Pharmaxis Ltd. announced that its long serving Chairman Mr. Denis Hanley AM has retired from the Board of Directors. The Board has appointed existing director Mr. Malcolm McComas as the new Chairman. Mr. Hanley has been Chairman of Pharmaxis since 2001, overseeing the building of the company and its successful clinical research and development program. Two weeks ago Pharmaxis announced its third drug approval in a large global pharmaceutical market with the issuing of marketing authorization for Bronchitol to treat cystic fibrosis patients in Europe. Mr. Hanley is retiring from the Pharmaxis Board as the company transitions from drug discovery and clinical trials to the commercialization of its lead compound, Bronchitol, for the treatment of cystic fibrosis in the major pharmaceutical markets. Malcolm McComas is a company director and a former investment banker. He was previously a director and a consultant of Grant Samuel, the investment banking, property services and funds management group, from 1999 to 2009. Malcolm McComas is a company director and a former investment banker. He was previously a director and a consultant of Grant Samuel, the investment banking, property services and funds management group, from 1999 to 2009.