NeuroScientific Biopharmaceuticals has appointed experienced executive Nathan Smith as its new chief executive officer, marking its second significant leadership addition in less than a week. This move comes as the company prepares for the commercial release of its pioneering StemSmart stem cell technology, which aims to address serious medical conditions.
Smith, based in Melbourne, brings a wealth of expertise in cell and gene therapies, having held various senior roles in both Australia and the United States. His background in navigating regulatory and commercial pathways will be essential as NeuroScientific seeks to transition from a biotechnology startup to a fully operational commercial stem cell company. The company’s focus on good practice manufacturing aligns with Smith’s extensive experience, which is expected to facilitate the scaling up of operations.
NeuroScientific acquired the StemSmart technology for $4.1 million in June, purchasing the unlisted Perth-based stem cell company Isopgen. The StemSmart technology utilizes mesenchymal stromal stem cells (MSC) as a last-line infusion treatment for critically ill patients, including those with severe immune complications from bone marrow transplants and inflammatory Crohn’s disease.
Adding further strength to its leadership team, NeuroScientific has also appointed Dr. Catherine Cole, a respected paediatric haematologist and oncologist from Perth, as its chief medical officer. The announcements of these appointments have positively impacted the company’s share price, which rose by 11.3 percent to 24.5 cents—the highest trading volume since April. The share price has increased by 360 percent since the beginning of June.
Previously, Smith served as the director of business development at Cell Therapies, located within the Peter MacCallum Cancer Centre. His past roles at notable organizations such as Genzyme Corporation, Mesoblast Inc, and GlaxoSmithKline have equipped him with the knowledge necessary to lead programs through their entire therapeutic cycle, including pre-clinical development and clinical trials.
Expressing his enthusiasm for the new role, Smith stated, “I was attracted to NSB given the historical success of StemSmart in multiple serious clinical disorders and the clear potential of the technology for further development.” His appointment, alongside Dr. Cole, strengthens an already impressive leadership team that includes Dr. Marian Sturm, NeuroScientific’s chief scientific officer. Sturm has a notable history of pioneering MSC usage in clinical applications over the past two decades at the Royal Perth Hospital’s Cell and Tissue Therapies centre.
StemSmart represents a significant advancement in traditional MSC manufacturing, as the cells are cultivated in specialized media that activates them during growth. The platform technology, developed at Royal Perth Hospital, has been utilized in early-phase clinical trials and compassionate use cases with encouraging outcomes.
Later this year, NeuroScientific anticipates receiving interim results from its latest compassionate trial involving patients suffering from difficult-to-treat fistulising Crohn’s disease. This type of condition involves the development of open wounds from gut flare-ups extending to the skin, leaving patients with limited treatment options. A successful trial could further validate the proprietary StemSmart technology for this patient demographic.
In a year marked by significant activity, NeuroScientific’s acquisition of Isopgen and its revitalized leadership team have been complemented by a $3.5 million capital raise, providing the company with a total of $7.5 million to support ongoing trials and development efforts. These strategic moves align with the company’s long-term goal of achieving partial or full registration for StemSmart, beginning with its application as a treatment for Crohn’s disease.
