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In a recent letter to its top shareholders, Perth-based oro-mucosal drug delivery company SUDA Pharmaceuticals Ltd (ASX:SUD) has outlined the steps it is taking amidst COVID-19 pandemic, that has so far infected more than 780,000 people and claimed lives of over 37,000 across 178 countries.
To deal with this global shock, SUDA has implemented critical measures for the health and wellbeing of its people, which include establishing a work from connection when required and enforcing the distancing rule. SUDA has also applied some draconic, though essential, new rules governing its everyday work ethic.
Post the key update, SUDA’s stock rallied 16.7% to $0.049 on 31 March 2020. The stock is further up by ~6% to $0.052 on 1 April (3:45 PM AEDT).
Continuing to Work Through its International Projects
SUDA notified that it has been engaged in discussions with its domestic and international partners as they evaluate COVID-19 impacts on their core business activities. SUDA is also assessing how best it can resume working together in Australia and abroad.
Moreover, SUDA informed that it is continuing to work through and promote its projects with international partners, including its significant deal with Mitsubishi Tanabe Pharma Korea.
Progressing with the commercial buildout of its insomnia drug ZolpiMist™, last week, SUDA signed an additional licence agreement with Mitsubishi Tanabe Pharma Korea. The deal, which marked the completion of another substantial agreement with Mitsubishi Tanabe Pharma Corporation, is expected to expand ZolpiMist™ coverage throughout Asia. SUDA is also continuing discussions with other parties to further buildout the commercialisation of ZolpiMist™ in other territories.
Our Team Has the Added Impetus, Says SUDA
With roots well established in drug discovery and delivery, SUDA believes its team has the added impetus to continue working in common interest by guiding the company through the challenges to come.
Undoubtedly, SUDA is backed by a team of accomplished and distinguished professionals, possessing a broad range of experience in the healthcare industry. SUDA’s board and senior management team is comprised of four key members, including:
Source: Company’s Presentation (26th February 2020)
Mr Paul Hopper, Executive Chairman
Mr Hopper holds more than 25 years of expertise in the life sciences, healthcare and medical sectors. Focussed on rapid growth companies and start-ups, he has served as either Chairman, Founder, Non-Executive Director or CEO of over fourteen companies in Australia, the US and Asia.
Dr. Michael Baker, Chief Executive Officer
Dr. Baker possesses more than 15 years of experience in drug development, scientific research and venture investing sectors. He has co-authored 18 peer reviewed research articles and received over 1600 citations. As an Investment Manager, he was also involved with operational and capital raising strategies.
Mr David Phillips, Executive Director
Mr Phillips has over 30 years of experience in the healthcare industry, which includes sixteen years in GSK, twelve years in Biotech and as Managing Partner of GSK’s Corporate Venture Fund, SR One. Moreover, he has been responsible for more than fifty Biotech/Pharma deals and ten M&A transactions.
Mr David Simmonds, Director
Mr Simmonds was a senior audit partner with EY from 1989 to 2017. From 2008 to 2013, he directed the Capital Markets desk in the nation with responsibility for reviewing or overseeing all cross border fundraisings in Australia. He is currently a Board member of MS Research Australia.
Apparently, SUDA seems to be at the cusp of setting a good growth profile, backed by its strong board and management team that brings in a diverse range of skills and experience, driving the Company’s vision forward.
