Connect with us

Health Care

Nyrada Inc (ASX:NYR) – James Bonnar

Published

on

The CEO Mindset - James Bonnar is the Chief Executive Officer of Nyrada Inc (ASX:NYR)

James Bonnar is the Chief Executive Officer of Nyrada Inc (ASX:NYR), a preclinical stage, drug development company. The Company specialises in the development of novel small molecule drugs pertaining to the underlying pathological processes involved in cardiovascular, neurodegenerative and chronic inflammatory diseases.

What is your journey in becoming a CEO?
Working at the laboratory bench, and moving into quality assurance, regulatory affairs and management has given me a diverse skillset in the pharmaceutical industry and made the transition to CEO feel like a logical progression. An analytical chemist by training, I have over 25 years of experience in the industry. In the last 13 years I have mainly been involved in neurology clinical research, working in a broad variety of director and C-level roles, taking drugs from the laboratory and through preclinical and then human testing. Along the way, I also spent several years working in China where I established and managed a successful healthcare product manufacturing operation.  Being a people person, I am now relishing the opportunity to front Nyrada to the investment community.

Tell us a bit about your business and how you are commercialising?
Nyrada Inc (ASX:NYR) is an innovative pharmaceutical company with a focus on discovery and early stage development of novel treatments in areas of unmet clinical need and significant commercial potential. Our business model is to commercialise early, after safety and initial efficacy proof-of-concept has been established in the target patient population. Nyrada has two lead programs: a small molecule cholesterol-lowering drug (PCSK9 inhibitor) to reduce low-density lipoprotein cholesterol levels, and a drug to treat brain injury including traumatic brain injury and stroke. Shareholder value will be realised through licencing or the sale of drug assets and our cholesterol-lowering drug is expected to enter the clinic in late 2021.

How are you managing with the current COVID-19 pandemic on both business and personal front?
COVID-19 has had minimal impact on Nyrada operations. We operate largely as a virtual company, a model successfully adopted by a growing number of discovery and early phase pharmaceutical companies, and so the transition to working from home was seamless. Operations at our contract laboratory in China were affected for a short time only, causing minimal disruption. By the time lockdown occurred in India, where our drug synthesis vendor is located, we were able to implement a contingency plan, utilising a second facility in China. Transport and logistics are now back at full capacity meaning there are no delays anticipated in the movement of materials. One negative was that several investor events were cancelled or postponed meaning we had to adapt. In response we held an investor webinar instead which was very well attended, and I can see this engaging format becoming more popular in future.

What’s the most exciting thing about running your business?
Getting to interact everyday with so many bright and talented individuals. Also, travelling together as a team on a journey of discovery to help address serious and life-threatening diseases is very exciting and a key motivator. Previously, I worked on a brain injury study and saw first-hand the devastating affect it has on patients and their loved ones. Also, I lost a close friend to brain injury following a motorcycle accident a couple of years ago and it was extremely sad and frustrating knowing that the treatment options were so limited.

How do you measure success?
On a personal level, success is about meeting the standards I set for myself and living up to my values which are honesty, integrity and the search for truth, a fundamental tenet in science. In terms of Nyrada, success is underpinned by creating and clearly communicating to stakeholders our vision, adopting the right business model, conducting high quality research, and successfully executing on the optimal strategy. Long-term success will be judged by myself and our shareholders on developing safe and effective drugs that maximise return on investment. Success along the way is measured by delivering key milestones on time and within budget.

What do you think is the most important quality of being a CEO of a listed company?
I believe self-awareness and maintaining high ethical standards are two key attributes. The former because it drives learning and improvement, and the latter because it builds trust, which is vital in establishing and building relationships, and in fostering the right corporate culture. If you have these attributes, are smart, have a good work ethic and are passionate about what you do then you will be successful as a CEO.

What is your favourite book?
Two books I read recently that were hard to put down:
Shoe Dog by Phil Knight the creator of Nike, for entrepreneurial inspiration and because it highlights the value that passion, persistence, and a great team can bring to a business.

