WA rich lister Alan Tribe takes over as interim PYC Therapeutics boss following Rohan Hockings’ resignation

PYC Therapeutics chair Alan Tribe will assume the role of interim managing director following Rohan Hockings’ resignation from the top job. Mr Tribe is best known as the former owner of Perth and Adelaide’s Ikea franchises before they were sold to the Swedish furniture giant’s parent company in 2017. The WA biotech told investors on Wednesday Dr Hockings had given his two months notice and expected to leave the company by November 16. No further explanation was given for his exit. The news sent shares plummeting 28 per cent to 87¢ just before 9am. PYC said it would now start the search for a permanent managing director. “I would like to thank Rohan for his significant contributions to the company and wish him well in the future,” Mr Tribe said. “There will now be a robust search to select a successor who can lead the future growth and development of the company for its shareholders.” The biotech — which listed on the ASX in March 2005 — is developing four RNA-based drugs to treat rare genetic diseases, including retinitis pigmentosa, which is a degenerative eye disease considered to be the leading cause of childhood blindness. It is also developing a drug for Phelan-McDermid syndrome, a severe neurodevelopmental disorder that affects development, speech and behaviour.