Drug development company Avexa Ltd has appointed drug inventor Dr Jonathan Coates as its new interim chief executive officer. Dr Coates will serve as CEO while the company investigates its commercial options and awaits the outcome of an independent review of its programs. He will also resume his previous role as Avexa's chief scientific officer.

Dr Coates has 25 years experience in anti-viral drug discovery and was an inventor of the drug 3TC, targeting HIV and HBV, for Glaxo-Wellcome, according to a statement to the Australian Securities Exchange on Tuesday.

Avexa chairman Joe Baini said the company was fortunate to re-gain the expertise of Dr Coates, to lead the company as it conducts an independent review and discussion with regulatory authorities in relation to its HIV drug candidate, Apricitabine (ATC).

Avexa also has appointed Jet Soedirdja to the Board as a non-executive director.

Mr Soedirdja has been a non-executive director of explorer Mosaic Oil and Indonesian investment group PT Dragon Capital Management

Source: AAP