Bad Blood by John Carreyrou, the extremely interesting yet sorry tale of Theranos, for how not to operate a technology company, where there was vision and of entrepreneurial spirit in spades, but poor science coupled with bad ethics and leadership.

What message do you want to send to our readership in Asia?
Recent events have made us think more about the importance of our health and the fragility of life and this has raised the profile of technology companies developing new medicines to treat life-threatening diseases. Nyrada has two very exciting programs, both of which have huge commercial promise. Our cholesterol-lowering drug has the potential to improve and extend lives and our brain injury drug will offer hope to stroke and traumatic brain injury patients who currently have limited treatment options.

How can people connect with you?
Email:
Website: https://www.nyrada.com/

Want to be on the list next time this company raises capital? Open an account with Fresh Equities and start exploring capital raises – freshequities.com

From Left: James Bonnar (CEO), Benny Evison Ph.D (Chief Scientific Officer), Alex Suchowerska (Neuroscience Researcher) and Jasneet Parmar (Research Scientist)

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Health Care

$5M cap raise gives MYQ a further boost in trillion dollar health tech market

Published

on

$5M cap raise gives MYQ a further boost in trillion dollar health tech market

There has been a strong investor focus this year on companies that provide stay-at-home type services such as Amazon (NASDAQ: AMZN) – its shares have increased from about US$1600 to a high of US$3550 in the last 12 months with the majority of those gains occurring since the emergence of COVID-19.

Looking more broadly at the technology sector, it has outperformed the market over the past 12 months, providing investors with a total return of 56%. Compare this to the S&P 500’s total return of 22.5% over the same period and you get a sense of how this sector has boomed in the face of the pandemic.

Australia measures its tech stock performance through the S&P/ASX All Technology Index, which was launched on 24 February this year.

This index, which features 58 of Australia’s leading and emerging technology companies, has followed a similar trajectory to the NASDAQ adding $33 billion in value in three months.

One reason is the accelerated uptake of technology and online activities, such as healthcare services.

This includes the uptake of health tech services such as those offered by the $156M capped MyFiziq (ASX: MYQ), which has started the process of a NASDAQ listing.

MyFiziq has developed and patented a proprietary dimensioning technology that enables its users to check, track, and assess their dimensions using only a smartphone privately and accurately.

MYQ last week appointed Ladenburg Thalmann & Co. Inc. to facilitate the listing which would open up a huge market segment to this health tech provider.

As a member of the New York Stock Exchange for more than 135 years, Ladenburg’s breadth of experience across financing and capital markets will be invaluable to MyFiziq as it goes through a period of rapid expansion.

With MyFiziq’s business involving corporate transactions with a multitude of players in the health and wellness sector and significant investment required for research and development purposes, the proposed NASDAQ listing couldn’t have come at a better time.

Access to capital markets that are very much attuned to the tech and biotech industries is a distinct advantage, highlighted by the fact that many merger and acquisition transactions that have occurred among MyFiziq’s peers in the last 12 months have been NASDAQ-listed entities.

The biggest health tech M&A in recent times has been Teledoc’s $18.5BN acquisition of Livongo that will create a leader in consumer-centred virtual health care.

To assist the listing as well as further roll out of the MYFiziq app is the completion of a $5 million placement to sophisticated and institutional investors. The placement was priced at $1.20 and included 1:1 free options for placement participants at a strike price of $1.60 and a 3 year expiry date.

Commenting on this development, chief executive Vlado Bosanac said, “I am very pleased with the support we have received for the placement.

‘’We worked closely with Evolution Capital and the list of institutional and high net worth investors they brought to the table.

“The offer closed substantially oversubscribed, demonstrating significant investor interest in the company.

‘’With the current partner rollouts underway and MyFiziq starting to generate revenue, we are now in a position where the company is unlikely to need additional capital outside of any strategic investment opportunities currently being considered or the proposed NASDAQ listing.

