinical Cell Culture Ltd co-founder Dr Fiona Wood is to step down from the board of the company, which is in the midst of commercialising the results of her burns research.
Dr Wood intends to remain a consultant for the biomedical company as well as a R&D partner, through the McComb Foundation, and shareholder.
A celebrated surgeon specialising in burns at Royal Perth Hospital, she has been the main driving force behind the development of C3's key product range focusing on spray-on delivery for skin grafts.
But Dr Wood said the company's head office was now located in the UK and with commercialisation now taking place, it was time to step down from the board.
"My personal commitment is to medical practice and research and I look forward to once again making those activities my priority," she said.
An additional non-executive director has not yet been appointed.
The full announcement is shown below:
Clinical Cell Culture Ltd (C3, ASX: CCE) announced today that C3's co-founder Professor
Fiona Wood will step down from the Board of the company on 31 December 2005.
Professor Fiona Wood will remain a consultant, a R&D partner through her key research
vehicle the McComb Foundation and a substantial C3 shareholder.
C3 Chairman Dalton Gooding said Professor Fiona Wood would step down from the Board
as the company moved to full commercialisation of its ReCell®, CellSpray® and CellSpray®
XP products.
"Fiona has been an outstanding contributor to C3. Her commitment to scientific excellence
and medical innovation has helped to build C3 into a leading edge technology provider,"
said Mr Gooding.
"She has now overseen the commercialisation of C3's technology and is keen to re-focus
her energies on core medical research through the McComb Foundation.
"Fiona will always remain an important member of the C3 family and will be an important
contributor to the ongoing development of our technology base, as Chairman of C3's
Scientific Advisory Board."
Professor Fiona Wood said she was pleased to step down from the Board when the
company was in a strong position in terms of product commercialisation, corporate
development and financial resources.
"With C3's corporate activities located in the United Kingdom and the company now selling
products around the world, it is an appropriate time for me to step down from the C3
board," she said.
"My personal commitment is to medical practice and research and I look forward to once
again making those activities my priority," said Professor Fiona Wood.
"I remain very committed to the success of C3 and look forward to a continued active
association as a consultant, research collaborator and shareholder."
Mr Gooding said C3 expected to appoint an additional non-executive director in due
course.
