Exonate has appointed Olav Hellebø as CEO as the company prepares to advance its lead retinal therapy candidate, EXN407, into a phase 2b clinical trial for diabetic eye disease. Mr. Hellebø succeeds Exonate co-founder Catherine Beech, who will remain on the company's board of directors. 

Mr. Hellebø brings decades of leadership experience across the pharmaceutical and biotechnology industries, including senior roles in ophthalmology, immunology, and oncology. He most recently served as CEO of ReNeuron Group plc, where he in-licensed a retinitis pigmentosa program from Schepens Eye Research Institute, an affiliate of Harvard Medical School, and oversaw equity financings totaling $125 million.

His previous leadership positions include executive vice president of the US Biotech and Oncology business unit at Schering-Plough (now Merck), chief operating officer of Novartis UK and member of the Novartis Global Pharmaceutical Executive Committee, and president of Immunology at UCB, where he established and led the company's immunology division following its acquisition of Celltech plc.

Mr. Hellebø also serves on the boards of several biotechnology companies, including Oncoinvent and Cytovation, and is chair of Blue Cell Therapeutics and ION Therapeutics.

"Olav combines deep scientific understanding with extensive operational and commercial leadership experience, gained across both large pharmaceutical companies and emerging biotechnology businesses," said Rafiq Hasan, PhD, chair of Exonate's board of directors. "His expertise in ophthalmology, together with his proven ability to build and lead successful organisations, makes him ideally suited to guide Exonate as we continue to advance our pipeline and create value for patients."

Exonate's lead candidate, EXN407, is a small-molecule therapy designed to target the vascular endothelial growth factor (VEGF) pathway through topical administration as an eye drop. The approach aims to provide a noninvasive alternative to the intravitreal injections that currently represent the standard of care for many retinal vascular diseases. The company is preparing to launch a phase 2b study with a design endorsed by regulators and a defined path toward registration. The trial could pave the way for a closely aligned phase 3 study if positive results are achieved.