‘’This new capital will assist the company in more rapid expansion of our team and the ability to assist our partners in expediting their go to market timelines.”

MyFiziq’s shares were trading at 28 cents two months ago, indicating that the strike price for the capital raising represents a 330% premium to its share price in August.

MyFiziq’s ability to complete a heavily oversubscribed capital raising at a premium price is an endorsement of both the company’s operational future and management’s ability to continue to successfully execute on its growth initiatives.

The raise was an astute move by management to remain on the front foot in positioning the group to engage in its own corporate initiatives, including the collaboration with players in adjacent industries, something that has been a hallmark of the group’s success in 2020.

Some of those collaborations include a potentially company-making deal with Nexus-Vita Singapore, a health monitoring and management technology company that will guarantee MYQ minimum annual revenue of US$3,5M (AU$4.99M) per annum, from the date of commercial launch of its app.

MYQ will work with Nexus to release the app in January 2021.

MYQ has hit several milestones, including an agreement with Bearn LLC targeting over 25 million users, commencing work with Biomorphik and signing its first Binding Term Sheet to expand the newly developed CompleteScan platform capabilities with Asia Pacific corporate wellness platform WellteQ into the $10 trillion global telehealth, corporate wellness and insurance market.

MYQ’s company’s current $150M market cap could prove to be just the beginning for the company – especially ahead of a NASDAQ listing and wider exposure to US investors.

Continue Reading

Health Care

VIP Gloves (ASX:VIP) – Chen Wee Min

Published

on

The CEO Mindset - Chen Wee Min is the Executive Director and Member of the Executive Committee (EXCO) of VIP Gloves (ASX:VIP)

Chen Wee Min is the Executive Director and Member of the Executive Committee (EXCO) of VIP Gloves (ASX:VIP), a wholly-owned subsidiary of VIP Gloves Limited which was established in 2016 to manufacture nitrile disposable gloves from its plant located in Selangor, Malaysia. Currently its products are sold to local and overseas distributors under original equipment manufacturer (OEM) basis.

What’s your journey in becoming a CEO?
I started-off my journey from simple beginnings hailing from the fringes of Kuala Lumpur. I had to prematurely end my education at Year 6 to take care of my family.

To help support the family, I became an apprentice tool maker and worked my way through rank and file to eventually becoming a metal stamping sub-contractor for Auto Parts Electrical appliances and steel related products.

Eventually, I decided to work with my brother in Keng Lek Engineering which was in the business of designing, fabrication and building of conveyor lines for rubber glove industries. After learning the tricks of trade, I decided to take the road less travelled and seized the opportunity to start KLE Products Sdn Bhd (KLE) with 2 other likeminded entrepreneurs.

As you would expect, it was ambitious and no easy feat to build KLE from the ground up. It was especially difficult in securing funding to scale up the business further among private investors.

As such, I quickly seized the opportunity in 2015 when it presented itself to inject KLE into ASX the listed-company, formally known as Voltage IP Limited, which enabled the company to grow into the position it is today.

Nevertheless, I can’t attribute the Company’s position today solely on my decisive actions alone as its been collective effort of my team to which I have been fortunate and blessed to be working with.

Tell us a bit about your business and how you are commercializing?
We started off with KLE which manufactured rubber dipping equipment for prominent Malaysian and International Glovemakers which include Top Glove, Hartalega, Ansell and so on.

As a natural progression thereafter, I made the bold decision to foray into the manufacturing of gloves in March 2016 as to seize the growth opportunity. We have since slowly tapered-off KLE business dealings and have concentrated our efforts into this glove manufacturing venture.  We presently have 4 glove lines (2 single-former lines & 2 double-former lines) in and we intend to rollout an additional 4 single-former lines progressively over the next 18 months which would enable us to achieve our next production output milestone of 1 bil pieces per annum.

