Florey Institute Director Professor Steven Petrou to step down to take up an appointment at a US Biotech in April 2022

The Florey Institute of Neuroscience and Mental Health today announced that Professor Steven Petrou has notified the Board that he will step down from his role as Institute Director in April 2022.  Professor Petrou will extend his existing appointment of Chief Scientific Officer of US-based Praxis Precision Medicines Inc. (NASDAQ: PRAX) (Praxis).

Professor Petrou joined the Florey in 2001 as a laboratory head and served as a Deputy Director for eight years before his appointment as Institute Director in 2018.  As Director, he has had a key focus on developing and deploying a new Institute strategy, creating a funding model to build future resilience in response to changes in Government funding policies, introducing a number of workplace improvement initiatives, as well as successfully navigating the Institute through the COVID-19 pandemic.

Florey Chair Mr Mark Jones AM said: “On behalf of the Board, I would like to extend our gratitude for Steve’s leadership over the past three and half years and for the role, he has played in positioning The Florey for future success.”

From April 2022, Professor Petrou will continue his part-time employment at the Florey for one day a week and maintain his laboratory to manage existing research activity and commercial collaborations into the future.

Mr Jones said: “Steve has worked hard with the Board over his time as Institute Director to expand the nature of The Florey’s activities and sources of funding, in pursuit of our mission to advance humanity through brain and mind science.”

“On behalf of the Board and the entire Florey team, we wish Steve well as he moves into the private sector with Praxis. We are delighted to have secured his ongoing services at The Florey as he continues his work of translating discovery research into real-world outcomes for children with brain conditions and for their families.”

“The Florey is considered among the top 10 Brain Medical Research Institutes in the world and we expect to attract strong local and international talent for the position of Institute Director.”

Professor Petrou said: “I am proud that during my tenure as Director the exceptional discovery and clinical research which has always been a hallmark of The Florey has moved towards the development of intellectual property and increased translation. This focus will ensure that our world-leading research will bring lasting health benefits to the individuals affected, as well as create economic benefits for the Institute, our researchers and the Australian community.”

“I have been extremely privileged to be able to lead The Florey through this period and while I am leaving the Director role, I will maintain significant links to The Florey and look forward to continued engagement with my incredibly talented colleagues.”