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Nick Woolf (pictured) has been appointed as the new CEO of medicinal cannabis company AusCann (ASX: AC8), bringing considerable experience in the pharmaceuticals space along with him.
Woolf's appointment sees him replace former CEO Ido Kanyon following his surprise resignation in May.
Kanyon cited personal reasons for his departure, just 12 months after joining the team from US-based Teva Pharmaceuticals.
Woolf has some 25 years' experience in the investment banking and life sciences industries in Australia and internationally.
His previous roles include CEO of Proteolytics (a company commercialising a proprietary botanical extract from paw paw fruit to treat hard-to-heal wounds for humans and animals), chief business officer at CBD-based oral spray developer SUDA Pharmaceuticals (ASX: SUD), and CFO of drug developer PYC Therapeutics (ASX: PYC).
Read more: Australia's top 20 cannabis companies
"I am excited joining AusCann at this pivotal point in its development and building on the work already undertaken by Ido Kanyon in getting our first product into market and commencing our clinical research programmes," says Woolf.
Kanyon left AusCann just as the company was launching its hard-shell capsules to market, kicking off clinical evaluations and working on a new nationwide storage and distribution partnership.
Woolf is not the only newcomer at AusCann; chairman Max Johnston took on his role in January and chief medical advisor Dr Marc Russo came on board in March.
Shares in AC8 are up 3.45 per cent to $0.15 per share at 10:57am AEST.
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