How are you managing with the current COVID-19 pandemic on both business and personal front?
We are fortunate to be somewhat shielded during this current COVID-19 pandemic given gloves are essential Personal Protective Equipment (PPE) product during pandemics as seen in the past. In fact, the current glove market demand is currently on an exponential upswing given the global supply shortages being plagued by industry.

On the financial front, we are well positioned to ride this upswing as our sales are buoyant and the sale and leaseback (land & building) will further strengthen to our cash position.

On the personal front, it has been especially psychologically difficult navigating the business during the course of this pandemic especially during the imposition of the Movement Control Order in Malaysia whereby there were times I had to remotely managed the operations given it categorised as ‘essential services’ sector.

What’s the most exciting thing about running your business?
I would say the most exciting thing would be the managing of the daily challenges in my business. I yearn for these challenges and I take them head on with positivity.

How do you measure success?
I am strong believer that any business no matter the scale is underpinned by the people who work under it. Hence, my employees’ satisfaction is my ultimate measure of success.

What do you think is the most important quality of being a CEO of a listed company?
Being a good listener and as such to resolve problems if its within my means.

What is your pastime?
I like spending my pastime with my love ones.

What message do you want to send to our readership in Asia & Australia?
I would like to make a clear distinction here for our investors and soon to be investors that gloves usage is expected to remain prevalent post Covid-19. Given the unprecedented times we are in, I believe glove usage will be become a daily part of our lives moving forward and its uptake in usage will traverse across all industries given its an essential PPE and OHS (Occupational Health and Safety).

This trend is expected to remain even after the vaccine is out as the need for workers to work in a safe environment will remain prevalent. The best example of this is the beverage and hospitality industries where the increased use of gloves has been noticeable.  Another public place where the use of gloves has been more visible is in airports.

OHS will become as important to industry profit margins as carbon emissions.  Commerce now works in a global cycle.  What is good or bad for one will be an issue for all participants of global industries.

I also would like to take this opportunity to extend my upmost appreciation and thankfulness to all our customers, shareholders and not forgetting employees who have stuck through with us throughout journey.

How can people connect with you?
Email:

Company Website: https://www.vipglove.com.my/

Want to be on the list next time this company raises capital? Open an account with Fresh Equities and start exploring capital raises – freshequities.com

Continue Reading

Health Care

Q&A With StockPal – Dimerix (ASX:DXB)

Published

on

Q&A with StockPal - Dr. Nina Webster, CEO and MD of Dimerix (ASX:DXB)

Watch Dr. Nina Webster, CEO and MD of Dimerix (ASX:DXB) and Jared Sim, Editor-in-Chief and Co-Founder of StockPal in this engaging Q&A with the following questions:

0:10 – What is your business about?
0:47 – How did your company cope with the COVID-19 pandemic?
1:19 – What is your current development focus?
2:10 – What is the size of your potential target markets?
3:33 – What is your firm’s competitive advantage?
4:16 – How are you currently engaging with your investors?

Visit Dimerix’s website to learn more about their story:

https://dimerix.com/

Email editor@stockpal.asia if you are or represent a listed-company and is keen to be in our interviews.

Want to be on the list next time this company raises capital? Open an account with Fresh Equities and start exploring capital raises – freshequities.com

Continue Reading

Get more stuff

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

Recent Posts

Categories

Trending

  • Market News2 days ago

    Monday Movers – Top 10 ASX Companies Today

  • Market News1 day ago

    Tuesday’s Top 10 ASX Companies

  • Market News1 week ago

    Tuesday’s Top 10 ASX Companies

  • Market News1 week ago

    Monday Movers – Top 10 ASX Companies Today

  • Market News2 weeks ago

    Tuesday’s Top 10 ASX Companies

  • Market News2 weeks ago

    Thursday’s Top 10 Companies On The ASX

  • Market News3 weeks ago

    Thursday’s Top 10 Companies On The ASX

  • Market News3 weeks ago

    Tuesday’s Top 10 ASX Companies